There is so much anticipation when you fill out a credit card application. From the moment you start filling in all the way when you click the Submit button, you will probably have three big questions going through your mind: Do I want to be approved? What will my credit limit be like? How soon will I find out if I’m admitted?
The amount of time it takes to get the answers to these questions mainly depends on how you submit your credit card application.
You may find Out You’re Right Approved Out
If you apply for a credit card online, over the phone or in person (eg at a retail store) and you have given all the correct information, you can usually find out whether your credit card application is approved in 60 seconds or less.
If you use your credit card application online, make sure to use a secure web connection (still no public Wi-Fi) to prevent your data from being stolen.
Once you have submitted the application, do not press the back button or submit button more than once. Otherwise it could process problems with your application.
Once your approval is confirmed, you will also find out the credit limit you have approved. Then in 7-10 working days, you will receive your credit card in the mail. Activate your credit card and you are ready to start shopping.
With some types of credit card accounts, you can use your credit card immediately. For example, if you are approved for a retail credit card, you will usually be able to use the account in the store and each sister stores the same day you are approved.
Why a credit decision could be delayed
Sometimes the lack of an instant credit decision means your application will be denied, but that’s not always the case. The credit card company will not be able to provide an immediate approval decision if your application needs further review or you have provided incorrect or incomplete information. Wait a few days (7-10 days normally) and you will receive an email, letter or phone call from the credit card company to request additional information or to explain the fate of your application.
Mailed applications may take longer to process. If you mail your credit card application, you cannot find out if you are approved for two to three weeks. You have to wait for the card issuer to receive and process your application and then send you an answer.
If it has been several days since you made your credit card application and you have heard nothing about your approval, call the credit card issuer to request the status of your application. You can find the card issuer number on their website.
Increase your chances of being Approved
You’re more likely to be approved if you are qualified to apply for a credit card. For example, if you don’t have a lot of credit or you have bad credit, you probably won’t be approved for a rewarded credit card. Some credit card issuer websites say which credit cards are for excellent, average, or bad credit. Stick to the credit cards that most match your credit profile for the best chance of being approved.