Instant Credit Card Approval: Yes or No in 15 Seconds (cont.)
Contributed by Kris Olds
The social security number is the reference number that credit report scoring agencies use to keep track of a consumer's credit history. The phone numbers can be utilized to determine whether or not a consumer has a job and provides contact information for a consumer, should there be trouble with the line of credit. The income level provided by the consumer will help a credit granting agency to determine what a safe level of credit is for a consumer.
They may also utilize the information on the credit report to make that decision. For example, if a consumer has an abundant amount of credit available to them, a credit granting agency may decide that a consumer is too high of a risk for them to grant credit too. The reasoning being that a consumer could spend all of their available credit and find himself in a position to not be able to pay the debt to the new account.
Step three of instant credit card approval is waiting for the plastic
Instant credit card approval means that a lending agency has made a quick decision that a consumer is credit worthy and would be a good customer. After the immediate approval is granted, a consumer will usually receive an actual card in the mail in three to five weeks. And then it's time for the smart credit practices to come into play.
