Getting a credit card opens up new avenues for a person, which makes it only natural for them to be excited when such an opportunity comes up. As it is with most people, you find out your credit score, find out that you’re good for a credit card and rush to apply online, which guarantees express delivery of your credit card. We all want good things to come quick (preferably within the same day), but in the case of credit cards, this is unfortunately very rare to happen; there’s only a few companies worldwide that offer same-day card shipping and that too can be done only if your credit score is perfect. So, for the rest of the people with good credit rating who want a credit card, how long does it take to get approved for a credit card?

What’s important here is to understand how credit card companies look at an application from a business point of view; all companies prefer perfect credit rating for the applicant, but since there’s not too many of them to go around, credit card companies and banks have figured out that the real money lies in the middle zone. The middle zone being the people with neither perfect nor an abysmal credit rating. This makes up the majority of their clientele and earns the company or bank its bread and butter. So, to ask for this majority in the middle, how long does it take to get approved for a credit card?

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As a general rule of thumb, you can expect at least a week before you can know whether you are approved or not for the credit card. After that, another day or two for the card to ship to your mailing address. However, there’s extremes on both sides of the spectrum; there are online portals and websites (of banks and credit card companies) which can inform you in under a minute whether your credit rating is good enough for credit card approval and some banks which can take up to four weeks to just inform you whether you were approved or disapproved for the credit card. So, it all boils down to the bank you’re dealing with and your own credit score. More on that down below,

How Long Does It Take To Get Approved for a Credit Card?

As explained beforehand, expect anywhere between three or four weeks for the card to be approved and delivered to your address, considering that a vast majority of banks and credit card companies use this timeline. For the extremities on either ends, you can also get approval and the card within a day or it could exceed a month. Here’s all of this, explained.

  • To Get Approved Right Away

As the majority of such dealings and businesses have moved online, this has also sped up the time by which it can be ascertained if the applicant is a credit risk (liability) or is a safe applicant. There are many websites that can calculate your credit score in an instant, giving you an idea whether or not to apply for a credit card. The use of such websites isn’t recommended since most of them are unprotected and could misappropriate your valuable data to hackers and malicious personnel online. Instead, you could simply go to the credit card company’s or bank’s website and apply online for a credit card. They are safe enough and once you put in your details, they can process and inform you of your credit rating in under a minute, and you can apply for a credit card right there and then. That’s one of the advantages of the financial sector going online; you don’t have to wait a week or two just know whether your application was accepted or not. Whatever the news, it gets delivered to you immediately. 

  • Waiting Two, Three Weeks for Approval

However, if you were to go to the bank physically (which in the post-Covid-19 world is a bit of a hassle), this would take some time, a week or two to be exact. That’s not because then they would physically gauge your score, the method stays the same. Its just that with all the other processing and regular bank business going around, this would take some more time, which would bump the total time to more than two weeks. However, the advantage for going in-person to a bank for this would be that if approved (or if your credit rating is good), the credit manager would approve your credit card right then and there, which would just leave the wait for the actual delivery of the card. With online, you will always have to wait for the credit manager’s approval, which could take time and add to the wait. When you’re already in front of the guy, what else could you need from him and him from you?

Now that we’ve established the time period that you can expect while waiting for the card to be approved and delivered, we can talk about how you can keep your score up and how you can choose your credit card company or bank that could minimize the waiting time for approval and delivery of the card. As with this passage, it again boils down to your credit score and the bank or credit card company you select.

Keeping your Credit Score Up

It is imperative that your credit score stays up; it going down can result in you not being able to secure a loan from a bank, not being able to get a credit card or any other type of secured or unsecured loan from any finance agency in the state; that’s because banks do credit checks and background checks to ensure that the applicant is not a risk, not a liability. The single step to keeping your credit score up is to manage your finances in a way that whatever you spend, you pay back regularly. The trick is not to be measly but to be prudent when it comes to repayment.

Also Read: A Review on Credit Card Checker Live or Dead Tools

Selecting a Credit Card Company / Bank

Select one with the laxest possible requirements and credit score requirement, preferably backed by a much larger and stable financial institution that has a good lending policy. Also, as an extra, be sure to stay in the good books of credit managers and loan officers; they can give you tips and heads up to certain situations which only they are aware of and could save you a bunch of money on repayments or interest.