Applying for a credit card has become very simple nowadays. All you have to do is visit your bank or even simpler, log on to the bank’s website. Everything can be done with a few clicks. Similarly, you can also check the status of your credit card application with ease. Understandably, you wait for your credit card and any delays in the process can be demotivating. Thankfully, you can put the speculations aside and see what is happening to your application on your bank’s portal.
Checking the status of your credit card application online
Like mentioned above, it is very simple to check the status of your application. Here is what you have to do:
1. Log on to the bank’s website.
2. Open the link to track the card (commonly spotted on the left panel).
3. Enter the application reference number or application form number in the space provided.
4. Enter your mobile number or your date of birth (for verification)
5. Get to know the status of your application
Some banks also provide this service via text messages. All you need to do is send as SMS to the number provided with all the details. You will then get a reply with the status of your application.
What are the statuses that are commonly seen?
When checking for your credit card application status online, you will see any one of the following:
• Application approved
• Application declined
• In process
Let us take a closer look at each.
Application approved – This is a very positive status report as once your application is approved, your entire credit card journey will commence. The bank, after going through the profile of the consumer and the documents submitted, decides whether or not it will issue the credit card. Your application getting approved means that the bank is happy with your profile and would like to issue you a credit card.
Application declined – Whether a bank’s representative called you directly and convinced you to take a credit card or it was your own decision to apply for one, your application can be declined. Many people are left confused as to why their application got declined, but there are some very basic reasons behind this. If you find your application has been declined, check to see if you submitted all the correct documents. Then, if you are employed with a lesser known company or are unemployed or self-employed, then the bank may have thought of you as a potentially risky person to do business with and therefore declined your application.
In process – This status message means that your application is still being scrutinized, your credit scores evaluated and your overall financial health is being looked into. Banks exercise some caution before issuing credit cards to ensure that the customer doesn’t become a defaulter later on. So this status may take some time to change into either an ‘approved’ status or a ‘declined’ status.
Despatched – If you see this status when you log on to check the status of your credit card application, then you must feel happy! This means that your application has been approved and your card is on its way to reach you.
Other ways of checking the status of your credit card application
Apart from checking the status online, you can also visit a branch of the bank and speak to a customer relationship officer directly. If you provide them with the basic details (the same details that you need to enter on the website), they can check the status and let you know instantly. Alternatively, you could also contact your card agent or broker through whom you applied for the card. It is the broker’s job to provide you with all the information that you need regarding your credit card. Give him the required data and he will do the job for you.
So as you can see, it is extremely easy these days to know exactly what is happening to your credit card and how far away it is from you! Like all banking transactions, checking the credit card application status is also extremely simple and you can carry it out without any difficulty whatsoever.