Easy Credit Card Applications

Credit card applications are one of the easiest things to do in your dealings with Australian financial institutions. You will need to meet certain criteria, which you can get from mailers of credit card offers. Once you meet these criteria, the credit card application process proceeds very quickly.

Before you act on particular credit card offers, take some time to identify your needs and spending behaviour. These are important for you to select the credit card that's just right for you. After you have made your choice from among the credit card offers you have on hand, you can choose from three credit card application channels:

• Apply in person
• Apply by phone
• Apply online

The easiest, most convenient means of making credit card applications is online. It usually takes 10-15 minutes for you to complete an online credit card application. Within a minute after submission you will get a response, and a message containing an application reference number will be sent to your email address.

Most Australian websites designed to take online credit card applications are secure, but it doesn't hurt to make sure there's a padlock icon on the bottom right-hand corner of your browser before you start providing any sensitive information.

It is best to have all necessary information ready; otherwise the system might time out for extended inactivity if you spend too much looking for the data. The information needed includes:

• Personal and contact details -- complete name (including middle name); date of birth; gender; home and email addresses; telephone numbers (home and mobile); if you intend to nominate an additional cardholder, his or her personal details should also be available.
• Australian driver's licence number
• Financial details -- income (should be at least $15,000 a year for standard credit card applications; gold credit cards need $50,000 minimum annual income, and platinum credit cards need $65,000 minimum); normal expenses; assets (house, vehicle, savings, etc.) and debts (mortgages, balances on other credit cards, other loans and legal obligations).
• Name, address and contact number of your employer (if employed) or of your accountant (if self-employed). The numbers you provide should be those listed in the phone book to facilitate verification. Those without regular incomes or don't have a salary are likely to have their credit card applications rejected.

There are other qualifications you need to satisfy: you must be age 18 years or older and an Australian citizen or a permanent resident. This means that holders of student visas are not eligible and should not submit credit card applications.

There may be non-permanent residents in Australia who receive credit card offers and wish to take advantage of them. There are some credit card issuers who might approve their credit card applications provided they have at least $50,000 in annual income.

Once your credit card application is approved, the credit card and a welcome kit will be delivered in about five (5) business days. It will be necessary to visit the issuing bank's branch office and complete their identification procedures.

For additional information on credit cards or related topics please visit our library of credit card articles.