However, if you have even fair credit, filling out prepaid credit card applications
might be selling yourself short. Even if you’re enticed by the fact that pre-paid
cards allow for instant approval online, understand that with online applications,
some other credit cards will provide you with approval very quickly. The
advantage to pre-paid cards is for those with bad credit who need to have a little
financial flexibility. Unfortunately, they do nothing to help build up a good credit
rating. With fair or even poor credit, you should most likely set your sights a
bit higher and look to apply for a card with an actual credit line, which will help
to rebuild your credit rating. While you may not be able to apply for the best credit
cards online, there are several good options even at the lower credit levels.
Secured Credit Cards to Rebuild Your Credit
A good, middle-ground option for those who don’t have the FICO credit rating to
get credit card approval, but don’t see the value in a pre-paid card, is to apply
for a secured credit card. These typically require a down payment (something on
the order of a few hundred dollars) to show that you have financial flexibility.
Once the down payment is satisfied, however, the card will act as a normal credit
card, and allow you to begin rebuilding your credit score. We have several different
secured credit options available on the site, including those from Capital One.
More than any other card issuer, Capital One has products across the credit rating
credit card applications for fair credit and cards for poor credit. They
have a number of affordable products designed to help rebuild your credit score.
At the time of this writing they even have a card which allows you a line of credit
up to $3000 with the potential to increase your credit line over time without additional
What are Instant Credit Card Applications?
The only Instant Approval Credit Card Applications are for prepaid cards
and debit cards. These are also sometimes referred to as Instant Online Credit Card
Applications. The approval is instant because you are not actually establishing
a line of credit or borrowing. You are in effect, paying in advance.
Do not confuse these terms with Online
Credit Card Applications with the term instant credit card application.
While applying for a true ‘credit card’ online is faster than applying on paper,
there is still an approval process and a certain amount of time spent reviewing
Know you will qualify before you apply
To apply for the best credit card online to meet your requirements, we recommend
using our credit card search engine before settling on a specific card, especially
if your credit score is fair or lower. Every time you apply for a credit card and
your credit history is checked, your credit score takes a small hit, so it is very
important at the lower credit ratings to be fairly certain of approval before applying.
By doing your research effectively, and analyzing your own spending patterns, you
can pick out the
best credit card online that you’ll actually qualify for.