Wednesday, November 11, 2009

Instant Approval Credit Cards - Are They Credit Builders?

Many people today have heard about the instant approval credit cards, but may not understand exactly what they are. Instant approval is the method used by banks and credit card companies to take your application and instantly make a decision based on data they get from your online credit report. It is different from traditional credit card applications because you are either approved or rejected as soon as your application is submitted.

Instant approval is a method that is different from instant decision. When a bank makes an instant decision, this means that a certain period of time is given to the credit card company to decide if an applicant is approved. They will typically do a detailed background check, and it may take days or weeks for them to decide if applicants are approved. Many people may have also heard of the term "instant credit."

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