FAQs About Instant Approval Credit Cards
Many consumers have questions about instant approval credit cards. While the process is extremely fast, it isn’t exactly instantaneous. In order to receive a fast approval, you have to have qualify and have good to excellent credit.
Here are some frequently asked questions about the entire instant approval credit card application and approval process:
Q. What does “instant approval” credit card really mean?
A. Instant approval credit cards refer to the time it takes to receive a decision regarding your individual application. During this process, credit card companies receive your application, review it quickly and make a decision based on your credit history. This process can take less than 60 seconds (depending on your credit score and/or report).
Q. How does instant approval credit cards differ from instant decision credit cards?
A. Instant decision credit card offers allow the bank or financial institution to “defer” the approval decision until they can do more back-end work. Instant decision credit card offers allow the lender to review the individuals credit history in more detail.
Q. What is “instant credit?”
A. Instant Credit provides instant approval and more. It also provides the applicant with a temporary credit card number. This allows the consumer to make online purchases immediately, instead of having to wait to receive the actual, physical credit card. Most banks do not use instant credit due to too many fraudulent uses of instant credit.
Q. Is the instant approval process as safe and secure as filling out a paper application?
A. Many consumers shy away from the instant approval process because they fear it is not as safe. However, it is as safe (if not more safe) than filling out a paper application and mailing it in. Make sure to find a legitimate credit card comparison website. These websites only offer links to secure credit card applications. A few ways to tell if you are using a secure application…
-Does the web address include…https://
-Is there a key lock anywhere on the web browser?
If so, you are safe and may proceed with your instant approval application.
Q. How long does it take to receive a credit card once my application has been approved?
A. Each lender has a different time frame. The typical time period to receive your physical credit card is between five to seven business days. You can always contact the lender’s customer service department to find out the specific time period.
It is always a good idea to review these FAQs before filling out an instant approval credit card application. Instant approval credit cards are fast, easy and well worth your time.
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