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How do I know if my credit card application is approved

There are a handful of reasons why you might not have received an immediate approval from the credit card issuer. Even something as simple as a typo could send your credit card application to the “under review” pile. This additional review process generally takes anywhere from seven to 10 business days, although in some cases, it could take up to 30 days. In the event that your credit card application is denied, while it may be stressful, there are still a few steps you can take. Work to improve your credit score or reach out to the credit card issuer’s reconsideration line. According to Rossman, about one in five credit card applications are denied. Lastly, you might consider applying for a credit card that offers an instant approval decision, so you don’t have to worry about waiting for days or weeks to find out your application status.

Debt consolidation can be a useful way to save you money and simplify your payments. Cash back rewards are bonuses provided to customers when they use their cards to make purchases. Keep an eye on your email and physical mail for any updates from the card issuer. “They might have specific questions they want you to address, perhaps to clarify some of the information on your application,” Rossman said. If you don’t receive an approval or denial right away, your application may be listed as “pending” or “under review” on the issuer website or app. If you find yourself in that situation, here’s what may be going on behind the scenes.

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That is eight points higher than a year earlier, an improvement that the company attributed to accommodations by lenders to those affected by the COVID-19 pandemic. Pete Rathburn is a copy editor and fact-checker with expertise in economics and personal finance and over twenty years of experience in the classroom. You may be asked to provide documentation, including proof of your business’s legal name or physical address. Whether you want to pay less interest or earn more rewards, the right card’s out there. Depending on your application method and the information you provide, it can take anywhere from minutes to weeks to learn if you’re approved. Our experts have been helping you master your money for over four decades. We continually strive to provide consumers with the expert advice and tools needed to succeed throughout life’s financial journey.

As with any financial product, you should do your research and make sure the card is a good fit for you before applying. How long it takes Capital One to make a decision about your application typically depends on how you apply. You can apply for Apple Card again, but you might receive the same decision. Make sure your name, address and other information provided on your Apple Card application is correct. If you find inaccurate information, re-enter the information as needed. If you have a freeze on your credit report, you need to temporarily lift the freeze before you apply for Apple Card. Learn about the key criteria used to determine whether your Apple Card application is approved or declined.

Once you’ve submitted your online application, don’t press the back button or the submit button more than once. It’s also possible that Chase will request additional information to assist in the decision-making process. This could be anything from proof of income to correcting mistakes that may have been made on the initial application. Ultimately, the issuer needs to verify your income to ensure you’re capable of paying back what you borrow. Information about products not manufactured by Apple, or independent websites not controlled or tested by Apple, is provided without recommendation or endorsement.

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Most credit card applications are likely to get processed within a couple of minutes, whether you apply online or on the phone. So it can be frustrating and confusing to see a “pending” status on a credit card application because an issuer needs more time to process your information. Some credit card issuers have preset qualifications for who gets approved. If you meet these qualifications, such as a minimum credit score, then you are pre-approved, and you know you’ll be able to get the card. After applying for a credit card, waiting to receive approval so you can start earning rewards and taking advantage of card perks can be nerve-wracking. However, there are steps you can take in advance to help reduce the chance that your application will need further review. For example, you should avoid applying for several credit cards in a short period of time.

  • Goldman Sachs uses TransUnion and other credit bureaus to evaluate your Apple Card application.
  • When you receive your card, you’ll also get instructions for how to activate your account.
  • If you apply for a new Citi credit card and do not receive an immediate approval, know that you can easily check the status of your application online or over the phone.
  • You can do this for free through AnnualCreditReport.com; you can also check your Experian credit report for free anytime.
  • Play your cards right by getting prequalified, and applying for a new credit card may not dramatically affect your credit.

Most issuers have secure websites and phone lines you can use to check the status of a credit card application. Digital applications tend to yield decisions in the shortest amount of time. However, the main reason you might not receive an instant decision is simply because card issuers take the application review process seriously. The amount of detail you provide and its accuracy can all affect the timing of your decision. However, credit card issuers sometimes need additional time to review a credit card application and make a final decision. Although most credit card decisions take a matter of seconds, sometimes the issuer needs more time to process your application.

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If you don’t, you can always call or check online to follow up on the status of a pending application. Bankrate follows a strict editorial policy, so you can trust that our content is honest and accurate. Our award-winning editors and reporters create honest and accurate content to help you make the right financial decisions.

Your credit card application could be pending for a number of reasons, but the most common reason is that the card issuer is verifying your income. You can check your application status online or by phone with the card provider. It could take a few weeks to receive a decision, though the card issuer has 30 days to report back to you. Major credit card issuers have customer service phone lines that you can usually use to check an application status. The line might quickly lead to a specialist who can provide detailed information about your credit card application, if available.

It’s better to take your time to find the right card to apply for rather than waste your time applying for cards you are unlikely to get approved for. If you do want to apply for multiple cards, then spread out your requests so they are at least six months apart. A pre-qualification form only provides the lender with partial information. If you decide to submit an actual application, lenders will receive a more holistic picture of your finances.