Apply for instant credit cardDespite the current tightening of credit, it is still easy to apply for instant credit card. If you have an urgent need for credit, credit card instant approvals over the Internet are safe, private, and still readily available. However, please note that in most cases even with fast credit card application approval, you will still have to wait for your new card to be mailed to you. Back in the "good old days" some companies would provide the credit card number and expiration date immediately. This allowed the new card to be used quickly, often within an hour of the approval. Yet the "good old days" were not really that great as this practice of credit cards instant approval promoted identity theft and credit card fraud. This is why there is now usually a small wait for the card to be be delivered safe into your hands.
Fastest Approvals
In my experience Chase credit cards online are the fastest/easiest in general. American Express can also be be very easy and speedy if your credit is good. I am a big fan of Discover cards but have found that even if a Discover application is approved, it is slower than Chase and Amex, and usually involves more follow-up by telephone, fax and snail mail. BEFORE You Apply - A Warning! Credit card issuers encourage offer you to apply for instant credit card to take advantage of impulse buyers. Instead, do your homework and make sure you are the one who comes out ahead. Check out the Federal Trade Commission (FTC) publication on Choosing a Credit Card BEFORE you submit your application! The Pre-Approval Myth You may have received an email or snail mail containing a "pre-approval" for a new credit card. Many companies use information from credit reporting bureaus to pre-screen applicants. Please note that even with so-called pre-approval there is no guarantee of being approved for a credit card. Once you apply for instant credit card, the system will compare the information on the application with an established data base before the final decision is rendered. The status of the application is known in 30 seconds, or sometimes in about two minutes, and if denied, you may be given a telephone number to call for more information. There is often no greater chance of approval and no reduction in processing time between using a "pre-approval" you have been solicited for or simply applying for an online offer that you find for yourself. Pros and Cons of Multiple Applications It is widely believed that submitting multiple credit applications dings your credit report and lowers your credit score. It is true that multiple applications can worry card issuers because it may make it appear you are desperate for money and also create short term confusion about exactly which applications have been approved and exactly how much credit is already available to you. However, years in the credit industry have taught me that most people over-estimate the negative impact. Please keep in mind that credit inquiries only effect 10% of your total credit score and only stay on your record for six months. This means that any negative impact is minor and temporary. Tha advantage of making multiple applications is that you have more balls in play and therefore more chances of scoring your goal. Also, there is often a difference between the advertised "standard" APR, and the actual interest rate you may be offered. Multiple applications allow you to choose the best actual APR% that is actually offered to you. However, do not apply for more than around 3 cards at once as more applications may cause potential card issuers to panic and damage your approval chances. The information required when you apply for instant credit card will vary by cardholder as well as your credit score. Applicants with an above average FICO score may only need to submit their current information, but some companies, especially those that deal in bad credit credit card offers, may need significantly more information to verify identity as well as work and address history. Reasons For Denial May Be Delayed When you apply for instant credit card and get denied, it can take 10 days or more to receive the written reason for the denial in the mail. Typically, the denial will be based on reports from one of the three major credit reporting agencies and you will have to contact the one specified in the report to learn exactly why you were turned down during the fast credit card application process. As mentioned above, even when submitting an application for pre-approved 30 second approval credit cards there is no guarantee of approval. Making sure you only deal with companies that offer the best chance of being approved will also help your approval chances in any subsequent applications submitted for Internet credit cards. Protect Yourself Only use secure and reputable websites that protect your personal information. Look for the little yellow padlock symbol to make sure the site is using industry standard SSL encryption to secure your data. Also, carefully read through the terms of service when looking for instant approval Internet credit cards to make sure you information is secure, not shared with others, and will not be used to apply for other credit offers without your knowledge and consent.
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