Fast cards for a fast lifestyle
Modern lifestyles mean that people have become used to the 'Now' factor in their lives. Long working days and crowded, busy lives mean that credit card customers don't have the luxury of being able to spend hours filling out application forms, only to have to wait days or even weeks for a decision. Customers demand online forms, instant decisions and for the card to be with them in a matter of a few days. This is why 'instant approval' was introduced. With 145 million credit cards and debit cards in circulation in the UK, instant approval for future cards can be seen as a good thing, adding to our modern lifestyle.
With instant approval credit cards you can get another credit card, fast. Instant approval is, as its name suggests, a specification relating to the application of the card and the guidelines set by the card company, not the card type itself. Cashback cards, reward cards and other types of credit cards can all come with the benefit of instant approval, if you can find the right card provider. Once you have found the type of card that you want, simply find a company that offers instant approval. But what exactly is 'instant approval'?
With an instant approval credit card you can apply for the card and be accepted in seconds. However, don't let that phrase fool you. Just because a card is advertised as an 'Instant Approval' card, does not necessarily mean that you will be approved. Perhaps a more accurate term would be an 'Instant Decision' card. Although you can get instant approval over the phone and in person at a branch, applying online can be even quicker. It's a simple process of visiting the card provider's website, filling out a form and hitting the 'apply' button. After a few moments you will find out whether you have been accepted for the card. Some companies are now offering 60 second instant approval, which is going to be pretty hard to beat.
In the past, this took a long time because your potential card issuer would contact one of the three credit referencing agencies that hold copies of this information in writing, by phone, or later by email. Nowadays, banks have greater access to this data directly. This means that when you apply for an instant approval credit card, the card provider contacts the credit reference agency electronically and immediately scans your report, generating a decision automatically according to specified criteria.
But is it truly instantaneous? Well this is a tricky question. It will depend on a number of factors. If you have a strong credit rating, yes. If there is some doubt, then your application will be sent for further verification, which means that you may yet be declined or that the process will take even longer. Sometimes banks offer 'instant decision' credit cards. With this the bank gives you a potential yes or no and then goes on to do the usual checks.
You will now be hoping that another card will be added to the 145 million cards currently in use in this country and this may well be the case. The whole process is surprisingly simple and can be very quick. You simply find the card of your choice online, through a price comparison site, apply for the card and, if you have a strong credit rating and all goes well, you are accepted. The card will then be sent to you and here you will have to wait, no matter what the decision. Luckily, with instant approval credit cards, you may find you new card arrives in a matter of days, rather than weeks.
With instant approval credit cards you can get another credit card, fast. Instant approval is, as its name suggests, a specification relating to the application of the card and the guidelines set by the card company, not the card type itself. Cashback cards, reward cards and other types of credit cards can all come with the benefit of instant approval, if you can find the right card provider. Once you have found the type of card that you want, simply find a company that offers instant approval. But what exactly is 'instant approval'?
With an instant approval credit card you can apply for the card and be accepted in seconds. However, don't let that phrase fool you. Just because a card is advertised as an 'Instant Approval' card, does not necessarily mean that you will be approved. Perhaps a more accurate term would be an 'Instant Decision' card. Although you can get instant approval over the phone and in person at a branch, applying online can be even quicker. It's a simple process of visiting the card provider's website, filling out a form and hitting the 'apply' button. After a few moments you will find out whether you have been accepted for the card. Some companies are now offering 60 second instant approval, which is going to be pretty hard to beat.
In the past, this took a long time because your potential card issuer would contact one of the three credit referencing agencies that hold copies of this information in writing, by phone, or later by email. Nowadays, banks have greater access to this data directly. This means that when you apply for an instant approval credit card, the card provider contacts the credit reference agency electronically and immediately scans your report, generating a decision automatically according to specified criteria.
But is it truly instantaneous? Well this is a tricky question. It will depend on a number of factors. If you have a strong credit rating, yes. If there is some doubt, then your application will be sent for further verification, which means that you may yet be declined or that the process will take even longer. Sometimes banks offer 'instant decision' credit cards. With this the bank gives you a potential yes or no and then goes on to do the usual checks.
You will now be hoping that another card will be added to the 145 million cards currently in use in this country and this may well be the case. The whole process is surprisingly simple and can be very quick. You simply find the card of your choice online, through a price comparison site, apply for the card and, if you have a strong credit rating and all goes well, you are accepted. The card will then be sent to you and here you will have to wait, no matter what the decision. Luckily, with instant approval credit cards, you may find you new card arrives in a matter of days, rather than weeks.
About the Author:
Rebecca Gold has many years experience in the financial sector, she now writes for various popular websites. Read more about the Instant approval credit card and the Credit card application here.
posted by Credit Counseling at
1:40 AM
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