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The Online Credit Card Application Process

Mar 9, 2008
So, you have decided to join the millions of consumers all over the world and apply for a credit card. With credit cards becoming a major factor in our way of life, a lot of people are looking to get credit cards as a way to increase their spending power; however, not everyone knows where to start or how to go about the credit card application process. If you are one of these people, then you should try applying for a credit card online.

With the internet, anything and everything can be accessible through your computer from the comfort of your own home. You can make purchases, pay your bills, buy airline tickets, and yes - apply for credit cards online.

Here is the typical flow of the online credit card application process:

* Start off by deciding which credit card company you want to avail the credit card from. If you feel overwhelmed with the wide variety of credit card choices, try checking out websites that provide assistance and comparisons on credit cards.

* Pick a type of card that suits you - be it a gold card, a basic credit card, an airline credit card or whatnot - find one that best fits your needs.

* Once you have decided on which credit card company and on what type of card you want, go to the credit card company's website. Look for the Apply Online link, banner, or image. These Apply Online links are usually placed prominently on the website and are generally very easy to spot.

* Upon clicking the link, you will usually be redirected to an online form. Fill out the form, giving all of the required information and submit.

* If the card company requires that you submit financial documents to aid in assessing your credit rating, do so. Scan copies of the required documents and fax them to the number provided or send them to the email address given by the credit card company.

* You can then sit back and wait for feedback.

You will most likely hear from a representative of the credit card company within a few days. These calls are usually done to verify the information you have given them. You may also be asked to clarify some of the data you have provided and may also be required to present additional documents.

Most credit cards, when applied for online, have speedy processing times. There are even some credit cards that are approved instantly when applied for online. There are times, however, when you will get turned down. Credit card approvals or rejections are usually done via mail. If you have received a rejection letter, go over the letter carefully and determine why your application was denied. If the reason for denial isn't clearly stated, feel free to call the company to clarify.

Denials may be caused by a faulty report from a credit bureau - if this is the reason for the denial of your application, then you may still contact the bureau and the credit card company and ask for reconsideration. If however, it is determined that a poor credit rating has caused the denial, then an improvement in your spending habits will definitely help when you next apply for a credit card. It is recommended that you wait for at least six months before applying for another credit card as a denial will be reflected on credit reports.
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