Making the Most Out Of Your Outstanding Credit History

By Leni Parrish on September 9, 2010

If by any chance you’ve been using (or relying) on credit cards in the daily transactions of everyday life, and you’ve managed to stay clean (no bad credit, bills paid on time) then congratulations! You probably have quite an excellent credit standing, which means you actually stand a great chance at enjoying some of the perks of a good credit standing. One of these benefits is the availability of Instant approval credit cards. Should the need arise for you to apply for a new credit card, There’s no need to sweat it out and waste time manually applying for one at your preferred bank/card provider. Instant approval credit cards can be applied for online and are usually approved within minutes of enrollment.

The usual protocol is a confirmation email which the card provider sends to your enrolled email address informing you of the details of your transaction and whether your application for a new card has been approved or not. The purpose of these instant approval credit cards is to speed up the normal processes undertaken by manual to semi-automated transactions at banks and credit card provider offices, and part of this is to drastically reduce the time spent in reviewing client records and decision making as to the approval of credit card issuance. Therefore, having a good to excellent credit standing ensures the approval of your application; consequently, having little or bad credit to your name means a rejection almost instantly.

Instant approval credit cards are available on a large number of popular credit cards, with many of them offering low interest rate credit cards, 0% introductory APR (some for as long as 12 months, depending on the company) and 0% introductory rate on balance transfers, also good for 12 months. In an effort to improve sales and credit clients, some card provider companies also offer cash back credit cards which reward the card user with corresponding points or even cash with continued use of their card. You can expect to get bigger, better rewards (and/or cash) with each use of your cash back credit card. When a card provider executes such cash back schemes, the cardholders normally receive around 0.5% to 2% of the net expenditure made by them (purchases less refunds) as yearly rebates. These amounts are directly credited to the account of the cardholder or paid separately by cheques. A word of caution: always read the fine print before agreeing to any terms or conditions imposed by your bank or car provider. You’ll want to make sure that you fully understand what you’re enrolling into. Having said that, I certainly hope you’ll take advantage of these benefits to get the most out of your credit card.

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