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INSTANT decision credit cards offer a decision in minutes when you apply online for the credit card online.
Getting an instant decision on your application offers added convenience and speed when applying for a credit card online.
Best credit cards offering instant decisions
You can compare all instant decision credit cards here.
What is an instant decision?
An instant decision is offered by a number of credit card companies when you apply online via their website for their credit card.
Once you've filled out your information online, when you submit the form your credit card application is process immediately and in most cases you will automatically receive a decision letting you know if you've been accepted for the credit card.
If you are looking to compare instant decision credit cards it's important to remember to look at the other benefits you need, such as the abilility to rebuild a poor credit score, a 0% balance transfer facility or cash back rewards.
The instant decision will be displayed straight away on your screen.
How do online applications work?
When you apply online for a credit card, your information is securely sent to the issuing bank or building society.
With instant decision credit cards, the issuing bank or building society will instantly process your application to determine whether or not they will accept your application.
How can they give me a decision straight away?
The issuing bank or building society will often use a company like Experian or Equifax - who allow them to check your credit score immediately to help determine whether you can open an account or not.
Once this credit check has been run, the issuing bank or building society will often be able to give you a decision on your application in seconds.
How long will it take to get the credit card if I'm accepted?
Credit card companies will usually use a credit reference agency such as Experian, Equifax or TransUnion. These credit reference agencies will compile credit reports that reflect your personal finance history, such as your current borrowing and your repayments on this borrowing.
Software is then used to automatically analyse your financial circumstances and provide an almost instantaneous decision.
Often, credit card companies will use a form of online signing when you apply online. This means you no longer need to wait for the agreement to be sent out to you in the post to sign by hand.
Instead, online signing allows credit card companies to process applications straight away. Put simply, you agree to the credit card terms and conditions when you apply online - so if you're accepted the credit card company can send your new card out to you straight away, eliminating the need to first post out agreement forms.
Online signing helps to cut down the amount of time between applying for an instant decision and receiving your credit card. The time it takes will vary, however a good rule of thumb is to allow around 10 working days to get your credit card once you've been accepted.
Is it safe to apply online?
Online application forms are run from secure servers on a bank or building society's website.
The information you enter into the form is also securely encrypted, which means that when the data is sent it is scrambled and can only be read - or unscrambled - by the bank or building society you've applied for a credit card with.
Secure encryption is a very safe method of transferring data, and most, if not all banks and building societies use 128bit encryption - which is the highest level of encryption security.
What do I need to have my credit card application accepted?
To be approved for an instant decision credit card it is important that you are resident in the UK, are over 18 (some providers require you to be over 21, or 25 in the case of some platinum cards), have a good credit rating (if you have a bad credit rating please compare bad credit rating credit cards), that your credit card will be for personal use, already have a current bank account and that you have a regular salary.
Before you decide to compare instant decision credit cards and apply online for an instant decision credit card make sure you have the following information to hand (to make getting that decision even quicker!):
- Personal information: your title, name and contact details.
- Home address: accommodation status, length of time at that address and the post code.
- Previous address: information will be needed if you have lived at your present address for less than 3 years.
- Employment details: work status, job title, employer details and contact information.
- Finances: your salary information and current bank account details.
If you are approved online for a credit card you will then be sent a written credit card agreement which you must sign and send back to the relevant credit card company before your new credit card will be sent out.
Poor Credit History Applicants
An instant decision credit card is not necessarily for people with a poor credit history, and just because the decision is instant, you will still need to meet the qualification requirements and pass a credit check.
If you have a poor credit history it would be better to protect your credit score and apply for a bad credit rating credit card instead, like the Capital One classic credit card, which also offers an instant decision.
Compare Credit Cards First!
Even though an instant decision on a credit card application is nice, it is still important to compare credit cards by looking at the different features they offer, such as: 0% balance transfer rates, 0% purchase rates, low interest rates or cash back deals before applying for a card. Or you can compare instant decision credit cards available here.
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