Sunday, November 29, 2009

Instant approval credit cards

by Tiffany Mann

Posted by Michael Rivezzo

Qualifying for an instant approval credit card is much more difficult today than it has ever been. We can all remember getting offers in the mail for 0% APR for an introductory period on credit cards. It was almost a given if we applied for these cards we would receive the card in the mail a few weeks later. That is no longer the case today.

There many bad credit borrowers out there who are being denied credit cards. If your credit score has declined over the last few months you may find that credit cards are very lenient when deciding to give you access to lines of credit. They realize that missing payments from borrowers is causing them to lose money over the long run.

If you have missed a credit card payment
or any type of loan payment over the last year you are likely going to find your credit score has greatly dropped. If your credit score has dropped you are also going to find that the interest rate on your credit cards increase drastically. If you apply for a new credit card you are also going to find that the interest rate is much higher than you would have ever imagined.

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