Fast Money Loans

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, mail the forms back and the issuer mails the card back to you. Today, you can simply fill out a credit card application online and then receive the coveted plastic a few days later.

Be certain you are selecting the most suitable for your needs before you apply and compare credit card offers first to select the best credit card for your needs. Compare the individual features of the cards and look for those which answer the purposes for which you want a credit card.

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.

You will need to provide essential personal information: your name in full, the name you want embossed on the credit card, birth date, driver’s licence number (if you have one), your sources of income (whether from employment, self-employment, retiree’s pensions, etc.), contact address details (residence, postcode, and e-mail), contact numbers (home, mobile, and office). The e-mail address is extremely important as the bank will use this as the primary channel of communications for all matters regarding the credit card application.

Assuming you are employed then have the company name, business address and HR contact details for 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.

You will also need to show information on your annual income from different sources. Note that there is a minimum annual income required in the credit card application — $15,000 for the basic standard cards, $50,000 (usually) for gold cards, and $65,000 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 click4credit.com.au which compares Visa debit and credit cards

Technorati Tags: credit card application, credit card offers, credit cards