What exactly is an instant approval credit cards for bad credit no deposit? Any credit card that can instantly approve your application in less than a minute after applying usually offers an instant approval. Whether or not you are approved for the particular card, but, that’s another matter. But, here’s what an instant approval credit card means:
If you are applying for any type of card – Visa, MasterCard, Discover, JCB – and you have less than perfect credit, then it almost goes without saying that your application process will take quite some time. And this is because your credit score is one of the most important factors which determine your eligibility for an instant approval credit cards. Credit ratings vary from company to company, but the typical applicant’s credit score is about 620 points. If you apply for a card that comes with an instant approval guarantee, it almost goes without saying that you will be denied right away. Credit card issuers see to it that the score of their customers is always high.
There are times, when the issuer does offer instant approval credit cards. But, issuers do this only to lure people to apply for their cards. In other words, they offer these services to draw people into their doors. These services can come in the form of offering a cash back, or points schemes.
Now, if you think about this, then you would understand why issuers give out instant approval credit cards. Suppose you are a student who plans to buy some books and snacks. And suppose your friend says that there’s a restaurant right across the road from your dormitory which serves dim sum. You know that you need to make a few trips to the cafeteria in order to stock up on your favorite snack or meal. Well, the restaurant’s owner tells you that he has a fantastic menu and it tastes really good.
Further, you also know that you have to take care of a lot of other things while making your orders at the restaurant. So, you say that yes, this restaurant is good. And as soon as you fill up your instant approval credit cards, you get approved for the purchase at once.
But, what if the person who is giving you the okay to make the purchase also mentions something else? Suppose the guy also says that you’re a terrible decision maker because you always get rejected for every purchase that you make. Now, if this is the kind of customer you have been dealing with, then issuers would offer instant approval credit cards just to spite you.