Consumers are often eager to use new credit cards, so they ask, “How long does it take to get a credit card?”
After consumers receive approval for their new credit cards, they have to wait at least five business days for them to come in the mail. This is if the credit card issuer is extremely efficient. If not, it may take as long as two weeks to receive the card.
Unfortunately, the answer to this question depends on how the consumer applied for the credit card. Some applicants applied over the telephone, and others applied by mail. If so, they could wait even longer to receive the answers they are hoping for and the cards that they are eager to receive.
How Long Does It Take for a Credit Card Issuer to Approve a Consumer?
Consumers are welcome to apply for credit cards and receive instant approval. The professionals at SoFi point out that credit card companies usually look at your creditworthiness (your history of on-time payments, credit cards usage, etc.), your income, and whether you’re old enough to get a credit card. The consumer fills out the application online, and the credit card issuer reviews it and gives an answer at that moment. This means that consumers can receive their answers in as little as a few minutes. If the issuer needs additional information, the process will require more time.
How Long Will It Be Before You Receive Your Credit Card?
In some cases, consumers can begin to learn the details of their new credit cards right after they are approved. If not, they will receive their cards between five days and two weeks. Some consumers may be able to ask their card issuers to speed this process up for a fee, and others would be happy to perform this service at no charge.
How Can You Get Your Credit Card Faster?
It’s possible for consumers to have their new credit cards in their hands sooner than two weeks if they do the following:
Apply for an Instant Use Credit Card
Sometimes, credit card companies offer their clients “instant use credit cards.” An instant-use credit card is one that the consumer can apply for and begin using the same day. These consumers do not need to have a credit card in their possession. An example of this is a credit card for a store. Consumers apply for these cards in the stores, and if they receive approval right then and there, they may be able to use their cards right away.
Ask for Expedited Shipping
After being approved for a credit card, consumers may ask their credit card issuers to send their cards to them with expedited shipping. Sometimes, this can be done without charging a fee, but some companies do.
Apply for a Card with Pre-approval
If consumers meet a credit card issuer’s criterion for being pre-approved, they will receive pre-approved offers in the mail. The credit card issuer pre-approves consumers for their credit card offers by running soft inquiries, but these soft inquiries do not hurt a consumer’s credit reports. The consumer may decide to apply for the credit card, and the credit card issuer will run a hard inquiry at that time.
The suggestions listed above will help consumers if they need credit instantly. They may not receive it that quickly, but it will help them find a credit card in less time than two weeks.