What Benefits Can I Get From A Guaranteed Approval Credit Card?
Guaranteed approval credit cards are becoming popular these days
. Most consumers are interested to know if it is really advantageous to own a credit card like this.
Are you one of these many people who want to know more about guaranteed approval credit cards? If you are then we encourage you to read the remainder of this short article. Enumerated below are three of the benefits you can get from a card with guaranteed approval.
What are the Benefits of Credit Cards with Guaranteed Approval?
1. Immediate Card Approval. As their names imply, credit cards with instant approval provide consumers an assurance that they can immediately receive the decision of card issuers regarding their credit card application. How is this possible? Well, many online card companies today employ advanced computer systems. Through this technology they can easily evaluate their card applicants and release their decisions in a matter of 60 seconds to two minutes.
And that's not all. Issuers of credit cards with instant approval also provide consumers a guarantee that the cards they need will be delivered directly to their homes in just four to seven days. Doing this will enable consumers to instantly activate and use their cards for purchases and when paying their monthly bills.
2. Low Interest Balance Transfers. Another excellent feature of instant approval cards, usually offered to consumers with good credit standing, is low interest balance transfer. If you possess excellent credit scores, you can actually transfer your existing card balances to your low interest instant approval credit card. This way, you can reduce the payments you make on interest, especially when you manage several credit card accounts that have widely-varying rates of interest. And the savings you can generate from transferring your existing card balances to your new card can eventually be allocated to more important purchases and credit payments.
3. Stops Multiple Card Applications. Most credit card applicants are made to wait two to three weeks before they receive the decision of banks or card companies And this long wait makes some consumers feel very uneasy. Many consumers make the mistake of submitting multiple credit card applications to other issuers since they are not sure if they will get approved for a new credit card. However, they are not aware that this decision can inflict severe damage on their credit standing and that it could limit their financial prospects.
The scenario above never existed in guaranteed approval credit card programs. This is because card applicants can immediately receive the decision of card issuers whether or not they will receive the credit cards they have applied for. As was mentioned above, many card companies employ highly advanced computer systems that allow them to assess applicants and release their decisions in just one to two minutes. What's great about this feature is that it stops credit consumers from submitting multiple card applications which eventually can lower their credit scores.
We are hoping that through this article, you will be able to easily decide whether a guaranteed approval credit card is the right one for you.
Copyright (c) 2010 Liz Roberts
by: Liz Roberts
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