 By ASAP Credit Card - Copyright © 2008
You
need a new credit card - and you need it fast! An instant approval credit card
will speed up the process and provide an instant decision to your credit inquiry
in just seconds. But how quickly will you actually be able to use your new credit
card? What does 'instant approval' really mean? We'll show you how instant
approvals work so you know what to expect:
Basics of instant approvals:
The electronic
age has brought drastic change to the credit industry. Data can now be accessed
almost instantaneously to determine if you qualify for a new credit card or other
line of credit. Most decisions are made by using your FICO score, which is calculated
by the Fair Isaac & Company. Typically, you need to have good credit - or a score
greater than 650 for an instant approval credit card. But there are a few exceptions, and several credit card issuers provide instant approval
for people with bad credit >>>
Instant
approval credit cards are among the most popular credit cards at ASAP Credit Card.com.
They allow you to apply online and receive a response to your credit card application
within seconds. While 'instant approvals" help eliminate the stress and confusion
of waiting for your credit card application to be reviewed, be aware that in many
cases this is only a conditional approval until your application has been gone
over in detail. Luckily, almost all decisions ulimately result in an approval
since your FICO score is such an accurate indicator of your credit history. When
can I use my card?
A common misconception of consumers
who seek instant approval credit cards is that they'll have immediate access to
their credit line after they've been approved. While this may have been true in
the past, most banks have stopped providing temporary credit card numbers to approved
applicants due to fraud. In general, you'll will have to wait 7-10 business days
for your new credit card to show up in the mail before you can actually start making
purchases.
Why apply 'instantly'?Instant
credit cards provide access to your new line of credit much faster than traditional
credit cards without instant approval. Although you won't have the ability to
make purchases immediately, you'll get your card much quicker and you won't have
to worry about the status of your credit card application. Since a typical review
could take up to a month, if you need a credit card fast - instant approval credit
cards will definitely speed up the process! *
See a complete list of instant approval
credit cards > Related Articles: Even
More Credit Related Articles >
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