Instant Approval Credit Cards What They Really Mean

You can own your own your own credit card in seconds! With the many offers of instant approval credit cards, it only takes a few seconds to apply and get an answer to your application. If you've never had a credit card in your name before, this can be a very exciting prospect.

However, it's important to realize that even though they state that they're "instant approval credit cards", it doesn't mean you're going to have your credit card instantly. What they mean is that IF you're approved for their credit card, you know longer have to sit in front of your mailbox for weeks waiting for an answer. You'll have your answer in seconds (in most cases) but you won't have the card in seconds. You'll still have to wait for that to come snail mail. Here's how they work.
How These Offers Work
You see an offer online for a credit card that sounds like a sure shot. You fill out the online application and click on the "submit" button. Meanwhile, your application is processed by a computer system that takes your name and your social security number and processes it into a large system that will kick back your credit report and credit score. Based on what is on your credit report, they will either approve your application or deny it. If you are denied, you will also receive a letter in the mail stating that you've been denied along with the name of the credit-reporting agency they used to make their determination.
Many people mistakenly believe that because they are called instant approval credit cards, that they are automatically approved. They go by the same criteria they would go by if you applied through the mail. The only difference is that you get your answer instantly. Another difference is that if you are approved, you will get the card in the mail quicker than if you had applied through the mail. This one thing makes these offers so attractive.
Mistakes to Avoid
Offers for instant approval credit cards will often find many consumers quickly applying for a credit card, whether they need another one or are getting their first. The mistake they often make is in grabbing the first offer they say without learning all they can about the credit card such as APR, annual fees, late fees and general terms and conditions of the card. With the many credit cards available, including the offers of instant approval credit cards, you have enough to choose from that you can be selective and choose the one that will save you the most money.
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