Getting Online Credit Card Approval

by : Jeff Moynihan

With the advent of the Internet, the way we run our businesses has changed dramatically. It has made the world spin faster and no one wants to wait for anything anymore than few seconds to few minutes. Waiting for 300 seconds too long and it is frustrating. The credit industry tries to exploit this growing weakness of the society to market its products. They try to attract customers through instant online cards and online credit card approval schemes.

How does the online credit card approval system work?

Once you fill your application online for your choice of credit card your credit details will be verified by the system; if you have your credit history anywhere between good and excellent then you are certain to get your card application approved and you will be notified of your status through email. In case of poor credit, your application will be declined and this too will be notified of the status of the application.

Is it safe to apply online?

You have to be careful while you apply for any cards; stories on online card scams never cease. Try to identify reputable credit card companies before you apply for your card. If you suspect that the application is requesting unnecessary information then be warned and try to check on other online application forms to see whether they request similar information. Secondly, be cautious of the terms and conditions; double check everything before you submit the details. Many online card approval schemes demand security deposits. The range of security deposits vary from $200 to $600.

Is online card approval really useful?

The answer would be yes and no. It is useful because you know the status of your application for the card instantly, you will know whether your application has been approved or not. You save yourself from the painful period of waiting and also the frustration when your application happens to be declined. It is lot more helpful to be updated of the status even if it is going to be declined so that you can start checking out for other options.

Besides that, card applications to a great extent seem not to worry about the credit history. There are people who have got their application approved even without a good credit history. However, we are not sure whether those are some exceptional cases or whether that is the general trend with online card applications. For some strange reasons there are also people with good credit history whose applications have been declined. This can be due to various possible reasons including the inability of the system to access the credit history of the applicant at the time of the application submission.

Even though your application gets approved instantly you have to wait for your card to reach you through mail before you can start using it. This is yet another marketing gimmick from the credit cards industry.

Summary: Today it is possible to apply for credit cards online and know the status of your application through online credit card approval. You have to be extra careful while applying for your card online enticed by instant approvals, as you might become one of the victims of online credit card scam.