Credit Cards: Applying Online
The Internet has really helped to speed things along, including things as ubiquitous as applying for a credit card. The traditional way to receive credit cards has been in the mail where you fill in forms, post the application back and the issuer posts the card back to you. These days you can apply for a card online today and have the card in your hands within days.
Before you complete a credit card application, it is advisable to browse through various comparison websites, which provide succinct summaries of credit card offers. Think about what you want from the credit card and check the features of each card against your wishlist.
Credit card deals normally include rewards cards, low-rate cards, cash-back cards, and standard cards, along with the more exclusive gold and platinum cards. Among other differences, the interest rates and fees will vary significantly depending on the card type you want.
Once you find the card you want just click the apply now button and you will get take to the card issuers secure application form. You should have no difficulty with the online form as it looks pretty much like the printed form that accompanies credit card offers.
The card issuer will need some basic information from you such as your full name, address, birth date, ID card or drivers licence number, and sources of income such as employment, business, investments and so on.), contact address details (residence, postcode, and e-mail), contact numbers (home, mobile, and office). Double check you enter your email address correctly as this may be used by the bank to communicate with you about the application and its status.
If you are employed, you will need to provide the name, address, and phone number of your employer. If self-employed, indicate your accountant’s business address and phone number.
There are also financial details to provide: property, deposits and other assets; loans (with the lender’s name and outstanding balance); other credit cards you may already have (specifying the card type, e.g. Visa, the card issuer, authorised credit limit, and amount outstanding). When you wish to transfer balances from existing credit cards to this new card, you should also provide the issuer’s name, your account number and the amount to be transferred.
Information about the amount of your yearly gross income (from each source) should also appear. Each credit card will have minimum income requirements which vary from as low as k for basic level credit cards up to around ,000 for Gold cards and higher for Platinum cards.
This is quite a lot of data so it will help to have all the details handy. On the average, you should be able to complete the online credit card application in 10 minutes or so. In case you cannot immediately complete filling out the application, the system allows you to save the partially filled-out form; you will have a month to complete the process.
Within a minute after submitting the application, the card company will send a response to your e-mail to advise the action they will take on it, along with an Application Reference Number for you to quote whenever you wish to inquire about the status of the application. Verification of the information you provided may take several days.
Article by Richard of creditcardapr.com.au which compares cards including the RBS Switch Platinum
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