Waiting for something to happen is always stressful, we all know that. If you ordered a replacement for your credit card or have been approved for a new one you would be probably be anxious now since you are waiting for it to be delivered on your mail.
Credit cards are now helpful in all financial transactions, whether you are having a meal with your family or friends in a restaurant, want to buy a refrigerator or any other appliance, or even want to pay education tuition.
Time to get a credit card
The time to get one varies according to the types of applications. There are two types of applications: standard and instant applications.
The standard takes about 14 days to be delivered. In this sort of process the applicant is asked to fill in the form with his personal and financial information either through the phone or online.
As for the instant it takes around 10 days to be delivered, however, this type of applying procedure are accessed online and available at certain issuers.
What takes them so long?
Why do they need this period of time to deliver the new one to the customer? Well, actually they must first review your information and verify your identification which takes much time.
They also need to check your score. Credit score is mainly based on payment history, debts, average age of accounts, account diversity, and number of hard inquiries.
There are some factors also that could happen accidentally to delay the delivery like for example; timing, if you order it during the a holiday or a weekend it might take much more time to be delivered. High-tier cards which offers better rewards take longer periods as they have to inspect reviews manually.
The providers tend to double check the entered information, so in order to get approved quickly you should make sure all entered data area 100% correct.
Replacement options or substitutes for lost or stolen ones could take little longer in delivery as the company has to update older data and replace it with the new information.
Be patient, it’s the process which takes them so long to deliver the new credit card, as providers have to be 100% sure that everything is going alright as there is no place for mistakes.
It’s a hell of a process, as an applicant or a user you need to have enough knowledge in order to get the best deals and enjoy the peace of mind, keep following us to know all about lending and lenders.