Instant Approval Credit Cards at Retail Stores

Credit cards are offered almost everywhere we look today. They're in the newspaper, television and all over the internet. Almost every online store you see has an offer for their credit card. Many of these offers are for instant approval credit cards. This means that you'll either get approved or denied for the card but you'll get your answer instantly. Another place where you frequently see this type of card offer is at retail stores.

Retail Stores-the only one that will guarantee instant approval or denial
Although you'll see many of these credit card offers are listed as "instant", many times they are not. For one reason or another, they may need more time to evaluate your application, verify your income or credit. The only card offer that is truly for instant approval credit cards are the ones you see at retail stores. Have you ever been shopping in you favorite retail store (JC Penney's, Kohl's, Best Buy, Macy's, etc.) and see special discounts if you use their charge card? These are the type of offers that will result in an instant answer. You apply on the spot and are given their answer within minutes.
These offers of instant approval credit cards at retail stores take advantage of impulse shopping. They offer a special one-time discount off your merchandise if you apply and use their card for the purchases. They are particularly popular during the holiday season, when shopping is huge and sales are already in all the stores. You have $300 worth of merchandise in your cart that is already on sale for 25% off and you see their credit card offer of 15% off if you use their card. This sounds like a great idea, right? Think again.
Avoid Retail Store offers
You may be thinking of all the money you can save on your shopping if you apply for this card. What you're not told in these offers is that these instant approval credit cards usually charge the highest amount of interest and offer the worst possible terms. They may be giving you 15% off your merchandise if you apply for the card today but when you get your bill, you'll be charged 25% interest, or possibly more, on you merchandise. Suddenly, that savings isn't all that great. These offers at retail stores should be avoided unless they have extraordinary terms. Only consider these retail store offers if you are a cardholder that pays their balance in full each month. This is the only time you'll ever save on these instant approval credit cards.
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