![]() If your application was rejected and you’re unsure why, make sure you meet the eligibility requirements and order a copy of your credit score to make sure you haven’t fallen victim to fraud or mistakes on your file. You may be tempted to apply for another credit card while you’re waiting for a response, but multiple simultaneous applications will have a negative impact on your credit file. Lodging multiple credit card applications in a short period of time.Common mistakes to avoid when awaiting the status of your credit card application Instead, either request a copy of your credit report to make sure everything’s in order or start comparing other cards to apply for in a few months – making sure you’re paying attention to the eligibility requirements. If you’ve been rejected, don’t apply for another credit card straight away. Factors could include insufficient income, poor creditworthiness and unstable employment. The reason behind a provider not approving your application could be that you haven’t met the eligibility criteria for the credit card. Complete approval only takes effect after you’ve provided the additional information. In such a scenario, you might have to provide personal identification documents or paycheques by visiting a branch office or sending them via fax. Getting conditional approval essentially means that the credit card provider is buying time to verify your details before granting approval. ![]() If your credit card application is under referral, the card provider typically requires more time to carry out further assessments before giving you a conclusive answer. By providing all the required information and keeping a good credit history, you can look forward to instant approval. While lending criteria varies between different credit card providers, they will usually be looking to verify your identity and check your credit score. With online applications, approval can be verified within 60 seconds. What responses can I expect when applying for a card? Instant approval Monitor your calls, inbox and mailbox in case the provider is trying to get in touch with you – but know that calling them first is always the quicker option. Resolving the matter is often simple, and can sometimes take no more than a single phone call. The provider has misplaced your application.The provider has to deal with a large number of applications and hasn’t reached yours yet. ![]() The provider has spotted marks on your credit file that it wishes to analyze further or discuss with you.The provider thinks that certain information on your application may be insufficient, incorrect or inconsistent, and may require additional information or changes.If your credit card application is taking longer than usual to process, it could be due to one of the following reasons: Reasons why your application is taking longer than expected ![]() If you haven’t received a response regarding your credit card application, you can contact your provider using the phone number listed below. In addition, be absolutely certain that you meet all of the eligibility requirements for the card before applying. The general rule is to provide all of the required information when you apply, as this will generally speed up the approval process. If you’re an existing member of the bank, the process may be quicker as they already have some of your verified information in their systems and are better aware of your financial picture.
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