You Will Have To Wait Until You Physically Receive The Credit Card To Start Spending

Category: Finance, Credit.

With so many scams and con artists out there, many people become skeptical when they hear deals that sound too good to be true. There is no scam with these cards- you can be approved for a new credit card within a matter of seconds.

While this is generally a good practice to follow, your concerns can be set aside when it comes to instant approval credit cards online. Nonetheless, there are exceptions and a few points you should keep in mind when applying for instant approval credit cards. For those with a good or excellent credit history, instant approval credit cards generally come back as approved within a matter of seconds. Gaining Instant Approval. This is because the credit card company is able to access your credit history records and credit score quickly. In this case, you will generally receive a notification right away letting you know that you have been approved to be a card member. If your score and history meets the requirements for instant approval, your application will process quickly and smoothly.

Depending on the instant approval credit card company, you might also learn right away what your credit limit will be. This is because the credit card company needs to do more research to determine how much credit they can risk extending to you. In other cases, you might need to wait a period of time to learn how much you will be able to charge to the card. Getting Pending Approval. In this case, the credit card company thinks you might still be a good candidate for the card, but needs to acquire additional information. If your credit history is not so great or if your credit score is lower than the ideal score, you might receive a notification that your application is pending.

Although this approval process is no longer" instant, " it is still far faster than with the traditional application process. With the traditional paper application process, it can take six to eight weeks to learn if you have been approved for card membership. Generally, you will receive a notification letting you know whether or not you have been approved for the instant approval credit card within a couple weeks of application. Therefore, applying for an instant approval credit card can still be worthwhile if you want to expedite the entire process. It is important to note that instant approval credit cards are not the same as guaranteed approval credit cards. Getting Turned Down.

Therefore, it is possible to be turned down when applying for an instant approval credit card if you have very poor credit. If this happens, you should not, however be discouraged. In addition, it is possible to receive a pending approval notification only to be turned down later. There are credit cards designed for those with poor credit- even instant approval credit cards. Getting the Card. For this reason, you should shop around carefully to find an instant approval credit card that targets those with poor credit and apply for that card rather than one that is targeted toward those with good or excellent credit.

Although instant approval credit cards can be approved instantly, that doesn t mean you receive it instantly. This can take a couple weeks after you have been approved for the card. You will have to wait until you physically receive the credit card to start spending. Nonetheless, the process is still much faster than going through the traditional paper application process. Those looking for" instant" gratification with their instant approval credit card will be sorely disappointed when they discover they cannot start spending right away.

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