Instant Approval Credit Cards Are Deceptive

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Instant Approval Credit Cards Are Deceptive

instant approval credit cardsInstant Approval Credit Cards Beware

Are you tempted to grab one of the many instant approval credit cards you see at the checkout counter of your favorite shops that dare you to get cool discounts? Well, here’s a word of warning and ignore it at your peril – before you start signing up for any type of credit cards read the fine print, read it well and then inwardly digest it.


In fact, make sure you understand every single word and phrase, because some companies that offer instant approval credit cards may not be packing as many perks as they promised and saving a few dollars today with those offers may end with you paying more than you bargained for in the long run.

However, with so many options to choose from, you can still find instant credit cards that are better for you.

What are Instant Credit Cards?

Many credit card companies take time to process your application before your card is delivered to you. With an instant credit card, you qualify for the card almost immediately. These credit cards are found in checkout counters of retail stores, department stores and online shopping sites. Sales persons at the mall ask you if you have a store credit card. If you don’t, they will offer you to apply for the card and entice you with the promise of discounts or free services.  From then on, the application process follows. They also give a never-ending stream of offers via conventional mail, doing their very best to pitch their latest offers.


Down Side of Instant Approval Credit Cards

Though you get approvals instantly with these credit cards, there are still the cons with their offers that you should be aware of. A common misunderstanding with an instant credit card is you will get instant access to credit. That is not always the case.

The instant approval process only qualifies you in the application process. You still have to fill out an application and go through the process like everybody else. That is to say, with instant approval, you qualify for the process and not the actual credit card itself.  However, it increases chances for customers to lie about their income in order to seek approval for the cards.

In addition to this, an instant credit card may have higher interest rates than conventional credit card offerings. In this case, you may end up costing you more in interest than you gained in the perks. In contrast to the conventional card offers, an instant credit card may not offer introductory interest-free period at all. And like conventional credit cards, the people who will get an instant approval are those with good credit histories.

Instant credit cards will require information about your credit history from at least one major credit bureau so do not attempt to seek approval for too many instant credit cards because too many credit inquires at the same time would most probably hamper your credit rating.

You may think instant credit cards offers, or at least some of them, are too good to be true and they pretty much are. But you don’t have to dismiss all offers right away. If you still want to avail of these offers, you should do your own research of various instant approval credit cards and make a comparison of each one of them.

You will be able to find a card that has competitive offers, like good interest rates, balance fund transfers, reward programs and the like.

While these kinds of perks are not usually offered with instant approval credit cards, they are still available. You just have to be patient and you may just find the one with offers that attract you best.

But remember, you should also be honest about your income when you can seek approval for your instant credit cards or you may delay your application even further, or worse than that, you could ruin any chance of ever getting an approval in the foreseeable future and that won’t do your credit rating any good at a


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Instant Approval Credit Cards Beware
Tempted to grab one of the many instant approval credit cards? Before you start signing up for any type of credit cards read the fine print, read it well and then inwardly digest it.

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