With so many different banks and credit card companies, it’s easy to get caught up in chasing down the best rates. Banks don’t advertise their rates, but they do offer the best credit card for their clients. When deciding on an instant approval credit card, it is important to take a look at the different offers and their terms.
Instant approval credit cards follow a few basic rules.
1. What You Are
2. The Type of offer (APR, cash back, points) must match up with your needs and interests.
3. You must have a good or solid credit history.
When choosing credit cards for instant approval, you should look at the different interest rates, maximum funding options, monthly installments, and grace periods. The question becomes, ‘Which credit card is right for me?’ This is especially true if you have a history of unexpected cost increases that could prevent you from getting an instant approval credit card.
Other factors to consider when researching an instant approval credit cards are the annual fee, the eligibility requirements, credit limits, and how long the instant approval will last in full.
3.1. Annual Fee
American Express will generally consider anything under $1500 and vary from -1% APR, up to $5050 and up. If you are like most Americans and never use a credit card, then a credit limit under $2500 might be the best interest rate for you. Other interest rates may be 7.9% CMC or even above.
The interest rate for instant approval cards varies at least twice as much. For example, a balance of $2500 on an American Express standard or Citibank card would cost you 14.49% APR. For another card, an American Express Plus card, the interest rate would be 11.14% APR.
If you pay the fees, an instant approval credit card with annual fees is not a good idea. There are several options on the internet to seek information on fees and interest rates.
Some online sites will charge you a single fee for every transaction on their websites. Others will charge you a monthly fee and a processing fee.
If you are concerned about the extra costs on an instant approval credit card with annual fees, it’s time to look over the options, and choose a credit card that comes with low interest rates for your instant approval fees.
3.2. Cash Back Credit Cards
If you currently carry a balance on other credit cards from month to month, you might want to consider a cash back credit card instead. If you must use this kind of card at the end of each month, there is little you can do other than look for other costs.
If you are saving money on the cash back credit cards, you should still consider looking into making your payment on time and in full. Credit card companies usually offer better rates than if you pay the introductory APR directly on the card.
The Cash Back Rate is the rate that usually applies to the balance transferred from the regular reward credit card. The difference is that you pay the interest rate for the balance transferred. This rate does not include the additional charges you put on the credit card with the regular reward credit card.
So, if you are paying a high rate of interest on the cash back credit card, you might want to consider a cash back credit card with low interest rates. The flexibility of the cash back credit cards can be greatly appreciated by those who go through the regular card rewards.
3.3. Offers for Instant Approval
After you have looked into all the offers available on the internet and in your own personal credit card offers, you should be able to determine which one is right for you. Check out the different rates that are offered for instant approval offers, and make sure that you check out all of the credit card companies that are offering their introductory offers at the same time.
You can be sure that you will find one that is right for you. Make sure that you contact each company that has offer of approval, and check them out. Depending on your needs and circumstances, it can take a while to get all that the offered company may offer at the same time.
3.4. Cardholder Choice
Even if you have a great credit history, it might take time for cardholders to find the same great features that are put on a standard credit card. For most people, most of the offers aren’t specific enough to bring up.
This brings us to our final type of fast and easy choice for instant approval with credit cards.
Sometimes if you need to use your credit cards in stressful situations or if you feel that it is not appropriate for you, there are companies out there that will match your needs and needs.