Basic facts about instant decision credit cards

Find out what instant decision credit cards is all about.

05:14 14 November 2013

Applying for an instant decision credit card sounds like a great thing to do since you’ll not have any reason to wait or follow up letters and calls to know if your application has been approved or not.

 

When credit card providers lend out money, they do so at the risk of the client not returning the money so they use credit scoring to work out the risk level that may be involved in lending out the money

 

Some people get their applications approved instantly- if they meet the requirements the credit card provider is really looking for or if they have an incredibly lower rating than average. However, some people don’t get their application approved reviewed and approved by the company inside sixty seconds. Maybe your application cannot be reviewed by ‘soft credit check’, and may need to be reviewed further before they give you their final decision. 

 

Knowing where you stand when applying for instant decision credit cards

 

A lot of established credit card providers out there provide an application on their website which can help you know where you stand when applying for a credit card. This application performs a soft footprint check on your credit file in order to give you a hint on the likelihood of your application coming out successful.

 

The online application will not affect your credit rating in any case even if you don’t get a positive answer as to your possibility of being accepted so you have nothing to fear.

 

How long before I get the instant decision credit cards?

 

Just like your standard credit cards, instant decision credit cards are not guaranteed. Applicants will have to wait until they are confirmed by post, or the card is sent to their homes. 

 

The time to receive confirmation on your application varies but is usually within 10 days depending on the company you use.