What You Need to Know About Instant Approval Credit Cards

W hen you need credit fast to sort out an emergency or pressing bill, instant approval credit cards provide the best alternative. You may be aware that regular application for credit card may take longer before approval, which may affect your plans, especially if you had a deadline. To take the burden from the application process, many users now choose to go for instant approval credit cards. With instant approval credit cards, the process involves on-line application, which prompts a quick decision from the credit card company. The response usually takes place within minutes to alert you whether or not you have been approved. When you submit your application, the credit card company runs an initial check on your credit worthiness. If you have a higher credit score, chances are high that you can get a positive feedback from the company. After verifying the information about your score, the company often issues a conditional approval, which enables you to secure credit even before you receive the card. The conditional approval is temporary as the company continues to perform more checks on your history. Creditors can obtain your credit history and worthiness by running a check on your financial background, your prior credit usage, and your income. Your preferred credit card company will verify that information to determine if your application meets their age and residency conditions. It is therefore important to note that instant approval is not a guarantee that you will receive the credit card. However, it is an important step to start obtaining credit as your application undergoes verification process. Generally, you need an excellent credit score to qualify for credit card issuance by a reliable company. There are cases where you may have limited credit history to determine your score, especially if you are a student. In such situations, you can fall back on other options offered by some credit card companies such as instant approval credit cards specifically for students. Other options available are prepaid or secured credit cards, which you can use in case of limited credit history.