Instant approval credit cards are sanctioned and authenticated for people who have a good credit score or credit rating. The word 'credit', means credit ratings or credit scores. Before we try to understand the terms such as credit score, credit rating, or fair credit, let us have a look at the meaning of the term 'credit'. Meaning of the Word 'Credit' The credit rating, score, and history are represented by credit rating agencies. Before sanctioning any kind of loan or credit card, the lender always obtains a credit report from a credit rating agency. The credit report contains an individual's credit history, that presents the loans and number of credit cards used in the past. Also included are the number and details of loans and credit cards that are currently in use. Furthermore, the credit report also contains the number of late installments, defaults, and late payment. Some credit reports also contain the number of valuable assets of the person and number of assets that have already been pledged as collateral. The sum total of all these items is a numerical figure that is known as the credit score. Indirectly, this report states a person's capability to pay the bill of a credit card. A credit score between 500 to 620 is considered to be a poor credit score, and there is almost no chance of getting a loan or a credit card sanctioned. An average and fair credit score is between 620 to 760. Here, there is a very good chance of getting a credit card or loan approved. The best credit score is between 760 to 849. Instant Approval Credit Cards A fair credit rating would prove to be very advantageous when it comes to making credit card applications. Even though you have a considerably good credit rating and score, the credit card company is bound to review the following before giving instant approval.

• The credit card company reviews your employment status and your income projection. If you are self-employed, then the company takes into consideration the business that you are running, and the income projection of your business.
• In addition to these factors, the company also reviews your assets and liabilities.
• In cases where the credit limit is very high, the company also reviews some other aspects as the number of people who are directly dependent on your income and your spouse's credit rating.

All these reviews that are made are strictly legal and ethical and this information is not disclosed by the credit card company to any other person or organization. One must also note that the government always governs these reviews and ratings with the help of strict laws, and the person who is being reviewed, is empowered to sue the credit rating company or the credit card company, in case of any false information, or even misrepresentation. The credit card company may also set forth some conditions for instant approval based upon your credit rating, credit score, and other financial aspects. For example, even if you have a fairly good credit score and rating backed by a good credit history, and you happen to be self-employed, the company is bound to demand a collateral, making the credit card a secured credit card. On the other hand, if you are employed and have a steady flow of income, then the credit card would not be secured. If you are planning to apply for such credit cards, then it is advisable that you try to improve your credit rating and score even more. Also, make an attempt to get rid of all possible liabilities and debts. The better your credit score and ratings, the better and faster approval you would receive. After you receive the credit card, it is recommended to make timely payments of the bill and use the credit card wisely, in order to maintain a fair credit score. In fact, your credit score can also be improved very easily, if you repay the bills on time, as every timely payment adds to your credit score.