Instant Credit Card Approvals - How to Avoid FeesPosted by Nick Niesen on October 29th, 2010 Instant credit card approvals slicks are sweeping the Internet. Nearly anyone with outstanding credit can apply for these cards and receive a response in minutes, or sometimes-even seconds. The annual fees, interest rates, balance transfer fees, and other fees all vary on the credit cards, therefore contrasting and comparing is wise while seeking credit lines. Annual fees - Many card issuers or banks often waive the annual fees, yet the card issuers will add the fees in a clause, therefore check the Terms & Conditions, fine lines, and other information before accepting the cards. Interest Rates - The interest rates are often available upfront. Credit cards issued from banks offer revolving lines of credit, which 2% of the interest is levied, while the outstanding balance is repaid monthly. The actual rates of interest paid yearly can be right around 24%. This is an important issue to understand: if you roll over payments on credit cards, you may pay interest rates of up to 25% and more on a yearly basis. The Annual Percentage Rates (APR), is the interest rates, which are often fixed or variable. The interest fixed rates and variable rates differ, therefore understanding your plan is essential for getting the lowest rates. Other Fees - Many credit cards charge fees on cash advances, balance transfers, etc. Therefore, read clauses, stipulations, Terms & Conditions, fine lines, and all other information before accepting a credit card. Three Types of Credit Cards Overall Conducting research is wise, yet it is nothing if you do not compare and contrast the instant approval credit cards. Many sites are available with information relating to instant credit card approvals. The secure sites will put you in touch with card issuers who specialize in helping you find the best credit cards online. Like it? Share it!More by this author |