How Does an Instant Approval Credit Card Works?

Posted by Joaquin Costa

June 17, 2009

by Linda Arelavo

Sometimes when applying for a credit card, the credit card issuer promises instant approval. However, the meaning of the word is not that you get a credit card instantaneously; rather it is just another way of telling you that they have a fast approval system. The reason why there is nothing like instant approval cards is because when you submit an application, the credit card issuer has to check your creditworthiness and to ensure that there is no fraud. To do this, they need a couple of days and thus the term instant is more of a marketing gimmick than a reflection of the time taken to process your credit card.

With instant approval, you apply online and once your details and information check out and you are found to be qualified, you get a notice through email of your acceptance within seconds of completing the online application form. A good example is the American Express Preferred Rewards Gold Card. This card offers you express approval in a matter of 60 seconds. It comes at no interest rate but features an annual fee of $125 after the first year. It however requires an excellent credit level.

Starwood Preferred Guest Credit Card is another card that guarantees approval in 60 seconds for all excellent rated applicants. The card comes at an introductory APR of 2.90 for the first 6 months and then a regular APR of 13.24 %. It has an annual fee of $45 but you do not get to pay for the first year. However, there are those credit cards that are instantly approved but are for people with poorly rated creditworthiness. These include; the First PREMIER Bank Gold MasterCard. This card guarantees a 60 seconds approval and a low APR on purchases. It also gives you the benefit of 24 hour account access by phone.

The SilverCard Prepaid MasterCard is another kind of instant approval card for those with bad credit rating and mainly those who receive government or benefit checks. It provides online checking and charges no overdraft fees. Lastly we have the AccountNow Prepaid Visa Card which gives 100% instant and guaranteed approval.

It charges no interests only a monthly fee of $4.95. There is no end to such Instant Approval credit cards. All you have to do is research and find out one which is suitable to your individual needs. Just take care that you sign a deal for a card with reliable features and no hidden charges or other costs.

About the Author:

Many business today find the options of using business credit cards where you can find no fee credit card deals and low rate credit cards options.

Credit Card

Tags:Credit Card
Technorati Tags:Credit Card

If you enjoyed this post, please consider to leave a comment or subscribe to the feed and get future articles delivered to your feed reader.

Comments

No comments yet.

Ebay Deals on Credit Card

[CaRP] Can't open cache file.

Credit Card

Vintage Silk Scarf, (260A)
4 Aug 2010 at 9:14am
US $7.97 (1 Bid)
End Date: Monday Aug-09-2010 7:14:46 PDT
Bid now | Add to watch list

200 Chrome Tire Valve Caps
11 Apr 2010 at 9:09am
US $29.95
End Date: Monday Aug-09-2010 7:14:46 PDT
Buy It Now for only: US $29.95
Buy it now | Add to watch list

GOLD PLATED Bridal Kundan Necklace set with Earring
2 Aug 2010 at 9:14am
US $12.98 (0 Bid)
End Date: Monday Aug-09-2010 7:14:46 PDT
Bid now | Add to watch list

01 02 FORD EXPLORER ANTI-LOCK BRAKE PART
11 May 2010 at 9:09am
US $85.00
End Date: Monday Aug-09-2010 7:14:46 PDT
Buy It Now for only: US $85.00
Buy it now | Add to watch list

99 00 01 02 SILVERADO 1500 WINDSHIELD WIPER MTR
10 Jun 2010 at 9:09am
US $35.00
End Date: Monday Aug-09-2010 7:14:46 PDT
Buy It Now for only: US $35.00
Buy it now | Add to watch list