Indeed, the promise of getting a credit card approval "instantly" can be tempting for anyone who wants to have a credit card, particularly for individuals with bad credit. Nevertheless, some consumers may try to apply for an "instant approval" credit card without really knowing the qualifications of the issuer or the credit card company. In this case, there is the risk of getting rejected or getting stuck with high interest rates and fees. To avoid such problems, consumers are advised to be cautious when applying for a credit card.

Can anyone really get a sure approval? The truth is that if you have no credit or bad credit history, your application may still get declined. So what do you need to know about instant approval credit cards? Read on the rest of the article and find out the facts that can guide you in your search for a credit card.

What does "instant approval" mean?

The phrase "instant approval" is better translated as "conditional approval" or "pre-approval". However, many credit card companies use the more promising phrase for marketing purposes. But what does it really mean?

When you submit your credit card application over the internet, the issuer will run a quick credit check and send back a response within a matter of minutes. Indeed, this method of application is quicker than going to your nearest bank to fill-out an application and waiting for days for your banks call.

However, after receiving the pre-approval email, the applicant must wait for 4 to 7 banking days for the actual process to complete. Within this period, the issuer will do further investigation on the applicant’s qualifications before sending out the credit card to the cardholder via registered post mail. Afterwards, the cardholder must first verify his/her account by calling up the issuer before the account can be activated.

Why Be Careful

One crucial factor to check is the security of the website. Before filling in your personal information, make sure that you are using the official website of the credit card company. Does the URL begin with https://? Also, if you are being directed by a credit card review website, it is better to type the complete URL of the credit card’s website rather than just click on the link provided on your screen.

Yes, applying for a credit card is certainly not a joke. It is very important to understand your chosen issuer’s Terms and Conditions to avoid getting rejected. Take note that not all credit cards with instant approval accept customers with bad credit or no credit history. If you have bad credit or if you have yet to build credit history, you need to compare your options from a list of secured credit cards that offer instant approval online.

Do comparison carefully to make sure that you will not be subjected to hidden fees, high rates or unreasonable terms. If you are applying for a secured credit card, make sure that it does not only offer instant approval but credit reporting services to the three major credit bureaus as well.