How To Get A Credit card Quickly | moneyfacts.co.uk

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Derin Clark

Derin Clark

Online Reporter
Published: 18/06/2021

Whether looking to clear debts by moving outstanding credit card balances to a 0% balance card or looking to make a large purchase using a 0% purchase card, there are many reasons why a credit card will need to be received quickly.

Although it can take weeks to receive a new credit card from the initial application, there are fortunately some ways to get a credit card quicker than this. Here we’ve looked at how to get a credit card quickly.

What is the quickest way to apply for a credit card?

Although credit card applications can often be made in branch, over the phone or by post, often the quickest way to make a credit card application is online. An online credit card application can take under 10 minutes to complete and can be done be done at any time that is convenient for the borrower.

As well as this, the time of the application can help to quicken the process. For example, an application made at the start of the week on a Monday or Tuesday has more working days to process than an application made on a Friday, which can often be left unprocessed over the weekend.

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Speeding up credit checks

Not all credit card applications are accepted as lenders want to check that the borrower has a good record of managing and paying their debts. As such, lenders will likely carryout a credit check on the applicant to determine the risk of lending to them. If the borrower’s credit check comes back showing that they have a good credit history the lender will likely be willing to offer them a higher borrowing amount at a more competitive APR than those whose credit score is low.

To speed up the application, consumers can check their own credit score for free online. If the score comes back low, they may be rejected for a traditional credit card and, as such, may want to consider applying for a credit repair card instead. These cards are aimed at those with a poor credit history and usually offer a lower borrowing amount than traditional credit cards. These cards usually have a high APR, however, so it is important to repay the balance in full each month to stop a large amount of interest accumulating on the debt.

How long will it take for your credit card application to be approved?

An online application is often processed quicker and some lenders will instantly approve or decline the application. Those who apply in branch, by phone or by post, however, may find it takes longer for their application to be approved and it can take up to 10 days.

Receiving the new credit card

The hardest part of the process to speed up is receiving the physical credit card and this can take up to two weeks, however any longer than this and borrowers may want to contact the lender to ensure the new card is on its way. Those who apply for the credit card online may find that they receive it quicker than those who apply using other methods as earlier stages of the application can often be done quicker online. Normally the credit card will be received by post and borrowers will usually receive a separate correspondence by post with the four-digit pin number. Once both these have been received the card is normally ready to use.

Credit card calculators

Although a credit card can be a good way to borrow money it can be easy to fall into long-term credit card debt. To help you pay off your credit card debt as quickly as possible we have launched a range of credit card calculators including a Balance Transfer Credit Card Interest Calculator, a Minimum Repayment Credit Card Calculator and a Credit Card Repayment Calculator to help you calculate how quickly you can repay money borrowed on your credit card.

Disclaimer

Information is correct as of the date of publication (shown at the top of this article). Any products featured may be withdrawn by their provider or changed at any time. Links to third parties on this page are paid for by the third party. You can find out more about the individual products by visiting their site. Moneyfacts.co.uk will receive a small payment if you use their services after you click through to their site. All information is subject to change without notice. Please check all terms before making any decisions. This information is intended solely to provide guidance and is not financial advice. Moneyfacts will not be liable for any loss arising from your use or reliance on this information. If you are in any doubt, Moneyfacts recommends you obtain independent financial advice.

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