Bad Credit Instant Approval Credit Cards? Really??

Is there such a thing as instant bad credit card approval? No. Offers made by companies that tout instant credit card approval for people with bad credit should be checked out carefully to determine the legitimacy of their offers. It may be possible to receive approval for a credit card for a person with bad credit but obtaining instant approval is not likely going to happen.

Difficulty in Providing Credit

Banks and other credit card issuers are making credit card terms more difficult in the wake of a near collapse of the banking and financial system in 2008. This historical context is important to understand and is relative to any discussion regarding credit cards. People with bad credit find it more difficult to apply and be accepted for loans and credit cards as banks and credit card issuers change their requirements for qualifying credit scores.

Problem with Instant Approval Credit for Bad Credit Risks

Instant approval is generally reserved for individuals with near perfect credit histories and who are more likely to pay their bills on time. Individuals with bad credit are deemed credit risks and may need to find a co-signer or other guarantor for the credit card. This means that an instant approval card is highly unlikely unless the terms of the credit card offer were so restrictive that they would make little sense to the applicant and result in a higher interest rate and fees in comparison to other card offers that may be more suitable.


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