An instant online credit card will certainly make applying for your new card very simplistic – but it’s also very important to make sure that you don’t mix speed and simplicity with common sense and deliberation. Whilst you’ll notice a great deal of exceptional card offers at one’s disposal, with rates which are extremely competitive, it can often be dangerous to complete an online form and be approved for your card without allocating any time checking out the many contrasting offers available.

Credit card advertisements very often rely on the instant online credit card to attract potential customers quickly and easily. With financial institutions feeling the credit crunch effect at this moment in time, it is important for them to try to seduce as many potential clients as is possible. By providing an instant approval, they are usually gambling on the general public’s instinct in taking up an interesting offer as soon as it becomes available. This demonstrates what the World Wide Web is about to a greater extent – instantaneous gratification, immediate response, realtime processing and verification. We need responses, confirmation and results and we want it now. However, is now always the best way to move forward, notably where your personal finances are concerned?

You should definitely research the instant online credit card offers but keep in mind, the Internet offers you the chance to shop around and study. If you’re planning on applying for a card account then you need to ensure you study and research many of the card issuing companies. Make a note of the rates they are offering, and not just the opening interest rates either, but the ones that will kick in once the account has been in place for a while.

Don’t be coaxed into an instant online credit card relying solely on introductory rates or initial concessions, simply take the longterm view. Look closely at the overall charges over time. Always be rational – you must be capable of paying off the total balance each month. Don’t tell yourself you can cope if the truth is rather unlikely, because this will generally allow you to discard the applied rates as being largely conjectural. When you have made comparisons of a number of interesting card offers and checked their details, the longterm applied rates and the benefits to you as a consumer, then you will have a more valuable idea of exactly who represents the best deal.

Now that you are holding this useful information you will be able to take full advantage of the instant online credit card application process, by filling in your personal details online and then receiving the result almost immediately. This is automated by computer, with this system authenticating your credit history details against the info on file, which helps to red flag any areas of concern. If your credit report is good, then you may be a perfect applicant for this type of card and will doubtless be authorized by instant approval, and be told about your success almost immediately. In the majority of cases you’ll get a letter in the normal post, or receive an email and the card will arrive a little while later.

Although a large number of card issuers that provide this instant online credit card facility aim to give immediate online approval, there may be a small percentage of occasions where there are memos on the credit register which may need an associate to look closer. Don’t be dispirited and deduce that this suggests that you will be rejected. Once someone has a closer look at your information and reviews your credit report personally, you will probably find that you are either offered the card of your choice, or an alternative card at a little higher interest rate, reflecting any negative issues which the card provider may have noticed on your credit file.

Suspecting that anything aside from immediate approval suggests that your application has been declined often causes some individuals to go off and fill in an application with another card company. This is a big mistake because by making multiple applications within a short time, your credit file will record all searches and applications, and this will impact negatively against you. By completing duplicate applications in quick succession one after another, you may find that your are declined entirely for your instant online credit card.

Using your credit card online may be the epitome of convenience. Using a credit card online combines commerce and technology.

When the Internet started growing in popularity, barriers between knowledge and communication were broken. The Internet also brought around the existence of shops – e-shops or virtual shops – that only existed on the Internet. You could go to these shops by using an online credit card. Once the payment was approved, the products were delivered to you. This was convenience at its best.

Using your credit card online may be the epitome of convenience. Using a credit card online combines commerce and technology.

When the Internet started growing in popularity, barriers between knowledge and communication were broken. The Internet also brought around the existence of shops – e-shops or virtual shops – that only existed on the Internet. You could go to these shops by using an online credit card. Once the payment was approved, the products were delivered to you. This was convenience at its best.

Online credit card use is becoming more and more popular as more virtual shops appear every day online. The possibility of taking credit card payments online has given a new meaning to shopping. You can now shop not only from the comfort of your home and pajamas, but you also can get discounts. There is no longer any need to worry about the weather, traffic jams, or any other thing that would deter you from shopping. Now, you just have to go to a virtual shop, select the item you want, and use their online credit card payment provider to pay. Before you know it, your order comes to your door.

Accepting online credit card payments through a processing facility also means that it’s become easier for someone to start a business online. Anyone can do this, but they don’t necessarily have to have credentials or even be a legitimate business. You should be cautious about using businesses online that are unfamiliar to you or your friends.

Taking online payments does have its challenges, however. One of the downfalls of using credit cards online is the possibility of credit card fraud. This fraud can happen in two different ways. The first involves the company on whose website you are making the payment. The company could be fraudulent by taking the payment but not delivering the products. The company also could use the details that you provide about your credit card for fraudulent activities.

Another type of fraud happens when criminals use different types of software and devices to steal the details of credit card payments as you put them in the website’s payment form. This software typically is known as spyware and the criminals installing it are spies. Spyware works by capturing your typing and taking pictures of whatever you do online. The spyware then passes the information on to the criminal. There are different programs that you can use to counteract the spyware and protect your computer and your information.

Although using credit cards online can be more convenient for everyone, it doesn’t come without faults and challenges. You must use caution when you are making credit card payments online. You shouldn’t access your bank accounts or make online payments from any unsecured network, for example. You also should be wary of making such payments while shopping in Internet cafes.

The Fair Credit Reporting Act of 2004 has made it necessary for all credit bureaus to provide free credit reports to the public once a year. By September 1, 2005, all Americans were entitled to obtain their credit reports once a year free of charge. The credit reports can be from the three major American credit bureaus — Equifax, Experian and Trans Union.

The official website to go to for free credit reports is http://www.annualcreditreport.com. This site provides instant online credit report after you file an online application giving your name, address, and date of birth and social security number. Further clarification and modifications in the credit report are provided by the Federal Trade Commission website that which hosts http://www.ftc.gov/credit.

It should be noted that the above is the only official government website providing free online credit reports. Other websites purport themselves to be official by coining similar names similar to the above and claim to give free online credit reports. Most of these websites do provide credit reports but without a credit score. You also have to pay a fee. However, there are some genuine websites that do provide free credit reports once a year as per the FCRA rules.

A free online credit report contains four major sections – a person’s identification, public records, credit history and information about inquiries from creditors. The credit report would carry the FICO score, which may range from 200 to 850. A credit report of 500+ is considered good; while above 720 is considered excellent. It is this scores that creditors base their opinion on whether to give a loan or not. Credit reports also contain information of any financial upheavals like missed payments, etc.

The availability of free online credit reports has made them all the more accessible to the general public. This favors the government, as people become more aware of their credit problems and try to repair them. This helps build building up national economy. Businesses use these reports to constantly monitor their progress, while the general public uses them to acquire loans, insurances, etc.