When looking for instant approval credit ones options are generally either to apply for a credit card or a payday loan. The same day or payday loan was traditionally the route to instant approval credit but the interest charged is generally very high due to a more relaxed application criteria.
Due to the growth of online credit card applications, some lenders have taken the opportunity to use the technology available to offer an almost instant approval credit option, by way of providing a response to a credit card application within minutes and in some cases just one minute of the application being submitted.
Of course as is the case in any kind of credit application, approval will depend on the lenders criteria being met and instant credit via online credit card applications is no different. Having a good credit rating is practically essential when expecting instant approval credit from a reputable lender.
Credit cards may be available for applicants with poor or no credit history but these will attract much higher interest rates and fees due to the lenders taking on a higher risk of not being repaid.
