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What does an instant credit card application mean? Several credit card companies offering online and offline credit card services state that they are the sole providers of the best credit card catering to your needs. Some even go as far as to state approval of your request the instant credit card application form is submitted. This leads to feeling among the customers that it is possible to download a copy of the card and start purchasing on it right after submitting the application form. Not true! Many credit card companies do accept what they refer to as instant credit card application but the approval itself can take a few minutes. Some companies take one to several weeks for approval.
Online Credit Card Applications: A Blessing or a Curse
The Internet has changed so many aspects of our lives. Many of us today can do so much more through our computers and the World Wide Web then we would have ever dreamed of 10-15 years ago. Today, we can study, shop and work right from the comfort of our own homes. All we need is a computer with a high speed Internet connection. This futuristic Phenomenon has now broken through to the world of personal finance.
Free Credit Card Applications
It seems that hardly a minute goes by, where there aren't some kinds of advertisement boasting about all of the great advantages of free credit card applications. Either there is no fee for processing the application or, there is no interest on the credit card once you receive it. Banks learned that quite early on, a great advertising technique is to state that something is free. People come in droves when they think that they are getting something for nothing. In this article we will look at the truth behind some of these schemes and look at just how free these all are.
Credit Card Application Rejection
If you have never had severe credit problems, such as charge-offs or collections, then you may expect to get approved anytime you complete a credit card application. However, the truth is that your credit card application can be rejected for many reasons, even some that seem trivial. Everything you do is under the microscope when you apply for credit, not just severe credit problems. Below are some of the most frequent credit card application rejections, that have nothing to do with bad credit.
Using an Online Credit Card Application Vs. Applying In-Store
The first thing to take into consideration, before filling out an online credit card application, is whether you are applying for a bank credit card (Visa/MasterCard/American Express/Discover) or a store credit card (one that only can be used in a particular store).
Why Applying For Credit Cards Can Keep You From Getting Credit
Applying for a credit card is a seemingly minor thing that can haunt individuals for up to 24 months, (25 months when dealing with the credit reporting agency Experian). Why? Because each time a credit card application is completed and submitted, at least one inquiry is added to a person's credit report by the bank issuing the credit card. Inquires are requests for a personal credit report, which is also recorded on individual credit reports. There are two types of inquiries: 'hard' inquiries and 'soft' inquires.
Credit Card Application Denials: How They Can Happen to You
Many people falsely believe that the only people who are denied after a credit card application, are those who do not pay their bills. This is a falsehood maintained by those who have never had the unfortunate displeasure of dealing with a credit card application rejection. What they don't know is that it can happen to them. One day they may walk into a store, be offered an extension of credit by the cashier, and leave red-faced and embarrassed when that credit card application is denied. What can cause this to happen? There are many factors that go into determining who is or is not a credit risk during the review of a credit card application -- and these factors include more than just severely delinquent accounts. Anyone, good credit or not, can have their credit card application denied for any of the following reasons. 
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