Simple steps and tips you can use to apply for a credit card online.
While it's possible to apply for a credit card in-person, over the phone or even by post, applying online is one of the most popular options thanks to its convenience, speed and security. In fact, 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.
But if you've never applied online or if you have concerns about the process, here you'll find a step-by-step guide that can help you with your next credit card application. We also go through tips on how to compare credit cards and the details you need to provide on the application to increase your chances of approval.
How to apply for a credit card online
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 different features, rates and fees that are available on different cards. You can use different comparison tables to see features of similar cards side-by-side, or click "More info" to read reviews of individual cards. You can also check the eligibility requirements to see if you're likely to be approved for the card.
2. Click through to the credit card online application form
Once you've found the 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 requirementsBefore 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'll need to be at least 18 to apply for a credit card.
- 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 and submit the application
Once you've confirmed all the card details, you're ready to fill out the online credit card application form by providing a range of personal and financial details. This process usually takes around 10 to 20 minutes. Then, just hit the submit button and you should get a response in 60 seconds.
What details do I need to apply for a credit card?
- 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 up to two phone contact numbers as well as a valid email address.
- Referee details. Sometimes you'll need to provide the information of a referee. This usually needs to be someone close to you who has known you for a while but who is not living with you.
- Current employment details. Enter your current employment status and your occupation. If you are self-employed, you may need to provide your accountant's details.
- Employer's contact details. This is where you enter the details of your employer, including the company name, address and contact details. You may also need to provide details for your payroll department or supervisor, in case the credit card company want to verify these details. Usually, you'll also have to provide several recent payslips to confirm your employment and income details.
- Income. This is where you enter your regular income from employment. Usually, you'll be able to choose whether you provide your weekly, monthly or annual income. But some applications may ask for specific details, such as your before or after-tax income, so read each application carefully. Another tip: 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. In this section, you'll need to 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. Here are the key options to consider:
- 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. Whatever limit you are approved for will depend on your current financial circumstances.
- Credit limit increase invitation. Credit issuers aren't able to offer you credit limit increase invitations unless you request that they send them to you, and you will need to answer this on your application. If you select "yes" to receiving credit limit increases, you can elect to have them stopped later on.
- Balance transfer. If you want to take advantage of a balance transfer with your new card, you're likely to need to request it when you apply for your new card. You'll need to list the issuers of the current credit cards which you wish to balance transfer. You'll also need to enter their respective card numbers and how much you want to balance transfer from each card.
- Additional cardholders. If you want to share your credit card with a partner or family member, you're usually given the option of including this request on your 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. Additional cardholders can also be requested after your initial application. Either way, you will still be the one responsible for keeping the account in good standing.
Tip: Review your online credit card application before you submit it
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.
Once you're happy with these details, click "Submit" to finalise the application. Your details 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, declined, or the bank may ask for more information before making its final decision.
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. Or, if you have more questions about the application process, get in touch with us using the comment section below.
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