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Instant Credit Card Approval - Consumer Needs?

Aug 17, 2007
What Is An Instant Credit Card Approval? In the automated age, it is possible for companies to approve your credit card application online instantly. What you get from it are instant approval credit cards. Look at it this way, civilization had to wait centuries for instant noodles, but in today's fast paced world there just isn't that much time. Instant approval credit cards are the result of the internet economy as well as consumer wants and needs. Makes you wonder how Abraham Maslow would classify instant approval credit cards in his need hierarchy.

The Instant Approval Credit Card Online Process

The instant credit card approval works by using your social security number, address, another credit card you own and other details to collate your credit rating. You generally require perfect credit to be granted instant approval credit cards online. However sometimes people are given instant approval even when they do not have a perfect credit rating. There is no harm applying. Once the approval is given, it takes the physical card a few days to reach you by mail.

The Psychology of An Instant Credit Card Approval

In an age when "oceans apart" has lost its meaning, the food is instant and even marriages happen online, it was only natural for the need of instant approval credit cards to be felt. What occurs as a need in a group of people is generally a business opportunity for another group of people. Offering instant approval credit cards online also made sound economic sense.

The Economics Of Instant Approval Credit Cards

With a customer base existing, the instant approval credit card online was also a cheaper way to acquire a customer. With a customer coming looking for you instead of you looking for the customer, and an analysis of credit rating possible through automatic collation of customer data, instant approval credit cards are the cheapest and fastest way for companies to acquire customers.

Also, instant approval credit cards are charged at a premium. This makes it more profitable for credit card companies.

The Pitfalls

One must be careful while buying instant approval credit cards online. Though many vendors exist, some are better than others, and some are scams. Make sure to apply through a trusted vendor online or off.

Not applying through a trusted vendor makes information like your social security number, address etc. available online.

Also if you default on instant approval credit cards, you stand to pay a high rate of interest, since these cards generally charge a premium rate of interest.

Find Out Pertinent Details

All the details of your instant approval credit card must be scrutinized. Is the APR the best you can get? Do the perks offered fit your needs? More importantly do not apply for numerous instant approval credit cards at once as it can negatively affect your credit rating. Incidentally applying for an instant credit card approval is also a good way to find out your credit rating

An instant credit card approval is a fulfillment of the need for instant gratification. As such it is a good idea to be careful when going about it. If possible do a bit of homework. It may save you a lot of pain later. Though quick, make sure that your instant approval credit card does not amount to bad economics. Pay your bills on time. Everyone likes pizza, right? Just make sure you order the one you like and avoid the one that might upset your stomach.
About the Author
To decide if an instant credit card approval is the right answer for you, Robert Alan recommends that you visit CreditCardAssist.com
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