Instant approval credit cards are exactly what the name implies. You can apply online and be approved in minutes. This is a quick route to go if you need a card in a hurry. You will want to check out the card before you apply though because there may be fees attached.
If you have good credit, you may be approved for a card with a decent interest rate and no annual fee. You will need to know what your credit score is before applying. Your new credit card will come to you in the mail in seven to ten business days.
If your credit score is low, or if you have had several credit history issues, this type of card can still be approved, but at a high interest rate and high annual fees. There are also other fees that can be attached to this type of card. You can determine what the late payment fee is and what the overlimit is. Beware of cards that will allow you to charge over your credit limit and then charge you extra amounts as overlimit fees.
This type of card can be quite simple to obtain. Because of its ease of approval, you should avoid being enticed into applying for several cards and getting into too much debt. A debt load that is too high can change your excellent or good credit to poor credit. High interest rates will become your norm. Just applying for too many cards can lower your credit score. You should never apply for more credit than you need.
Check the card out with the Better Business Bureau. Too many legitimate complaints can be an indication that there is a problem with the company. Although the customers’ complaints may not always be resolved to their satisfaction, the card issuer should make an effort to correct problems.
New credit card laws may result in some significant interest rate increases into the 30-40% range. A card that allows such an interest rate could never be a good bargain for you. Always know exactly what your rates and fees will be in a worst case scenario.
Instant approval cards can be very handy in an emergency, but don’t allow yourself to use them on a regular basis. Save your credit cards for a true emergency. Your savings account or emergency fund can take care of the occasional financial pressures.
Obtaining credit cards at less-than-perfect credit score is possible with a reputed credit card provider. Internetcreditshop offers instant approval cards at best rates to meet the requirements of different consumers. Visit the service provider to find information on related topics like merchant card processing and improving credit cards.