Instant Decision Cards

Updated: Oct 10, 2020
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There are a lot of options when it comes to credit cards. It can often be difficult to figure out what a certain type of card does. At the same time, a lot of different credit card providers describe their cards in different ways even though they do the same things.

Instant decision cards are a type of card that many people are puzzled with. All kinds of credit cards can be 'instant decision.' What makes them unique is that applicants get an instant evaluation of whether they will be approved for a card. These cards are great for people who have good or excellent credit. Lenders do a soft check that doesn't leave a dent on the credit score. However, people with bad scores can also benefit from instant decision cards as they can instantly know whether they may qualify.

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Instant Decision Card Features

There is a large number of credit cards you can apply for online really quickly. However, in most cases, you will get the answer to your approval status in weeks. At the same time, when you finish the application process, there’s nothing you can do about it.

If the lender has a policy of performing hard credit checks, there’s no way to stop it. That might reduce your chances of getting some other card, and you will have to spend a lot of time waiting for the answer. Instant decision credit cards work in a different way.

Getting an Answer Quickly

For some people, time is essential. They don’t have the luxury of waiting for a week to get an answer regarding their approval status. Instant decision credit card lenders will often give you an answer in a matter of minutes.

In some cases, you will only have to wait for a minute to know where you stand. We live in a fast-paced world, and you need to find out what your financial options are quickly, which is why instant decision cards are becoming more popular.

Soft Credit Inquiry

Soft credit inquiries are always used with instant decision cards. They require a little time to process, and that’s why instant decision card providers use them.

Soft inquiries don’t have an effect on your credit score. Simply put, they don’t appear in your credit report. Your score won’t drop, and even if you are rejected, you’ll be able to apply for some other card without any consequences.

Three Potential Answers

When applying for an instant decision card, there are three potential answers you can get:

  • Accepted
  • Declined
  • Referred

When you are accepted, you can finish the application and receive your card. When declined, it means that you don’t fit the credit criteria set by the lender. The third scenario is to get referred; in which case you will have to give a bit more information. It means that you are close to getting approved.

If you’re unsure whether you can get a certain type of card, look for providers with an instant decision feature. This can give you an idea of where you stand without any consequences or hard inquiries.

Instant Decision Card Pros

Some of the most important benefits instant decision cards can have are:

Getting a Card Number Instantly

In many cases, lenders who offer instant decision cards also give you a card number immediately after being approved. It means that you can start using the benefits of that card straight away. You will only have to wait a day or two for the card to arrive.

Emergency Account

If you are in a hurry to get a new credit account for payment or something else, an instant decision card can be very beneficial. They can get you out of a tough situation and give you time to set your finances in order without being penalized.

Using New Card Features Right Away

Instant decision credit cards come in many different forms and can be used for various reasons. Some of them carry valuable features that are good to have right away.

For example, if you are looking to consolidate your debt quickly, these cards allow you to do so.

If you don’t have available credit, you can use these cards as an emergency credit line. You can expand your credit quickly and even get a higher value if the card has an intro APR of 0%.

Instant Decision Card Cons

Like with all types of cards, there are downsides. Here are some things you should be aware of:

Locking Yourself Into Debt

Just because these cards are easy to get and they don’t have a hard inquiry doesn’t mean you should jump straight into getting one. The simplicity of the process sometimes makes people feel like they are getting a candy bar and not a mere credit card.

Not Thinking About The Card Features

Instant decision cards are so valuable that people often don’t even think about the card itself. Just because you can get a card right away doesn’t mean it’s good.

Always make sure to check what you will be getting with your instant decision card. You need to make sure that you will be able to use that card properly without creating credit issues for yourself.

Should You Use Instant Decision Cards

Absolutely. No matter if you have an excellent, good or bad credit score, you should apply for instant decision credit cards whenever possible. It’s basically an application benefit that has no downsides. The fact that you get an instant answer doesn’t impact the features of the card itself.

Bottom Line

Instant decision credit cards are great for people who want to reap the benefits of a certain card right away. They are also risk-free as applying for them doesn’t affect your credit score. Still, not all of them have low requirements or great features.

If you need a new card to make purchases or want to improve your score, they can be a good choice. The important thing is not to be blinded by the quick approval process and think about if you actually need to card.

Instant Decision Card Offers Recap

Instant Decision FAQs. What People Ask About Instant Decision Card Offers

What information do I need to provide when applying for instant decision card?2020-08-31T22:42:59-07:00

Different lenders have different requirements. However, in most cases, you will have to deliver the following information:

  • Some government-backed documents as a proof of identity (passport, personal ID, driver’s license…).
  • Current income and place of employment (lenders need to know how much you make and how to determine if you can qualify).
  • Personal information like contact email or number
  • Place of residence
  • Full name, and so on.
Can I apply online for intant decision cards?2020-08-31T22:43:24-07:00

It really depends on the lender, but in most cases, yes. The point of these cards is quick access and getting a quick answer. With this in mind, it makes sense to allow people to apply for the card online.

It’s all about convenience and bringing the cards closer to users. The process is simple, like with any other card. You will have to give relevant information before you get your answer.

I have a poor credit score, should I apply for an instant decision card?2020-08-31T22:43:16-07:00

Yes, of course. The beauty of instant decision cards is that there are usually no hard credit inquiries on your application. So, there’s no risk of damaging your score even further.

At the same time, people with lower credit scores have limited options. Since they can improve it with certain cards, it’s important to know if you will get a card and start the process of repairing your score ASAP.

Are instant decision cards worth it?2020-08-31T22:43:31-07:00

Yes, they are. Any type of card can be an instant decision card, whether we are talking about shopping cards, travel cards, balance transfer cards, and so on.

The added benefit doesn’t affect all the pros of the card itself; you can quickly learn if you are eligible for it and start using it instantly.

What are my chances of getting instant decision credit card?2020-08-12T00:20:56-07:00

It all depends on your current credit score, financial responsibility, and the conditions set by the lender. Keep in mind that all instant decision cards are different.

Some of them are made to help you improve credit score; some give great benefits; some are exclusive cards for a small number of people, etc. Learn about the card and the lender’s criteria before applying. In the end, give it a go, it won’t cost you anything.

Can I use my credit account right away if approved?2020-08-31T22:42:52-07:00

This also depends on the card issuer, but in most cases, yes. If the company provides instant approval, they will likely give you a credit card number right away. However, this means that you won’t be able to use the card itself as it will take a couple of days for you to get it depending on the provider.

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