How long does it take for my credit card to be approved?
July 9, 2023 | 45,00 EUR | answered by Carsten Ahlert
Dear lawyer specializing in banking law,
I recently applied for a credit card at my bank and I am wondering how long it usually takes for my credit card to be approved. I submitted the application two weeks ago and have not received any feedback yet.
Background information: I applied for the credit card to increase my financial flexibility and to have a reserve in case of emergency. Since I travel a lot for work and often work abroad, a credit card is essential for me. I have already submitted all the necessary documents and am confident that my creditworthiness is sufficient.
My concern now is that there may be delays in the approval of my application and I urgently need the credit card. I am wondering if it is common for the processing of a credit card application to take so long and if there are possible reasons for the delay.
Can you please tell me how long it usually takes for a credit card to be approved and if there are ways to expedite the process? Are there specific steps I can take to ensure that my application is processed as quickly as possible?
Thank you in advance for your help and I look forward to your response.
Sincerely,
Guido Vollmann
Dear Mr. Vollmann,
Thank you for your inquiry regarding the processing time of credit card applications. I understand your concern, especially if you are often traveling for work and urgently need the credit card. I will be happy to explain in detail how the process usually works and what possible reasons there could be for delays.
Typically, the approval of a credit card application takes about 1-2 weeks. However, this may vary depending on the bank and individual circumstances. Various factors are taken into account when reviewing your application, such as your creditworthiness, income situation, and credit history. If you have submitted all the necessary documents and your creditworthiness is sufficient, the approval should generally proceed smoothly.
However, there may be various reasons why there could be delays. For example, your documents may not have been fully processed yet, there may be technical issues, or the bank may currently have a high number of applications to process. In such cases, delays may occur that are unfortunately not always foreseeable in advance.
To expedite the process, you can actively inquire with your bank whether your application is already being processed and if any further information is needed. You can also mention that you urgently need the credit card and request expedited processing. Often, banks can expedite the process in such cases to ensure customer satisfaction.
In any case, I advise you to remain patient and regularly inquire with your bank to inquire about the status of your application. If there are unreasonably long delays, you also have the right to contact the banking supervisory authority for assistance.
I hope this information was helpful to you. If you have any further questions, I am at your disposal. Thank you for your trust, and I wish you success in the approval of your credit card application.
Sincerely,
Carsten Ahlert
Attorney specializing in banking law
