Online credit card applicationsshould take no more than 30 minutes to complete and many provide you with a decision within minutes. As a new customer applying for a credit card online you are still required to verify your identity. In most circumstances you will need personal identification to the value of 100 points. The aim – confident identification of the applicant – is the same, but it is a different process to going into the branch and applying face to face. The requirements can vary between lenders, but a combination of following bits of information and documents are usually requested:
- Email address
- Phone number
- Passport or birth certificate or citizenship certificate
- Drivers licence of alternative photo ID card with signature
- Utility bill (phone, gas, electricity)
- Credit card with signature
- Medicare card
In order to assess your application you may also be asked to provide evidence of your weekly income, particulars of your assets and any outstanding repayment amounts and balances outstanding on any liabilities. If you are self-employed recent tax information may be required.
Once your application is approved, it is common for your card and PIN (Personal Identification Number) to be posted separately to the address you supplied on your form usually within 10 working days from the date all compulsory information is received.
If you are looking for a low rate card RateCity.com.au has done the work for you. The table to the right displays some of the lowest rates sorted by purchase rates.