Step By Step Guide To The Credit Card Application Process

Featured Speedy Approval Credit Card

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• $49 annual fee
• 2.99% for 6 months p.a. on purchases
• 2.99% p.a. for 6 months on balance transfers
• Cash Advance Rate of 19.79%
• Apply online and get a response within 60 seconds

Click here to read the Aussie MasterCard terms and conditions

Learn how simple it is to make a credit card application. Follow these easy steps to be fully prepared and gain the confidence that your application will be approved.

The credit card application process is a straightforward affair taking 10 to 15 minutes provided you have the required information to hand before you start. Whenever you click on the “Apply Now” page of any credit card website you will clearly see a warning that any period of fifteen to twenty minutes where your application is left inactive will cause your application to be scrubbed and any information already input to be lost. This is a security feature to make sure you don’t wander off and forget about your credit card application, leaving other people to view sensitive information you have left on-screen.

So, here’s how to get your online credit card application right:

Step One – Confirm your eligibility

Make certain that you are able to apply for the credit card you have chosen. Normally on the page prior to the application form itself you will always be asked to fulfil four requirements:

• You must be at least 18 years old
• You must be a permanent Australian resident
• You must be earning a specified annual income
• You must have a good credit history

There may be additions to this, such as your eligibility as a non-permanent resident, but you will need to be earning a lot more in this case. Where permanent residents may need to be earning $15,000 a year, non-permanent residents may need to prove $50,000.

Step Two – Gather your information

The information required to complete the credit card application form will be listed on the same page as the eligibility criteria. Different credit cards require different information, but you you will generally be asked to have most or all of the following details available:

• Your personal details, including address and contact details
• Details of your driver’s licence, if you have one
• Previous address if less than a certain time at your current address
• Details of your employer, as listed in the White Pages
• Your accountant’s details, if self-employed
• Details of your income, assets and liabilities

Step Three – Fill in the gaps then review

Enter the relevant information into the correct places on the credit card application without making mistakes. Once completed, review to make sure you are happy.

Step Four – Read the Terms & Conditions then submit

Reading the Terms & Conditions is essential if you don’t want any surprises later on. You will be required to confirm you have read and understood them. Don’t just tick the box – read them.

A final word about online credit card applications … make sure the site is the genuine credit card website and that it is secured. You can verify this by looking for the locked blue padlock symbol bottom-right of your screen and for “https” at the start of the site’s web address, not just “http”.

• Comparison of Top 10 Credit Card Offers

Editor's Choice: Our Top Credit Cards

Credit Card	Card Details	Interest Rate (p.a.)	Cash Advance Rate (p.a.)	Balance Transfer Rate (p.a.)	Annual fee	Interest free days (up to)
HSBC Credit Card	Editor's Choice: 0% for 6 months Balance Transfer & No Annual Fee Featuring a $0 annual fee for life, and 0% p.a. balance transfer for 6 months, the HSBC Credit Card was voted the Best Transactor Credit Card for 2010.	16.99%	20.75%	0% for 6 months	$0	55
Suncorp Clear Options Standard Visa Card	A great 12 month balance transfer offer, combined with a low annual fee and a good interest rate on purchases.	12.24%	17.99%	1.9% for 12 months	$39	0