It can take anywhere from less than a minute to a few weeks to get approved for a credit card. The amount of time depends on how you apply, how good your credit is relative to the requirements of the card, and whether the issuer can immediately verify your information. You could be instantly approved if you apply online and are obviously qualified. But if you don’t get instant approval, it’ll typically take at least 7-10 business days to hear back.
Here’s what affects how long it takes to get approved for a credit card:
The way you apply. You can apply for most credit cards by mail, by phone or online. If you apply by mail, that’s going to add an extra 1-7 days just for your application to get there. The other two methods both allow for instant approval.
Your credit and income. No credit card guarantees instant approval. You’ll only get it if you exceed the issuer’s credit, income and other requirements. If you’re right on the border of qualifying, the issuer will probably take longer to consider your application. The typical wait time is 7-10 business days, which translates to around two weeks.
Your personal info. You’ll need to enter details like your name, date of birth, address and Social Security number when you apply for any card. That information also is present on your credit reports, which the issuer will check during the approval process. If the information on your application doesn’t match the information on your report, or if it gets flagged as fraudulent, it will hold up the process until the issuer can verify your identity.
So the standard timeframe in which you can expect to be approved for a credit card and receive it by mail is approximately 3-4 weeks. If you’re not approved instantly, count on 7-10 business days for approval and 7-10 business days for delivery. And if you’re itching to get your card faster, don’t forget to ask the issuer about expedited delivery.
It really depends on the card that you apply for, and the way you apply. If you go online, and your file is squeaky-clean, you can get a decision in a couple of seconds.
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