How Instant Approval Credit Cards Work
Have you ever wondered how instant approval credit cards work? It’s no great mystery really. When an applicant enters their information by way of an online credit card application it is then transmitted directly to the issuer. The issuer then sends it through a database where the applicant’s credit history is checked.
I suppose saying instant approval is a bit of a misstatement. In most cases it takes about 60 seconds or so to get a decision. But that’s pretty fast anyway isn’t it? If the application is approved then the applicant is notified of acceptance by e-mail. It’s a pretty simple process really.
There are several instant approval credit card offers available. Discover has quite a few of them under their Discover More cards. Instead of calling them instant approval they refer to them as getting an instant response within 60 seconds.
Currently American Express credit cards offers a near instantaneous decision on cards from their American Express Blue line. They refer to it as express approval. It’s all semantics because they all work through the same process.
Once the application has been submitted it takes time to retrieve the necessary information in order to make a decision as to whether or not the application will be approved or denied. If the application is denied the individual will be encouraged to contact a representative from that issuer if they so choose.
One recurring misnomer should be dispelled however. Some people seem to think that even though they get an approval e-mail that they can somehow immediately begin using their new credit card. That’s not the case at all.
The card must first be produced and mailed out to the account holder. They will then be instructed to dial a phone number in order to activate the account. Only when this has been done successfully will be cardholder be able to use their new credit card.
To find instant approval credit cards you need only go to a site that features them in a category dedicated to cards that offer instant approval. From there it is rather easy to compare features and benefits, including interest rates and fees, in order to choose the right offer for you and submit a credit card application.
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