How Long Does It Take To Get a Credit Card? (Advice & Tips)
Just as money doesn't grow on trees, credit cards don’t magically appear out of thin air, either. To clinch a credit card yourself, you’ll need to undergo an online, phone, or in-person process with a credit card provider to determine whether you’re eligible to get the card you have in mind.
For newcomers to the credit card world, and those who currently have a not-so-great credit score, it can be a slightly daunting procedure, especially as one of the outcomes is flat-out rejection. That’s why, to help give you the best possible chance of getting the credit card you want, we’ve written this Grow Credit blog post.
By reading through, you’ll learn about the prep work to do beforehand, how long it will take to get a credit card once you’ve applied for one, why hard inquiries happen and how they impact your credit score, and advice on improving your credit score so you can bump up to a “fair” or even “good” (or better!) score so you can attain your dream credit card.
Just read through these sections to get in the know:
Recommended steps to take before applying for a credit card
How to apply for a credit card
How long does it take to get a credit card?
How credit card applications impact your credit score
Why you should improve your credit score before applying for a credit card
Use Grow Credit’s Mastercard to secure your dream credit card
Let’s get started.
Recommended steps to take before applying for a credit card
You stand a better fighting chance if you prepare ahead of time and do a little research about the smartest way to do things—but that’s why you’re here rather than answering questions on a credit card application form, right?
Right.
So, here are four recommended—and simple—steps to take before you apply for a credit card.
1. Gather important information and documents
The first step is actually fairly straightforward: hunt around your home for key documents that verify your identity, your residential address, your income, and so on. This is because you’re normally questioned about—and often asked to provide evidence of—the following:
Your full, legal name
Your email address
Your home and/or mobile phone number
Your residential address
Your residential status (i.e. Are you a student living in student accommodation? Do you rent from a landlord? Do you live with your parents?)
Your income
Your Social Security number
These are basic (and a non-exhaustive list of) questions that are part-and-parcel of many application processes, as they help the companies that are providing you with a service to verify who you are, where you are, and what you do.
By gathering info like this (and verifiable documents), it’ll mean you don’t have to frantically scramble around the house mid-application.
2. Review your credit report
When you apply for a credit card, the provider will most likely check your credit report. This is so they can get a fuller idea of how you’ve handled credit in the past, and if there’s any risk involved when lending you credit. They usually look for things such as bankruptcies and any delinquent accounts on your record.
With this in mind, it’s helpful to know what providers will be looking at when checking out your credit report. (Also note that if there’s an out-and-out mistake on your credit report, like a missed payment that you know was in fact paid on time, it’s possible to dispute it and get it removed off your record, thereby making your credit report look better to providers.)
You can view your credit report for free with annualcreditreport.com.
3. Know your credit score
It’s no secret that providers prefer those with higher credit scores. With a credit score that’s defined as “good,” “very good” and “excellent,” you’ll have access to credit cards with better annual fees, APR, foreign transaction fees, and more. If you haven’t had the time or the opportunities to get your credit score to the level of “good,” “very good,” or “excellent,” yet, then your options could be more limited due to the higher perceived risk.
Understand and know your current credit score before applying. (Your credit report won’t show you your credit score, so you’ll have to use a free credit scoring site, or buy access from one of the three major credit bureaus or another provider, like FICO. If you’re already with a bank, credit card, or loan company, you may be able to see your credit score on a statement, or if they offer a program to their customers where you can check your credit score for free.)
4. Research the different types of credit cards
In 2021, there are a ton of different credit cards out there, and for people of all types of credit scores and financial standing.
With a solid idea of your credit score and what’s on your credit report, research the different types of credit cards, and gauge what you think you could be approved for. Write a list (or create a bookmark folder in your browser) to help you remember your options when you come to the application stage. But do remember that if you’re a beginner or your credit score is “poor” or similar, you won’t qualify for the best credit cards out there just yet.
How to apply for a credit card
With all the prep work out of the way, it’s time for the main event: applying for a credit card! The prep work will probably take longer than the application itself—if you’ve got the documents and info you need, expect an online application for a credit card to take less than half an hour. It could be as short as a couple of minutes.
All you’ll need to do to apply online is:
Navigate to the provider’s application form for the particular credit card you have in mind.
Fill out the application form, referring back to the documents and info you’ve gathered when required.
Wait for a response from the provider once you’ve submitted your credit card application.
When applying online (which can sometimes be quicker than in-person and over the phone), it’s really as simple as that. But there are a few additional things to keep in mind post-submission, regarding wait time and outcome.
When it comes to waiting time and outcome, there’s the chance you could be approved instantly for the credit card if you meet all of the provider’s necessary criteria. This is because some providers automatically approve people who meet their requirements. On the other hand, some providers check applications manually, which means an approval could take a few business days to one or two weeks, depending on the provider.
Similarly, being rejected for a credit card could be near-instantaneous, or could take some weeks. Essentially, it’s all variational, and depends on the provider and their application process.
How long does it take to get a credit card?
Having a provider approve your credit card application and you physically receiving your credit card are, in fact, two different things. So, if you do get credit card approval, expect an additional wait for your card to arrive in the mail.
But how long will that take, exactly?
Well, there are several factors that come into play. For instance, if the card is sent via express or expedited delivery, then it could take just a few business days—something like one to three. However, it could take longer if it’s posted without faster delivery. Which day the card was posted could also impact when you receive it, too—and so might where you live. With all this in mind, generally expect your credit card to arrive between two and 14 business days in total.
Again, wait time is ultimately dependent on the provider and how they do things. Try looking around on their website (like on their FAQ page) to see if they’ve stipulated any information regarding credit card delivery time, as they might give a rough time frame.
How credit card applications impact your credit score
As mentioned earlier in this post, when you apply for credit, the provider will most likely check your credit report. This is called a “hard inquiry.” A hard inquiry can unfortunately result in a slight drop in your credit score, but just one inquiry won’t have that much of an impact overall. However, if many inquiries happen within a short space of time, it’ll have a much more negative effect on your credit score. (The inquiries will also be noted on your credit report.)
The good news, at least, is that the impact of an inquiry fades with time. And while the inquiry must be noted on your credit report for two years, FICO scores factor out the inquiry after 12 months.
This is all to say that it isn’t the best idea for your credit score and credit report to apply for a bunch of different credit cards in quick succession.
Why you should improve your credit score before applying for a credit card
Building a higher, more robust credit score—i.e. one that’s certainly above “poor,” and ideally better than “fair”—quite literally affords you the ability to shop around for credit cards that’ll better serve you. From sign-up bonuses to longer 0% interest periods to larger credit limits, the credit cards you can get your hands on with “good,” “very good,” or “excellent” credit scores are significantly more beneficial for you as a consumer.
Ask yourself this question: do you really need the credit card you have in mind right now? Or would it be better to improve your credit score first, and then get a bigger, better credit card a little further down the line?
If you’d like to improve your credit score first—because your credit score isn’t where you want it to be, for whatever reason, including having a limited credit history—there are many ways you can bump it up. We’ve written about some of these methods previously, so be sure to check out the following articles:
What Credit Score Do You Start With? (Plus 5 Tips to Build a Healthy Credit Score!)
750 Credit Score: A Fantastic Score That Opens up Fantastic Opportunities—but How Attainable Is It?
To boot, there are many score-boosting programs, tools, and initiatives you can easily enroll in—like Grow Credit! Grow Credit is a credit-building tool in the form of a Mastercard that lets you handle your subscriptions to boost your credit profile. By using Grow Credit, you can attain your dream credit card later on—the one you ideally want, as opposed to one that’ll just do for now.
Interested in learning more?
Here’s how Grow Credit works in action...
Use Grow Credit’s Mastercard to secure your dream credit card
Grow Credit enables U.S. residents to easily build and maintain their credit scores over time. After applying for our free and virtual Grow Credit Mastercard (which isn’t a credit card, but is set up via a line of credit instead), you can use the card to pay subscriptions for Netflix, Amazon Prime, Disney+, and more. As long as you pay back the money that’s advanced from your Grow Credit Mastercard in good time, your credit score will increase!
Applying for a free Grow Credit Mastercard is quick and easy via our iOS app, Android app, and website. All you need to get started is to have the following (and in your own name):
A bank account (that’s been open for at least 60 days)
A valid email address
A working phone number
A social security number
A physical U.S. address and resident status
A minimum income of $1,200 per month (for at least two months)
An account balance of at least $100
And to be age 18+
Ready to boost your credit score and secure the credit card of your dreams afterward?