Should I Apply For a Credit Card Online Or In Person? (2024)

FAQs

Should I Apply For a Credit Card Online Or In Person? ›

It is better to apply for a credit card online rather than in person. Applying online is the fastest, most convenient method because you can do it any time, from anywhere. It also makes the most sense after comparing credit card offers online, which you really need to do if you want to find the best deal.

It's usually safe to apply for a credit card online, especially if you're on the credit card issuer's official website and you use a secure connection. Credit card issuers often have stringent security measures designed to protect applicants' personal information.

Applying for a credit card online is often the quickest option. You could get a near-instant answer to your application. And if you're approved, some lenders may give you a virtual card number to start using straight away.

You could be approved for a credit card right away if you apply online. That's if your application satisfies the lender's credit policies. If the issuer needs more information to decide, it could take longer. You could also get approved or denied quickly if you apply over the phone or in person.

Apply at your bank or credit union. You'll be in a better position to win approval if you apply for a credit card at the bank or credit union where you already have a checking or savings account.

Use your card for everyday purchases.

Getting a credit card from your bank can be a great way to continue building your financial profile and credit history as well as earning valuable rewards. It can also be easier to qualify for a credit card from an issuer you already have a good relationship with.

Banks and credit unions use encryption to protect the personal information given on online applications. And for added security, most will automatically log you out of the application browser if you're inactive for a certain period of time.

Banks usually require you to have a CIBIL score of at least 750 before a credit card is provided.

When you open a new credit card, your average account age decreases. Therefore, 25% of your credit score takes a hit when you're approved for a credit card. Fortunately, the effects won't last very long and your score will bounce back within a couple months—if you use your credit card responsibly.

Applying for multiple credit cards at once can also bring down your score, at least temporarily. Each time you apply for credit, the issuer makes a hard credit inquiry, which can make your credit decrease by a bit.

How long should I wait to apply for another credit card after being approved? ›

You may want to reconsider the number of credit cards you have if you're falling behind on regular payments or if annual fees are eating up too much of your budget. It's also a good idea to wait at least 90 days between new credit card applications —and it's even better if you can wait a full six months.

History isn't instant. If you haven't used credit before, it usually takes at least six months to generate a credit score – and longer to earn a good or excellent score.

The bottom line

Approval for a traditional credit card often means waiting for up to 10 days before you can receive and use a physical card. Yet many card issuers are offering a way around the wait with instant-use credit cards that allow you to use your account and take advantage of cardholder benefits right away.

While Visa and Mastercard have long been the most widely accepted credit card networks worldwide, American Express and Discover have been working on expanding their footprints in the U.S. and abroad.

Filling out a credit card application is likely the easiest part of the process. You typically have the option of applying over the phone, in person, or online. Applying online is the quickest method, since a lending decision is often made instantly.

However, it's generally a good idea to space out your applications. While you can apply for multiple credit cards at once, doing so has potential drawbacks – such as a blow to your credit score. As a result, you may have trouble getting approved for an auto loan or mortgage.