You cannot get approved for a credit card unless you have filled out a credit card application. If you have filled out an application form then you can ask the question “how long does it take to get approved for a credit card”.
The process of applying for a credit card is quick and easy, but waiting to get approved for your card can take a little time.
At times, some credit card gets approved instantly, but it is not always the case, as one may encounter issues that will slow up the process.
When you submit your application, it has to be reviewed by the credit card company and it has to be processed manually.
This will slow down the process of getting your card approved. So your card can get to you in a few days or it can take up to weeks, it depends on the company’s review policies.
But if you have not heard from the credit card company; you can contact the company’s customer service to check what is happening with your application.
How Long Will It Take Your Credit Card to Get Approved
Most people who apply for a credit card tend to ask the question “how long does it take to get approved for a credit card”. Here, you will find out how long it will take to get your credit card approved.
Your credit card can get approved a minute or so after your application. Likewise, it can also be delayed. There is no static time for your credit card to get approved.
Your credit card getting approved is dependent on some factors. Getting your credit card approved on time depends on your application process. Also, your credit history, and your lender’s eligibility criteria.
For instance, applying for a credit card online takes a little time to get your application completed. But when you apply for a card through the phone or the bank’s branch, the process is likely to take longer.
If you want your credit card to get approved on time, you should provide the following information;
- Your proof of ID
- Address history
- The details of your annual income
- And your employment status
- A copy of your PAN card
The information above will help speed up your card approval.
Why Credit Cards Are Not Approved Instantly
Credit cards are not instantly approved and it is for a reason. So when your card is delayed. You do not have to panic, because there is a reason for that. Credit cards are not approved instantly because of fraud protection on your credit record.
Getting past a fraud or security alert can cause your credit card to be delayed. This is because your lender has to verify your identity first.
Your issuer has to call to confirm your credit information and also to check if you applied for the card before proceeding with the application. Also, your card might not be approved instantly by your issuer if you are applying for a rarely large credit limit.
If the information in your application is different from the information in your credit record. Your card approval process will be delayed. And if you already have a large credit line with the bank, your card will not get approved on time.
How Do You Get a Card When It Has Been Approved
After your card has been approved, your physical card will have to be mailed to you. This process is likely to take a maximum of about two weeks.
When you receive your card, you can then use it to make purchases and pay bills. But if you think your credit card is taking longer to reach you. You should reach out to the credit card company in case it has been lost or stolen.
Credit Card Approval Process
There are processes to getting approved for a credit card.
- First, you have to apply for your credit card.
- Then your card issuer will check out the information you submitted in your application.
- Your issuer will look at your credit report, your credit score, and your credit history.
- Also, your issuer will check your income information and the debt obligations you listed in your application.
- How you have handled credit in the past will also be considered.
These are the processes that will be considered before your card will be approved.
How to Speed Up Your Credit Card Approval Process
It is no news that the credit card approval process can take a longer time. But if you need to speed up your credit approval process, here is what you should do.
- You have to apply for a credit card that you are qualified for.
- If you do not have much credit or you have bad credit, you should not apply for premium rewards credit card.
- Some issuer websites advise you on which credit cards to choose for a bad, good, average, or excellent credit card.
- Choose the credit card that fits your credit score.
Engaging these tips above will enable you to speed up your card approval process when you apply for a credit card.