Instant decision credit cards are a modern trend and prove quite helpful and handy in busy time's where no one has any time to spare. Added to the time factor is the benefit of saving the tedious process and long procedures of a conventional application.
Instant decision credit cards basically allow the consumer or credit card applicant to feed in all the relevant personal data online on their websites, and instantly give back the results within minutes.
There is no waiting or processing time lag. These credit card companies usually have a tie up with credit score evaluation companies like Experian or Equifax. These credit score valuation companies collect the online data and process it within a fraction of a second and the results are displayed on the monitor.
Once the online approval is confirmed, the credit card company then sends a written hard copy of the credit card agreement with its various terms and conditions printed on it, to the applicant's residential postal address. The applicant is then supposed to fill it up with relevant details and put his or her signature to confirm acceptance of the terms and conditions.
Despite the ease and convenience of the online instant decision credit cards, consumers in general are very wary of the online process. Security issues and fear of highly confidential personal and financial data being stolen or misused online are the different reasons why people doubt the services.
But all fears are put to rest, because the websites of instant decision credit card companies are highly secure. All the data which is feeded in to the website is encrypted, meaning that it can be unscrambled only by the bank or the building in which the office of the credit card company is located. The encryption used is 128 bits which proves to be the most secure system because it is the highest security which has been technologically discovered yet.
The requisites for online instant credit card approval are that the applicant should be above 18 years of age; possess a valid and functional bank account and will need to disclose all the personal information, salary, and postal address which includes all the previous addresses too, employment address, financial and other relevant details.
On a closing note, it would be important to mention that, this instant decision credit card works only for those with a good credit history. For others with a poor credit, there are other options.