You may have heard of instant approval credit cards but have question as to what they are and the way in which they work. As you find offers that state they are for instant approval US credit cards, this means that once you submit an application online, you would receive a denial or approval in less than 60 seconds. In fact, some will provide an answer in only 20 seconds.
Keep in mind that even with instant approval US credit cards, there are some people who have situations that require more review. In this case, the individual would complete the online application and within the 60-second period receive a message to the effect “To finish processing your application, more information is required. Please contact the customer service department at (phone number) or “To complete your application, you will need to provide information requested in a letter that should arrive within seven to ten business days.”
In this case, it does not mean the instant approval US credit card is being denied but that because of the situation, the underwriters need additional information. The one thing to remember is that most credit card companies and banks that make instant approval offers are based on the applicant having excellent credit. It does not mean that someone with good credit would not be approved but the process may take longer.
As with any type of credit cards offered in the US, those advertised as instant approval need to be considered carefully. While most companies are honest and the cards great choices, unfortunately some issuers use an offer such as this to their advantage, perhaps gaining a person’s personal or financial information, or introducing what appears to be an excellent card only for the cardholder to discover multiple hidden fees and restrictions. Therefore, as you shop around for the right instant approval US credit card, choose wisely. The following are just a few options that you might consider.
• NetSpend Visa Prepaid Card – What makes this particular instant approval credit card different is that it is a prepaid card. That means no one would be denied. The way the card operates is that up to $10,000 can be loaded onto the card and as the balance decreases when purchases are made, additional money could be loaded. This card comes with no minimum balance requirement, no overdraft fee, and direct deposits from paychecks or government checks are allowed.
• Centennial Classic Credit Card – For this instant approval US credit card, features include 24-hour phone access, reasonable credit limit, monthly reporting to the three main credit bureaus, and the card could be used anywhere in the world where MasterCard is accepted. With this card, the focus is on people with poor credit.
• American Express Premier Rewards Gold Card – For this instant approval US credit card, membership rewards include points that can be earned quickly and then redeemed for a variety of purchases. While there is an initial $175 annual fee, after the first year the fee is waived. Then, if $1,000 were spent using the card within the first three months of being a cardholder, you would earn 15,000 membership rewards points.
• Starwood Preferred Guest Credit Card – Another instant approval card we wanted to mention is this. The card offers no annual fee for the first year, followed by a $45 fee for each year thereafter, a Starpoints system whereby 25,000 points can be earned for hotel stays, a 2.90% introductory APR for purchases and balance transfers, and a regular APR of 15.24% thereafter. In this case, qualifying for approval would depend on having excellent credit.
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