Quickly does it - a speedy guide to instant decision credit cards
Nick Jenkins
Instant decision credit cards are really useful if you need a credit card in a hurry. You will know in minutes whether you have been granted approval for your credit card, using the online application forms. There are now many credit card issuers that offer instant decision credit cards, but how is it that they are able to offer such quick approval, where other credit cards can take days, if not weeks, to make the same decision?
Once you've got these things out of the way, it's time to do a bit of homework - but don't worry, this is the interesting stuff with which you can decide exactly which offers are going to benefit you the most. Instant decision credit cards offer the same levels of protection as other credit cards - fraud protection, online security, added consumer protection and so on - but, like other credit cards they are also subject to a wealth and variety of introductory offers, loyalty reward schemes and perks and, with a little shrewdness, these can make a noticeable difference to your pocket.
The issuer then processes your application by running a credit check against your application form. Doing this, they will check your credit score which will give them a good idea on whether or not you will be able to meet the necessary repayments, based on your past spending and credit behaviour. The decision itself will be made in minutes and returned to your computer screen. From there, it's simply a process of waiting for the physical card to be delivered to you and then using the card wisely to reap the benefits of the deals, perks and introductory offers that you have selected.
Applying online for instant decision credit cards couldn't be simpler. You can either take advantage of the links and services offered by the online comparison sites or visit the website of your chosen credit card and fill in the application forms from there. You will be required to be a UK citizen and be over 18 years of age with a current account and a regular salary. The information is then sent to the credit card company, using secure, encrypted servers that can only be unscrambled by the issuers themselves.
However, it's important not to let the attraction of a speedy decision distract you from investigating the perks and rewards that each of the instant decision credit cards may have to offer. Some credit cards offer 0% on balance transfers, others 0% on purchases for an introductory period, some a loyalty reward scheme that includes discounts on shopping or travel - and a few offer combinations of these types of deal.
Many consumers like to use online comparison sites to aid them in their quest for credit cards. Most of these sites devote considerable space to instant decision credit cards and display the offers, APRs and interest rates in a table that is easy to read and from which you can make quick comparisons and assessments. While it's obviously a good thing that no single card issuer has a monopoly on the credit card market, it does make choosing your credit card that bit harder. However, if you remember that the little bit of research you do can only be beneficial to you, it makes the process far easier to bear.
Nick Jenkins - a freelance journalist in the UK credit industry - reviews the pros and cons of http://www.mbna.co.uk/creditcards/index.html instant decision credit cards and the benefits of shopping around to benefit from the wide range of offers available with these cards.
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