An easy credit card application is the one that takes around fifteen minutes and from which you receive a response within one minute.
Fortunately, that would cover the vast majority of credit card applications when made online. Credit card providers who do not allow such an easy process are in danger of losing customers, especially in such a competitive marketplace.
You can make for an easy credit card application by being realistic. Applying for a Platinum card when you are studying or working with a low income will find you out, and any application you make is logged on your credit history. Only apply for the level of card you can reasonably expect to be approved for. Different criteria will apply depending on the type of card. Income is a key factor, along with Australian residence (although not in all cases); you must also be over eighteen, and your credit rating must be good. If unsure you may want to order a credit report.
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Rates last updated July 30th, 2014.
You can make an easy credit card application online. Most forms only take around fifteen minutes to complete, but you must have all the required information with you at the start. Speaking of security, you should also make sure the site has a padlock symbol bottom right to show it is secure, and it should be https in the address bar rather than plain http.
This is the information you will need to ensure an easy credit card application process:
- Personal and contact details – Full name, date of birth, home and email addresses, home and mobile telephone numbers. The same for any additional cardholder you wish to include.
- Australian driver’s licence number, if you have one.
- Income details – Your income should usually be at least $15,000 p.a. for a regular credit card; gold and platinum cards require a higher income, starting at $50,000 for gold and $65,000 or $75,000 for platinum.
- Details of expenditure, debts and assets – Such as monthly expenses, mortgage, loans still payable, property owned.
- Employer’s details – Name, address and contact number, and the same for your accountant if self-employed.
Once you have submitted your application form, you will normally receive a response within a minute. This may be a rejection, or an approval in principle along with a reference number
Although this next part of the process involves more than sitting in front of your computer, therefore may not seem so easy, credit cards cannot simply then be sent out to customers. For your application to be fully approved, you must appear in person at a branch of the issuing bank with documents to verify your identity, which is mandated by the Australian government. You may also have been asked to bring along documentary evidence to support certain information you provided on your application form.
After this, your credit card will normally arrive within five working days, and your PIN under separate cover.