When you apply for a credit card online, you'll typically get a response within 60 seconds of submitting it. With instant credit card approval the card provider processes your application digitally.
But this near-instant credit card approval only happens if you:
Once approved, you'll have to wait 5 to 10 business days for the physical card to arrive in the mail. If the card comes with a digital version you can set up the card in a smartphone app and use it instantly.
No. Credit card companies have a responsibility under the National Consumer Credit Protection Act 2009 to provide credit responsibly. This means making sure customers don't take out credit cards or loans that are too big for them to handle.
Card companies check your credit report and examine your income, debts and your spending.
In the best case scenario you'd find the right credit card, spend about 10 minutes filling out an application and then get approved within 60 seconds. You usually get notified by text.
If you're not approved, or the credit card provider needs more details (sometimes known as "conditional approval"), they may ask for additional documentation such as payslips and bank statements. From there, it could take about 2-5 business days to receive the final outcome.
Low rate credit cards or credit cards with no annual fee are usually the easiest to get approved for. These cards have fewer perks and benefits and lower fees.
They're best suited to customers who have never had a credit card before, don't need a huge credit limit (the amount you can spend on the card) or have lower incomes.
It's harder to get approved for a fancy card that lets you earn frequent flyer or reward points.
Getting an easy, fast credit card approval comes down to your position as an applicant and the type of card you apply for.
If your application falls through, try to figure out why you got rejected before applying again.
Get insights on how many people are part of supermarket and airline programs, how they redeem points and more.
Find out whether your spouse or children are eligible for cover under your credit card complimentary insurance policy.
Learn how to apply for a credit card and increase your chances of approval with these 8 tips.
Get a percentage of your spend back, gift cards or vouchers with a cashback credit card. Find out more and compare current offers in our guide.
While there isn't one best credit card, you can find a card that suits your needs by comparing the features, deals and offers that are trending here.
Just got a new job? Learn about the eligibility criteria you'll need to meet to apply for a credit card.
8 reasons why your credit card application might be refused and what you can do to increase your chances of approval.
Want to factor the credit card provider into your comparison? Here are some details to help you get started.
Compare credit cards that offer complimentary purchase protection insurance and cover your purchases against loss, damage and theft.
Calculate how much you're paying in interest based on your current credit card repayments and discover how much you should pay each month to meet your financial goal.