Many things in our lives these days happen quickly, which is very helpful. We like our food to come quickly, the lines to be short, our cash to be available right away at an ATM, and the service to be fast. Our TV shows and movies have to be over in an hour or two. Now, you can also get approved quickly for a new credit card. By going online and filling out your information at a secure site, you can often get a response within minutes. Here's how to decide which credit card with instant approval you want.
Good credit is needed.
Before you apply for an instant approval credit card, you should make sure you have good credit, or even better, excellent credit. If it's less than this, you probably shouldn't apply because your application will probably be turned down. Your credit score will go down if you apply for too many credit cards. This could hurt you in the long run.
Choose the perks you want.
First, you should look at what kinds of rewards are available. You may already know which one you want to pick, but you should pick the one that will help you the most. If you travel a lot, you may want a gas card, a hotel card, or an air miles card. If you are a student with good credit, choose a student credit card that gives you discounts on things like movies, CDs or DVDs, clothes, amusement parks, and more. If you are a good student, look for one that rewards good grades with extra points.
There are also driver's licences for people who drive a lot. Some of these give you points not only for the gas you buy, but also for keeping your car in good shape. Some of them will also let you use your points to buy another car, whether it's brand new or used.
Check out the first offer.
Most credit cards have an introductory offer that can last from three to 15 months. You should look at the length and apply for a credit card with an offer that lasts as long as possible, especially if you plan to transfer any balances. Get a credit card that will let you use it right away and has no fees for transferring balances.
Find out what the normal percentages of cash back are. This is usually between 1 and 6 percent, depending on the kind of purchase and the credit card you use. Remember that the more money you get back, the better.
Think about the interest rate and the costs.
Choose a credit card with the lowest possible interest rate. How much you pay for credit will depend on your credit score. This rate, on the other hand, is how much interest you will pay each month on any balances you leave on the card. Also, check to see if there are any fees and compare different offers to find the best one.
If you apply for a credit card with instant approval online, you might hear back in just a few minutes. If there is any doubt about your credit score, they will contact you to clear it up before they give you a credit card. If you are approved, you should get it in about a week.
