Instant approval credit cards let you know if you've been approved in 60 seconds. However, instantly approved credit cards still have to arrive in the mail.
Instant approval credit cards are essentially a thing of the past. A few years ago, it was possible to apply online for a credit card, get instant approval, and use your new credit card immediately. This is no longer possible.When you apply for a new credit card online, many companies, such as Chase and American Express, will inform you if you have been approved or not in sixty seconds or less. However, even if you get an instant approval decision, getting your hands on a new credit card can take anywhere from three to seven business days. And that's just the beginning.
Although many credit cards offer instant online credit decisions, only individuals with very good and excellent credit will truly get an instant decision. For many applicants, the application process cannot be completed online. If this is the case, you can expect to wait as many as five business days to get an approval decision as well as three to seven business days for your new "instant credit card" to arrive in the mail. Unfortunately, this can translate into a wait of up to two full weeks to get access to a new credit card.
If you're looking to take advantage of 0% interest rate offers to save money on holiday shopping, the best thing to do is apply as soon as possible. The closer it is to the holidays, the longer you can expect to wait for a new instant credit card to arrive. Below are also a few options you can take to get a new credit card in your hands as soon as possible:
1.) Apply for multiple instant credit card offers. Every credit card issuer takes a different amount of time to process an application and each issuer also has different qualifications it uses to determine approval. So, for example, you may be approved for a Chase or Discover credit card, but not for an American Express or Citi credit card. Or, you may be approved for all of the credit cards, but you may receive one credit card a week earlier than another. Applying for multiple cards increases the chances that you will receive a new credit card quickly.
Plus, if you do get approved for multiple credit cards, you can choose to accept the instant credit card offer that provides the best 0% interest rate terms, rewards program, and long term APR.
2.) Apply for an instant credit card as early as possible. The closer it gets to the holidays, the longer it takes to get your new credit card. Not only is the mail system backed up, but the credit card companies also find themselves backed up with a higher than usual volume of applications.
At Credit Card Depot, you can compare a wide range of current 0% APR instant approval credit cards in our instant credit card section. We list over 100 online credit card applications in easy to compare charts. Simply find the credit card or cards that offer the best deals, and apply online for an instant approval decision.
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