Instant Approval Credit Cards:

Frequently Asked Questions

If you’re concerned about what’s behind the instant approval feature, you’re not alone. Many customers see this feature and wonder what’s all involved. Read on for answers to some of the most common questions about instant approval credit cards.
What does “instant approval” mean? This refers to how quickly you’ll get a response after sending in your online application. Credit card issuers take the information you send and run a quick check of your credit. Based on what they find, your application will be either approved or denied. All of this usually takes less than a minute.
I’ve been approved. Now what? The actual credit card will be shipped to your mailbox. You can expect it to arrive within 5 to 7 business days. When you receive the card, you may have to call a number and enter a code to activate it. Then you can start using it as you would any other card.
What are the catches? There are usually no hidden fees or other twists with instant approval credit cards. In some cases, after you send in an application, you may be asked to wait while the credit card issuer does a more in-depth credit check. This can happen if they need additional information or want to verify some of your credit history.
Are there any additional fees? Not for signing up. Some instant approval credit cards charge an annual fee, as other credit cards do. And for many of these cards, other fees, such as late fees and over-the-limit fees, will be similar to other cards. The instant approval part, however, is free of charge.
What other benefits will I receive with an instant approval credit card? Instant approval credit cards often offer additional features just like other credit cards do. Consider looking for a rewards program, bonuses for signing up, or other perks. The real advantage of the instant approval credit card is that you don’t have to wait to find out where you stand. If you’re like many who want to reduce the waiting time when it comes to applying for a credit card, the instant approval option may be a smart choice.