Applying for a credit card online is a convenient and secure process. You can usually complete an online credit card application form in around 10 to 20 minutes and get a response within 60 seconds of submitting it.
If you've never applied online or if you have concerns about the process, here you'll find a step-by-step guide, tips on how to compare cards and the details you need to provide on the application.
How to apply for a credit card online in 4 steps
1. Compare credit cards
This is an important step to help you find the right card for you. Start by thinking about what you want a credit card for and then consider the features, rates and fees applicable to different cards. If you're comparing cards on Finder, you can use the comparison tables to look at the product's features and fees side-by-side or click "More info" to read reviews of individual products. You can also check the eligibility requirements to see if you're likely to be approved for the card.
Compare credit cards and apply online
2. Click through to the credit card online application form
Most Australian credit card issuers offer online applications which you can complete through their website. If you're using Finder to compare and have found a credit card you want to apply for, click the "Go to Site" button. This will take you to a secure online application, where you can review all the card details before filling out the application form.
Credit card application eligibility requirements
Before you get started with an online credit card application, make sure you meet the eligibility requirements. These can vary between cards but usually include the following:
- Minimum age. You need to be at least 18 to apply for a credit card in Australia.
- Residency status. Some cards are only available to citizens and permanent residents of Australia, while others may be available to temporary residents as well.
- Income. Some cards list a minimum income requirement you'll need to meet before you can apply.
- Credit score. You'll generally need a good credit score to get approved for a credit card.
3. Provide your details
As well as the eligibility criteria, the bank will list the specific information you'll need to provide to complete the application. This generally includes personal, financial and employment details including:
- Personal details. This includes your title, full name, date of birth, marital status, whether you have any dependent children, your driver's licence or Medicare card number (if applicable) and your Australian residency status. If you are an existing customer of the bank, you may not need to provide these details as your bank will already have them.
- Contact details and address. You usually need to enter a phone number and a valid email address.
- Current employment details. List your current employment status and your occupation. If you are self-employed, you may need to provide your accountant's details.
- Employer's contact. This is where you enter the details of your employer, including the company name, address and contact. You may also need to provide details for your payroll department or supervisor, in case the credit card company wants to verify this information.
- Income. Confirm your regular income from employment. Usually, you can choose whether you provide your weekly, monthly or annual income. Some applications may ask for specific details, such as your before or after-tax income, so read each application carefully. If there is an information button, click on it to get more information about what's required.
- Monthly expenses. Enter your share of the rent or mortgage each month and your share of the monthly living expenses. This could include electricity bills, grocery shopping, petrol money and any other debts you have, such as a car or personal loan balance.
- Assets and liabilities. List whether you own any property, the balance of your other accounts, as well as the value of your other assets. The latter of which can include things like cars and computers and almost anything else you own of substantial value. After you've listed all your assets, you'll need to record your liabilities, including the total limit of all your credit cards, the total amount owing as well as whether you have any other loans besides your mortgage.
Credit card features and information
During the application, you will be asked about different credit card features you can customise or request, such as your credit limit, additional cardholders:
- Credit limit. This is the maximum amount of funds you'll have available on your card. You can request a credit limit or have the issuer offer you a credit limit. The lender will determine your credit limit based on your request and your current financial situation.
- Balance transfer. If you want to take advantage of a balance transfer with your new card, you may need to request it when you apply for your new card. You'll need to list the issuers of the current credit cards and accounts of which you wish to balance transfer. This includes the respective card numbers and how much you want to balance transfer from each account.
- Additional cardholders. You can share your credit card with a partner or family member by adding them as an additional cardholder during the application. To add a secondary cardholder, you will need to share their details, including their full name, date of birth and any other requested information.
4. Review and submit your application
After you've completed the different sections of the online credit card application form, you'll get a summary of all the details you've provided. This gives you a chance to check that all the information is accurate before you complete the application. In some cases, reviewing these details could be the difference between getting approved or declined, so it's an important step to take.
When you're happy with these details, click "Submit" to finalise the application. Your information will then be recorded with the credit card provider and a credit enquiry will be recorded on your credit file. Most credit card providers will then give you a response within 60 seconds of applying. You may be approved, conditionally approved or declined. The bank may ask for more information before making its final decision.
Once you're approved, you can usually expect your new credit card to arrive in the mail within a week or so. If you're not approved, spend some time comparing other options and improving your credit score before you apply for another one.
If you're ready to get a new credit card, start by comparing a range of options. Once you find one you want to apply for, click through to the application, follow these steps and wait for the response. Have more questions about the application process? Get in touch with us using the comment section below.
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You should consider seeking independent financial advice and consider your own
personal financial circumstances when comparing cards.