Instant Loan ApprovalCredit Cards and LoansInstant loan approval...most people are not very patient. We want everything "right now". Fast food, express lanes, Jiffy Lube. No matter what it is, we want it now and don't want to wait. When it comes to a loan, you will often have that opportunity presented to you - but you should stop and consider what it is going to cost you to have this particular bit of instant gratification. You see, the whole point of a lender offering something like "instant loan approval" is to either real you in with a catchy phrase and then pull a bait and switch on you, or else give you your loan quickly - but make you pay through the nose for it. If we're talking about getting your food faster, or paying extra for overnight shipping for the latest electronic gadget then the small price we pay may be worth it. When shopping for something as important as a loan, however, you might want to re-consider. Take just a moment to compare the rates you can get from a "normal" lender and one who is offering "instant loan approval". You should not be surprised to find out that the "fast" lender is going to charge you either higher up front fees, a higher interest rate, or perhaps even both. The other thing to consider is that a so-called instant loan approval is sometimes just an "instant loan qualification" in disguise. What does that mean? Well, it means that the only instant part is taking what you tell them and running it through a calculator to see if the numbers work. After that you have to wait the normal time for them to verify what you have told them and offer you a real approval (i.e. commitment to lend). We recommend that you take your time and avoid offers for instant loan approval. Instead, look at several lenders and find the one with the best deal. While you're waiting you can get some fast food and order a gadget with overnight shipping.
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