Getting fast approval on credit cards is important if you need access to credit immediately, or if you want to get through the process of getting a new card quickly.  There are a few ways to make sure you get an “instant approve” message when you apply.

Fast approval means you are a good risk for the company.  Remember that credit card companies are big business.  They make money when you borrow money and pay it back slowly over time.  For that reason, the credit card company with fast approval wants to make sure you are likely to pay back the money you borrow, and you are going to use your card.  These companies look for a few things when they view your application.

Your credit score is a big factor in fast approval, though it does not have to be exceptionally high in all cases.  In many cases, a moderate credit score will get you an approval for $500-$1,000.  You will need an income that the company views as high enough to make payments easily on the money you will be able to charge.  For that reason, someone with a $20,000 income won’t be approved for as much as someone with a $60,000 income.  You can improve your chances by having a better income, which isn’t easy, but is how fast applications work.

Credit Scores For Fast Approval

Instant approve credit card processes really work best for people who have excellent credit.  When you fill out the information online or give it over the phone, the company is pulling a credit report.  The software system the company uses checks your credit, and scores above a certain amount will receive an instant approve message, resulting in immediate credit.  If you don’t have an excellent credit score, you may have to wait for someone to review your information manually.

If you know that your credit score is not as good as it should be, you also can look for companies that specialize in giving fast approval for credit cards to people with less than perfect credit.  Orchard Bank®, at www.orchardbankc.com, is one of these companies.  They specialize in helping people rebuild their credit, and they are willing to give credit to people who have bankruptcies more than a year in the past, or who have had other problems with their credit.  Checking out companies and their likelihood to give you credit before you request an approval is a good way to make sure you will get the instant approve you desire.

Secured Credit For Fast Approval

Secured credit cards are quickly becoming an offering at every credit card company.  A secured credit card requires you to put an asset against the card.  In most cases, you will need to put cold, hard cash against the card.  The balance on the card will be whatever money you put down, though you can request an increase in a few months’ time.

People use these secured credit cards when they do not have credit, but need to use a credit card for something upcoming.  If your teenager will be traveling with friends, for example, you may put $1,000 on a secured credit card for him to use.  When you know you will need to secure hotel reservations, car rentals, or other rentals that require a credit card, getting a secured card is an easy way to get the “instant approve” message you need to make sure you can make reservations.

To get a company instant approve your credit card application, you will need to have some basic information handy.  The first piece of information you will need is your social security number, so if you don’t have it memorized, now is the time to go searching for your card.  You also will need to have information about your pay.  Some companies will ask for your monthly, weekly, or hourly pay.  By asking for this information, the company’s representatives can determine whether or not you have enough money for the amount you are asking to have approved.  With many instant credit applications, you will be able to choose the credit limit you would like.  Always pick something higher than what you need, so you have some wiggle room when you get the number.  Other companies simply make you an offer with a credit limit, and you can accept or reject the offer.

One option is to try using a service like www.credit.com or www.creditcards.com.  These sites give you several choices, meaning you have to enter your information only once to get potential approvals.  Two additional sites are www.creditcardguide.com and www.extracreditcards.com.

Another helpful site is www.bankrate.com.  If you already know your credit score, you can look through the charts at Bank Rate to determine which cards would likely be approved for your credit situation.  You also can go through specific bank websites if you are loyal to particular company.  Sites such as www.bankofamerica.com and www.citi.com will allow you to apply for instant credit on their sites.

Once you get the approval, what will happen?

First, you will be asked if you want to accept the approval or not.  Think about whether you can use the amount listed and whether you are likely to be responsible with it.  When you know you want to accept, go ahead and do so.  You will receive some documentation about the credit card company and their policies, including fees for late and missed payments.  Pay careful attention to these notices and keep them for future reference.

Next, you will wait for your card.  Most credit cards will take a week or more to arrive, but in some cases with fast approval applications, you will get the number immediately.  You may be able to use the number to make purchases online in some cases.  When you do get the physical card, make sure to record your account number along with the company’s customer service number in case the card is lost or stolen.  Then call to activate the card, and you’re ready to go!  You now have access to credit.

Being responsible with this credit will result in higher credit limits over time.  Most credit card companies have automated review processes that will adjust your credit every three to six months, depending on how well you maintain the account.  Even if you aren’t happy with the limit you got on your fast-tracked application, stick with it, and the company may instant approve your card for a higher limit soon.