Low interest credit card online

Banks are starting to come forward with for their application process to get a credit card, and now several banks are offering to apply for your credit card online.

Application online is a process where instead of going to your local card issuers branch, waiting in line, filling the form and then waiting while it is entered into the computer system – You do it faster and apply using your internet banking. This is not very helpful if you are not already a member of the bank you want your credit card to be issued from, but it is helpful for those who are – and depending on national and the specific issuers policies and contract conditions. If you have a bank account in a specific bank, you have a clean credit record and have a healthy inflow in that bank account – most banks will accept your credit card request with no further documentation and physical identification – and in some cases even will send you the card by mail – right to your doorstep.


Applying for a credit card online, for a new costumer to the bank, can safe waiting time and the hassle to fill out forms and wait for them to be entered. In some cases and countries, like the USA or UK, it will save you the walk to the bank altogether.


Application for a credit card is a form you fill out, where you put your identification details, your income details and a tick for choosing which exactly credit card offer you choose.


Banks will accept you a credit account based on one of 3 factors or in some banks only if you fulfill all three of them.


1. You are checked to have a clean credit history. A lot of banks can give you a benefit loaded credit card solely based on that. Basically – if you still don’t have a credit issue, there is a good chance that you will pay back the money and will start using more credit purchases. In a given country the National Bank and all credit institutions hold an electronic record of everybody who has a credit issue. If you’re on there, it is a good reason for the bank not to give you a credit card. (This is the reason why some banks give you the decision in seconds after submitting your application, if even you are a new client to the bank).


2. The second factor of your evaluation, practiced by more banks around the world – If you do have an account in the bank you want to receive the credit card from – is your account checking for healthy income, with your permission. This is an additional parameter checked when deciding is it safe to give you a credit card – how is your income. Contrary to even more old fashioned banks, where you have to hand in an original statement from your employer, that you work for him legally, background checks with the tax office or if you are an entrepreneur statement from the tax office, etc. – the bank just simply checks your account, irrespective of your income source – sees that you have regular income (usually for the last 3 months) – and trusts you on that.


3. The third additional factor to choose if you are eligible for a credit card applies to companies and freelancers. Some banks additionally to you income, or if your income is in another bank – might ask for a statement from the bank you have you income at, and/or a statement from tax office, and/or your public turnover if you are a small business, for example. This way the bank can trust you, and offer you a higher credit limit.


These proofs classically had to be officially stamped or signed and handed in into the bank. This means that you had to spend a lot of time getting the documents together and then physically going to the bank, and handing them in. Than you may have to wait up to 3 working days on the decision made by people who evaluate your case just by – He has it or he doesn’t, of not than denying.


So even if you are not a client of the card issuer you still can save 1-3 trips to the bank.


1. You save the time when you have to go to the bank and fill the application.


2. You can save a visit by not needing to submit verification documents.


3. You can save a trip by ordering the card to be delivered to your doorstep.


4. And you can save a visit by enclosing, filling and submitting additional paper work by mail or through your internet banking account.


And how to apply? I can’t give you an universal answer – the most credit prone countries, like USA and UK have several online banks who offer that, but in other countries you will have to physically submit verification documents, hence the way to apply has to be sequentially checked online, by looking on your national bank credit card offer application conditions or even easier – calling the bank and just asking. Never forget to ask everything you are even faintly interested in about your credit card condition, and know that they have to answer.