How long does it take to get a credit card? That’s a question that a lot of people are asking lately. The answer, unfortunately, isn8217;t one size fits all. It depends on the credit card issuer, your credit score and history, and a few other factors.
In this blog post, we’ll give you an overview of how long it typically takes to get a new credit card – from applying to using it for the first time.
Let’s get started!
How long does it take to get a credit card approved?
Most people believe that applying for a credit card online takes only 60 seconds. However, you may have to wait a few days, or even weeks, to receive an email from the card issuer telling you whether you are approved or not.
In some cases, card issuers may need more information from applicants before making a decision; this can delay the approval process. As per Per federal guidelines, credit issuers must notify you of your approval or denial within 30 days at the latest.
Most speedy approvals occur when the credit application is fully completed and the applicant’s credit score and income qualify without question.
When, however, an applicant’s credit score is on the borderline or income verification is required, the credit issuer may take a few days to review the application before approving it.
Therefore, it is important to be prepared with all the necessary information before beginning the application process.
By understanding how long it might take to get a credit card approved, you can save yourself time and frustration in the long run.
How do credit approval procedures work?
Applying for a credit card can feel like a daunting task, but understanding how credit approval works can help to ease the process. When you apply, the issuer will consider several factors, including your updated credit report, credit history and score, income information, and other debt obligations.
Payment history is also an important factor in determining whether to approve an application. While there is no guarantee of approval, applicants with good credit scores are more likely to be approved.
By familiarizing yourself with the credit approval process, you can increase your chances of being approved for the credit card you want.
What Credit Card Companies Consider Before Accepting Applications
Applying for a credit card can feel like a game of chance. Will you be approved or denied? While there’s no surefire way to guarantee you’ll get the green light, there are certain factors credit card companies consider before making a decision.
Here are a few things credit card issuers look at before approving an application:
- Your credit score
- Your credit history
- Income information
- Other debt obligations
While there’s no guarantee you’ll be approved, understanding what factors are considered can help increase your chances.
When will I receive my credit card in the mail?
Applying for and being approved for a credit card is just the first step in the process. Once you’re approved, your physical credit card has to be mailed to you.
This can take a few days or even a couple of weeks, depending on the card issuer. Once you receive your credit card in the mail, you can start using it to make purchases or pay bills.
It’s important to keep in mind that mailing times can vary greatly from one card issuer to another. The following table shows how long you should expect to wait for your credit card from a variety of major lenders.
|Credit Card Mailing (New and Replacement)|
|Card Issuer||New Card||Replacement Card|
|American Express||7 to 10 business working days||Within 3 business working days|
|Bank of America||Within 10 business working days||Within 3 business working days|
|Barclays||7 to 10 business working days||7 to 10 business working days|
|Capital One||7 to 10 business working days||3 to 6 business working days|
|Chase||7 to 10 business working days||3 to 5 business working days|
|Citi Bank||7 to 10 business working days||5 to 7 business working days|
|Discover||5 to 7 business working days||5 to 7 business working days|
|U.S. Bank||7 to 10 business working days||7 to 10 business working days|
|Wells Fargo||7 to 10 business working days||7 to 10 business working days|
Keep in mind that if you’re waiting for a new card rather than a replacement one, the timetable will vary.
What Should You Do If Your Credit Card Hasn’t Arrived Yet?
If you’re waiting for a new credit card to arrive and it’s taking longer than expected, there are a few things you can do.
If your credit card is from a major bank, you can go to a branch and request for a temporary card first. Some banks will provide temp cards that are valid until the real card arrives. There may or may not be an associated cost for this service.
Second, you may be able to get a temporary credit card number from the issuer. You can begin making purchases or paying bills using the card even if you don’t yet have the physical card. Just keep in mind that not all issuers do this and those that do may charge a fee.
Lastly, if you need to use your credit card right away but don’t have it, you could ask a family member or friend if they would be willing to add you as an authorized user on their account.
This way, you’ll have access to their credit limit and can start using the card right away.
Of course, make sure you trust the person you’re adding as an authorized user and that they’re comfortable with the arrangement before proceeding.
How to Get Your Credit Card in a Hurry
If you’re in a hurry to get your new credit card, there are a few things you can do.
#1. Apply for a Pre-approved Credit Card.
Have you ever been scrolling through your mailbox, only to be bombarded by credit card offers? In most cases, these offers are preapproved, which means the issuer has already determined that you fit their criteria.
Pre-approval is based on factors such as your credit history, credit utilization, and debt-to-income ratio.
If you’re looking to apply for a credit card, preapproval is a great place to start. Not only does it give you an idea of which cards you’re likely to be approved for, but it also helps you compare different offers.
And if you’re worried about your credit score, don’t be – issuers only perform a soft inquiry during prequalification, which doesn’t affect your score. Keep in mind that preapproval doesn’t guarantee final approval; it just means you’re more likely to be approved when you submit a formal application.
The issuer will review other factors not considered during prequalification, such as income, and will perform a hard inquiry on your credit report. But if you have good credit and are looking for a new credit card, preapproval is a great first step.
#2. Choose a Credit Card That Provides Instant Access
There are many benefits to using a credit card that provides instant access. For one, you can use the card immediately upon approval, without having to wait for the physical card to arrive in the mail. This is especially convenient if you need to make a purchase right away and don’t have the cash on hand.
Additionally, many store credit cards can be applied for in-store and, if approved, used to pay on the spot. This is a great way to take advantage of sales or special offers that require credit card payment.
Finally, other cards, like the Apple Card, can be added to a digital wallet such as Google Pay or Apple Wallet and used at any merchant that accepts mobile payments.
This is a great option for those who prefer not to carry around cash or physical credit cards. So if you’re looking for a credit card that provides instant access, there are plenty of great options to choose from.
Read More: Best Instant Approval Credit card for Bad Credit
How to Get a Credit Card Approved
It might be tough to get accepted for a credit card, especially if your credit is poor.. However, there are several things you can do to improve your chances of getting approved.
First, check your credit score. If you have excellent credit, you will have many choices of cards with good terms and high limits.
However, if your credit is fair or poor, then your choices will be limited. There are several ways to check your credit score, including through Experian, for free.
Another option is to look for credit cards that are tailored to those with bad credit. These cards may have lower limits and higher interest rates, but they can help you rebuild your credit history.
Finally, remember that it is more likely that you will be approved for a credit card if you are already preapproved.
You can improve your chances of being accepted for a credit card by following these guidelines.
Getting a credit card can be a quick and easy process, as long as you know what you’re doing. If you’re in a hurry, make sure to apply for a pre-approved credit card or choose one that provides instant access.
And if you have bad credit, remember to check your credit score and seek out cards specifically designed for people with bad credit. By following these tips, you can make the process of getting a credit card much easier.
Do you have any other tips for getting a credit card? Share them in the comments below! And if you’re looking for more information on credit cards, check out our guide to the best instant approval credit cards.