What is an Instant Approval Credit Card?

By Stephen Fisherton on November 1, 2012

Everything is about doing something quickly. When it comes to credit cards, approval decisions can be made in 60 or 90 seconds – faster than any other type of loan or form of credit.

Instant approval explained

Credit cards are one of the few types of loans that do not require a significant amount of due diligence on behalf of the lender. Credit card companies do their analysis primarily on the numbers – your income, your credit score, and your history. Once analyzed, your data can be turned into an approval decision and credit line.

An instant approval credit card is one that will give you an answer as to whether you are approved immediately after signing up. This compares to other credit cards which do not provide a quick answer to applicants and which are more likely to deliver an approval decision by mail.

Applicants are smart to use instant approval offers before others. If you are ever denied and instant approval card, you can use that information to sign up at another credit card company before the credit pull shows up on your report. Credit pulls do not show up until your report is refreshed one month later, meaning that you have time in between the decision to when the negative from a pull hits your score. If you look exclusively for instant approval cards, you have an informational edge in how you go about your application submissions. Having that edge is especially important for those worried about their past credit history.

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