Applying for credit cards is simple. But getting instant approval of your online application is not.  Credit card applications are reviewed and approved by the banks only after they check and confirm that the applicant meets the eligibility criteria for the same. So, if you too are looking for instant approval of your credit card application, you need to ensure that you meet all the eligibility norms.

How to Apply for Instant Credit Cards?

An instant credit card refers to a card that gets approved by the issuer instantly or quickly. Applications for instant credit cards can be made online, a convenient and safe mode. Instant approvals are possible when the applicant is eligible and has all the necessary documents to prove the same, ready.  Such cards are highly useful in emergencies or when you need to plan for some urgent expenses.

Tips to Ensure Quick Approval

Instant approval of your credit card application may be desired to handle some emergency expenses. But what happens if your application is rejected? A lot of time gets wasted and you have to run around to arrange for the needed finances or explore other funding options. 

Such situations can be avoided by following certain tips:

• Checking Your Eligibility and Keeping All the Proof Documents Ready– The banks will approve your application only when they are sure about your eligibility and creditworthiness. This is done by checking the documents providing proof of your income and identity. 

To ensure that no time is wasted on the submission of these documents, you should keep them ready with you or submit them along with your application.

• Maintain a Good Credit Score– Your credit score plays an important role in your chances of getting an instant credit card. A score of 700 and above is considered good by the banks. Lenders need to be sure about the creditworthiness of the borrowers and if your credit score is very good, the chances of getting an instant approval credit card are high.

• Approach a Bank Which Has Your Details– Another way to get an instant credit card is to apply to a bank where you already have an account or a fixed deposit. Since the bank already has your details and other necessary documents, your credit card application gets approved quickly.

• Keep Your Credit Utilisation Ratio– Another tip to enhance the chances of getting an instant credit card online is to keep your credit utilisation ratio low. This is possible by ensuring that you use debt only when essential and not for every transaction that you do. 

Do not use your available credit limit fully and try to keep it below 30%. You can also make payments for your credit card purchases two to three times a month rather than waiting for the billing cycle to end. This will ensure that the balance of your card remains low throughout the month and you do not have to pay credit card charges like penalties or fines.

You can ensure instant approval of your credit card applications but will still have to wait for the actual card to arrive before you can start using it.