Play Audio Version Of This Post
When preparing to fill out the application be ready to include your basic identity and contact information. You should also have your Social Security number, birth date, and mothers’ maiden name. If and when you are approved, you can expect your card in ten days to two weeks. You must remember once you receive your card to activate it or you will not be able to use it for purchasing. Usually this requires calling the credit card company and verifying your personal information.
Pros and Cons
There are many benefits to instant online approval credit cards. You have the ability to compare various offers and to see which one offers the best rates. One of the greatest benefits is being able to know within seconds whether you have received approval. It is also helpful to receive this card in a relatively short period of time so that you can begin using it.
However, there are a few downsides to cards that offer instant approval. Often they are primarily for people who have excellent credit. There are a few cards that offer online approval for those with bad credit and in fact people in such situations should think very carefully before going after the potential for even more debt. Many cards require deposits or proof of a checking account. Instant approval credit cards also make it too easy to get credit and lead to financial over-extension in far too many cases.
Various credit cards offer online approval. American Express offers instant online approval for its Blue, Blue Sky, Blue Cash, Green Rewards and Gold Rewards cards. Discover Card offers instant approval for its Platinum card, and for the Discover student credit card. Chase, HSBC, and Citibank also have cards that offer instant credit card approval. For business owners, American Express offers instant approval for its Platinum Business card, and its Business Gold card. (You can locate the website for any of these companies by simply visiting your favorite search engine and entering the company name in the search field. Always be sure you are on the company’s official site before giving any personal information online.)
A Word of Warning
Care should always be taken when giving out personal information online. Consumers should be sure of the site’s security, and the security of their computer. Instant online approval credit cards are not necessarily the cards for you. Read all terms and disclosures before applying for the card. Most of all always use credit cards responsibly. Instant approval may be tempting. Be aware of your financial limitations and keep your long term financial future in mind when seeking instant approval credit cards.