When you apply for a traditional credit card, you might need to wait for the bank to approve your application and then issue your card to you. If you opt for an instant credit card, you won’t need to wait. You’ll be able to buy everything you want the same day and maybe also benefit from some other perks, such as cashback or a rewards program. In this article on Naijaknowhow, you’ll get to know how to apply for an instant credit card and its benefits.
How to Get an Instant Credit Card
There are different channels on which your bank can offer you a credit card, including ATMs, websites, or mobile apps. Depending on the institution, you can get a plastic card or virtual card, or both. Some cards are supposed to be used only for online or offline purchases. Others can work both online and offline. If you order a virtual card, you can start using it as soon as it is issued. If you want to get a plastic one, you’ll need to wait for a few days for it to be delivered to you. To get an instant credit card, you need to meet certain requirements, also depending on the credit provider. Here are a few real-life examples of what you might have to do to be able to receive such a card:
Verify your identity by answering the security question or talking to the bank representatives on the phone when they call you Apply for the card through the bank’s mobile app Order a card that is co-branded with some other brands (such as an airline’s card) Let the bank send the number of your instant card directly to the partner brand so that you won’t see that number yourself Get a card that is connected to the rewards program of a certain retailer and use it for shopping in this retailer’s network the same day Receive a card that is connected to a particular payment system, such as ApplePay
Benefits of Instant Credit Cards
People order instant credit cards for a number of reasons, some of which include:
You can immediately afford a large purchase that you can’t cover in cash Some cards might feature special financing offers, cashback, discounts for specific brands or stores Score more points or other privileges in terms of the rewards program when you use your card
Most likely, you’ll be allowed to benefit from the rewards program as soon as you get the digital card. You won’t need to wait until the plastic one lands in your mailbox.
How To Add a Credit Card to a Digital Wallet
Once you’ve received a card, you can add it to a digital wallet by following these steps:
Select a wallet: The card should be compatible with any popular app, such as PayPal, ApplePay or GooglePay. Your choice should depend on your device and personal preferences. Install the wallet: Most common apps are available for free. Nevertheless, you should read attentively the rules of the selected wallet to get to know about its fees and not so evident costs. Sign up for the wallet: Create an account indicating your name and other personal details that the app might request. Add the payment method to the wallet: Type in your card’s number and your billing address. The app should confirm that the wallet was successfully added.
You’ll be able to use your digital wallet in brick-and-mortar stores with point-of-sale (POS) terminals that accept contactless payments. Hold your smartphone to the terminal and wait for a beep. Your phone will display a pop-up notification asking you to verify the transaction with a PIN or a biometric login. Once you’ve done it, you’ve finalized the purchase.
A Real-Life Example of an Instant Credit Card That You Can Order in Nigeria
If you would like to get up to NGN 1,000,000 in interest-free credit quickly and easily, you can consider the Fibo card. You can receive it for free and you won’t need to submit an endless number of documents. To get a personal invitation for the card, you can drop your contact details at joinfibo.com. You’ll get an invitation via email or SMS and will get your card soon.
You can use the Fibo card to:
Purchase goods and services Pay your bills Send funds to your friends and family members Top up your airtime and data with personal funds or a credit line
For the first 45 days, you won’t need to pay any interest to take care of your needs or emergencies. Sending money with the Fibo app is as seamless and fun as it gets. All you need to do is to shake your phone to transfer funds as long as the recipient has the Fibo app too. You won’t even need to type in the recipient’s phone number or account details. This person only needs to stand next to you and also shake their phone. That’s probably the easiest and most exciting way of carrying out P2P financial transactions. Whenever you need help or to make enquiries, you can reach the professional Fibo Support team at any time via your favourite messaging channels including, WhatsApp, Instagram, Telegram and Facebook Messenger.
Final Thoughts
Hopefully, you found this article informative and now you better understand the essence and benefits of instant credit cards. You can receive such a card the same day when you apply for it and start using it immediately although the policies of issuing this type of card might vary considerably from one financial institution to another. But generally, you’ll be able to afford a large purchase without waiting. Plus, you might also enjoy extra perks, such as discounts, cash back or other financial incentives.
