Credit Tips: Instant Approval on a Credit Card

Posted On: January 1, 2006

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Posted: Mon Aug 16, 2004 6:11 pm
Post subject: Instant Approval on a Credit Card

Chocolate
Date: 6/14/2001 5:30 pm CDT

Hopefully someone on this board or the Board Monitor can help me. How does a person get instant approval when applying for a credit card either online or at a major department store(where application is processed at the register). Usually the application is very brief, not nearly as long as one that has to be mailed in or phoned in. How can a system approve or not approved a person so quickly without checking into any pertinent background such as a credit report check or employment. Does anyone know how the system work. Inquiring minds want to know!!

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Posted: Mon Aug 16, 2004 6:12 pm
Post subject: Instant Approval on a Credit Card

NoneYa
Date: 6/14/2001 5:37 pm CDT

They do not check deep into your credit files, they have software in place that pull specific scores such as “Issac Score” and similar scores.

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Posted: Mon Aug 16, 2004 6:12 pm
Post subject: Instant Approval on a Credit Card

Joyce
Date: 6/14/2001 7:56 pm CDT

What would be a person’s credit type if they just got out of bankruptcy chapter 13?

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Posted: Mon Aug 16, 2004 6:12 pm
Post subject: Instant Approval on a Credit Card

Board Monitor-CS
Date: 6/15/2001 1:54 am CDT

Joyce,

Maybe a 430-500 FICO score.. that’s pretty low (FICO ranges from about 300 to 900 - the higher number being better). Secured credit cards would most likely be the only option if you’re needing credit.

Take Care,
C. L. Smith
http://www.cardrevolt.com