Instant credit card approval for bad credit applicants sounds exciting, but there really isn’t much to get excited about. Sure, a new credit card poses an opportunity to increase the card holder’s credit score, but that’s assuming it is used responsibly. Quite frequently, that isn’t the case. To be sure, just because you qualify for a credit card doesn’t mean you should have one. Consider the fact that more than 1 in 10 people carry around 10 or more credit cards at all times. Who needs 10 credit cards?

Indeed, instant credit card approval for bad credit applicants can be a recipe for disaster. Sometimes, companies will only approve you if you allow them to take the minimum monthly payment directly out of your checking or savings account. On the one hand it’s good because it ensures that your payments are made on time. On the other, if you don’t have the money in the bank it can cause you to overdraw your account. Tread carefully!