How to Apply for An Instant Approval Credit Card

Copyright (c) 2009 Liz Roberts

If you have bad credit but you need a credit card right away, then you must look for a guaranteed approval credit card. There are two types of cards that offer guaranteed approval - prepaid credit cards and secured credit cards. Both a prepaid and a secured credit card can be acquired online. Below are the steps on how to apply for one:

Check out a credit card comparison website. Looking for the right card in the internet can be confusing. You can make your search a lot easier if you're going to use a credit card review site. These websites list all types of credit cards in the market according to categories. If you need a card with instant approval, you can go straight to the list of secured cards or prepaid cards to scan your choices. This way, you don't have to waste time looking at all the other cards that do not match up to your needs.

Spend more time evaluating. You can be sure that you will get approved once you submit your application. However, bear in mind that not all credit cards that offer guaranteed approval is worth signing up for. To avoid making a bad choice, spend more time evaluating your choices. Read reviews online, check out the card's rating, visit forums and get to know what people have to say.

Compare costs and features. If you want a secured credit card, then you want to look for a low interest rate. But aside from the APR, check the late penalty fee, over-the-limit fee, annual fee, and other transaction charges. If you prefer a prepaid debit card, check the "per transaction" fee and annual fee as well. The features provided are just as important. Make sure that you can use the card at your best convenience.

Ensure credit reporting system. It is very important to make sure that your prepaid card or secured credit card provides credit reporting service to the major credit bureaus. If this service is not provided, then look for another card. Remember that the only way you can repair your bad credit history is if your payments are properly reported to the bureaus.

Analyze the fine print. Every card has its own terms and conditions. Many cardholders sign up for what seems like a "great offer" without bothering to read the fine print. What they don't know is that the low interest rate and the perks advertised are all subjected to certain conditions. To avoid unwelcome surprises, spend time analyzing the Terms and Conditions of your chosen credit card.

Carefully fill out your online application. Once you have decided which card to choose, it's time to fill out your application. Make sure that the details you provide are correct. Before hitting the submit button, it's always a smart move the review your application to make sure that there are no errors. After submission, it usually takes only a few minutes to get a response from the credit card company. This is why you should only submit an application to an issuer after making sure that you found the right card.