It is a very comforting feeling to know that we can have some sources when we run out of cash. Thanks to credit cards, instant help is on the way. The issue with owning a credit card, is it could drown the cardholder into debt with excessive and unnecessary shopping. So when you have, or plan of applying for one, make sure you have a great deal of control on your spending habits.
There are different kinds of credit cards, and each one has its own advantage and disadvantages. One of the more popular credit card types is the instant approved credit card. But what is the difference between this credit card from the traditional credit cards? Unlike all the other types of credit cards where you needed to wait for days and even weeks for approval, instant credit cards can be yours in just a matter of seconds! That fast!
This is how technology works with credit card companies; through the Internet, a transaction like a credit card application that takes months can now be done with just few clicks and seconds. Almost all major card companies now offer this kind of fast service. Application forms are filled out and submitted online, and within few seconds you’ll have the company’s decision. When an applicant has a very good or excellent credit record, you’ll get the approval right then and there and in just few days you can start shopping around with your new instantly approved credit card.
If you’re wondering how the background check is done that quickly, this is how it works: card companies enjoy the benefit of using sophisticated network communication, which is designed for the bank industry. When an application is submitted, banks can have a fast and easy access with the three major credit bureaus- Trans Union, Equifax and Experian. Doing this would give the bank your credit score and determine whether you fit for the approval or not.
If you are considering of applying for an instantly approved card, it pays to know the benefits or advantages that you will be enjoying. First, you can enjoy an offer which may not be available with a conventional card such as 0% APR on all purchases, and/or a transfer of balance for a specific period of time or take advantage of bonus travel miles.
Another advantage is that you can immediately use a portion of the credit card your bank has approved for you. You can start using the credit card even without the credit card yet; you will be given a code to be temporarily used while your card is on its way.
A common misconception is that online credit card applications could be exposing your personal information to possible scammers. Applying for a credit card instantly online is even safer than having to mail it. Card sites are secured sites and could not be easily decoded by anyone hence making your information safe.
It may be easy, but make it a rule of the thumb to practice wise spending habits.