Whether you're thinking of shopping for yourself or family or need a short-term emergency family loan, there are five popular companies that will give you instant credit cards or lines of credit that you can use online right away when approved.
Online instant credit card approval websites used to be very popular prior to the financial meltdown in the United States in 2009. Many banks and stores stopped advertising instant credit during this time because there was a pull-back in how much credit banks decided to extend to the public, simply to protect themselves.
But now some of these immediate credit offers are back because the economy has improved. And you can benefit from these offers as well.
In addition to these instant credit offers, one of my favorite stores gives 5% off every purchase, free shipping, and an extra 30 days to return merchandise -- whether you're approved for their debit or credit card.
The following credit cards might be a little easier to obtain because the interest rates are generally higher in the long-term. Credit cards with more stringent requirements, such as those from a credit union you belong to, will usually have a much lower interest rate.
Do not assume if you have a lower credit score that you won't gain instant credit. You won't know until you apply!
Walmart offers two instant credit cards on its website: a Walmart MasterCard and a Walmart store card. If your credit score is under 680, you are more likely to be approved for the store card. But it is worth applying anyway.
If you need short-term help in buying groceries or household goods to make ends meet, the store card makes sense because you can buy the necessities online or in-store. Application results are delivered instantly online, and you will be given a code you can use to purchase items right away on Walmart.com.
Walmart also offers promotional no-interest financing on large purchases with their store credit card.
A Lowe's card is an excellent piece of credit to have handy because anyone who owns a home knows that you can run into an unexpected tool or repair expense. With the Lowe's card my husband has been able to purchase pipes, a pole saw for taking down tree limbs, and exterior paint to save our wood deck from rotting from rain and sun exposure.
Of course you can also use the Lowe's card for DIY projects, gardening supplies, or whatever suits your fancy in home maintenance.
If you are approved for a credit line at Lowes.com, you will be given shopping access instantly.
You are likely to have had purchased an item from Amazon. Amazon's instant credit process is extremely easy and you can shop from millions of items immediately after approval. You can use this credit line for anything from pantry items to tools to clothing to purchasing useful consumer electronics such as computers, smartphones, and televisions. Amazon also offers promotional no-interest financing for purchases $149 and up. This credit card has proved popular for both holiday and year-round shopping.
Overstock.com extends instant credit so you can shop for thousands of home goods from their online site. It is the equivalent of an online department store, and is a popular online destination for Christmas shopping. You can even buy furniture to fill your house with Overstock's great supply of merchandise. In addition, as a newer feature, you can purchase gourmet foods at the website.
PayPal can be one of your best friends when it comes to credit. You can get an immediate credit line to use online at hundreds of popular stores, but the best feature is that you can send friends or family cash from PayPal credit. So if you need an emergency short-term loan to make up for a mortgage payment shortage, you can send money to your spouse from PayPal credit and then transfer the PayPal deposit to the bank to be used.
These companies often require minimal information for giving instant credit. Applying online for these loans is becoming easier again as the economy improves. Get your slice of the pie so you can start buying the things you need and love. Many people use instant credit to get themselves through a rough patch, treat themselves, furnish their home, buy gifts, or get useful electronics.