Instant approval and instant credit is paying off for Internet pioneer NextCard. The San Francisco-based VISA card issuer reported yesterday that revenues for the third quarter were $8.0 million, a 120% increase over revenues of $3.6 million for the second quarter, and over thirty times the revenues of $255,000 for the same period in 1998. Third quarter revenues were also significantly higher than the average analyst expectations. NextCard, which offers a pure Internet-based bank credit card, now has total managed loans of $268 million and approximately 134,000 accounts. Last year the firm has $35.3 million in receivables and 85,000 accounts. During the third quarter NextCard launched its instant credit capability. Using proprietary fraud scoring and risk models developed over the past two years, the company is now able to provide many customers with the instant ability to make purchases by providing them with an active account number at the time the customer is approved. Driving traffic to NextCard’s web site is more than 20,000 affiliates, a 67% increase from the second quarter. For more information on NextCard’s financial’s visit CardData ([www.carddata.com]).