The new kind of credit card which is springing up more and more these days is the instant decision credit card. There are a lot of leaflets and junk mail about these credit cards offers around at the moment. You can apply for such credit card over the phone, but most of the people apply credit card online because you will get an immediate response about whether you have been accepted or not based on the information you give them.

You should be honest while filling out one of these credit card applications. There is no point in saying that you earn three times more than what you do. For example, usually there are a few pages of information for you to fill online, your personal details, your employment details and other lending etc.

Then once you have completed filling it, you are given a chance to see if all of it is correct. Then once you submit, you would get an automated response on the next screen informing if your credit card application has been accepted or not, or you will receive an email about it a few minutes later.

Even if it says your application has to be considered further, they may only want proof of ID or something in the post from you and then you may still get approved.

There are a few things to remember: Don’t be tempted to apply for lots of credit cards in one afternoon. Each time you make an application the software does an automatic search of your credit history which is recorded.

If you do too many of these searches, someone somewhere assumes that you are being denied credit and your credit rating starts to go down. Do your research properly. Pull out a list of a few cards and then pick one or two which you can apply for.

Another thing to remember is that, these cards are way more risky for the credit lenders and so the interest rates of these could be double than their regular cards in some cases.

If you don’t need to have an instant credit card and have the time to wait, and then go for a regular credit card. If you get to pay half the interest, then the card is worth it.