The Internet has really helped to speed things along, including things as ubiquitous as credit card applications. In earlier days, you used to get credit card offers in your mailbox and, after filling out the credit card application form, you’d send it right back by post. These days you can apply for a card online today and have the card in your hands within days.

Be certain you are opting for 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.

The credit card offers 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.

When you have made a selection, simply click the link to the card issuer’s online credit card application processing facility. 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). 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.

Assuming you are employed then have the company name, business address and HR contact details for your employer. If you run your own business then you’ll need to provide your accountant’s contact details.

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.

As there are a few details required it’s a good idea to get everythign together before you start the application online. 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.

Many issuers will provide an initial response on screen or via email with an initial approval decision and an application number to help track the application. Verification of the information you provided may take several days.

Article by Richard of creditcardapr.com.au which compares cards including credit card rewards

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