There are very important things that one should consider especially when looking for a credit card application instant approval. It seems that most of these people are confused to what they are and how these credit cards work. This one tackles important things about getting credit card application instant approval. But before we deal with that, let us start by answering these two questions first:
1. How does the process work?
2. What are the needed requirements to qualify?
Credit Card Application Instant Approval Process
The process of getting a credit card begins when an applicant fills in a online application where there is an offer for an instant approval. Naturally, an applicant would fill out the application form and submit it just like applying in any credit card.
After the application form has been submitted, it will be forwarded to the issuer’s database to review whether the applicant’s personal and financial information meets their standard. The main thing that will be given careful scrutiny here is the applicant’s credit rating.
What Are Instant Approval Credit Cards?
The use of the phrase “instant approval” is actually misleading. As a matter of fact, it only takes sixty seconds for the issuer to review the application form. After which, they will give a call to the applicant and inform him whether his or her application has been approved. Well, that is actually pretty darn close because the certainty of getting instant approval is vague. What is certain here is that you will get an “instant feed back”.
But that can be understandable of course. It is because it takes some time to query to a credit bureau for you to get the necessary information about the applicant’s credit history. This is certainly the deciding factor whether a particular application should get acceptance or denial.
Credit Card Instant Approval Requirements
So what are exactly the needed requirements to get instant approval? It is as simple as meeting the credit rating standard of the issuer for you to get an instant approval.
As a general rule, credit score of 720 and above are considered excellent; 750 and beyond belong to the threshold category. The higher your score becomes, the greater your chances of getting an instant approval. When you have a good credit rating, then you will get a sixty-second period of waiting for your approval.
After your personal and financial information are crunched in the computer, you will soon be notified. When you are approved, you will just have to wait for the mail where they have sent your credit card. When you have received the card that will be the time when it gets its activation. As you can see here, there is a big difference between instant access and credit card application instant approval.