Credit Card Status: Understanding Types of Status and Ways to Check Them

Credit cards have become an essential part of everyone’s financial life because of their convenience and range of benefits. They offer a lot of ease in terms of transactions, cashback, reward points, and other perks. However, knowing the application status of your credit card has a significant impact on your financial wellbeing. Suppose you are waiting for a rejection or acceptance letter on a credit card application. In that case, knowing the card’s status to plan is essential.

Credit card status is the stage of a credit card application processing that helps credit card applicants track the status of their application. Here is a comprehensive guide that will help you to understand the different types of credit card statuses and the ways you can check them.

Types of Credit Card Status:

Credit card statuses are classified into three categories, depending on the stage of your application process.

1. Application Submitted

When you submit an online application form or mail a paper application for a credit card, the first status is ‘Application submitted.’ It is the initial stage of the credit card application process. After submitting the application, the card issuer reviews the applicant’s information to determine the reliability of their creditworthiness.

2. Application In-Progress

The next stage of credit card application status is when the application is in progress. This stage occurs when the credit card issuer reviews the credit score, income rate, and other essential details from your application. This process will help them to decide whether or not to approve the credit card application. If your application is approved, you will receive your credit card.

3. Approved/Rejected

Either way, the final stage of a credit card application status is whether it is approved or rejected. In most cases, it takes about two weeks to get your credit card application status confirmed. However, some banks and credit card issuers send an immediate notification about the application’s approval status. If you have received a confirming email or letter from the card issuer, you can track the delivery of your card.

Ways to Check Credit Card Status:

Each bank and credit card issuer will have a slightly different process for checking your credit card status. However, below are some of the standard ways to check your credit card status:

1. Via Website

The easiest way to check your credit card status is via the lender’s website. Most banks and financial institutions have an online banking portal, and customers can log in to track the status of their credit card application. To check your status online, you need to provide certain information like application number, mobile number, or registered email ID.

2. Via Phone

You can also check your credit card application status via phone. Many banks and financial institutions offer a dedicated customer care number to assist people with their credit card application status queries. Once you call the customer care number, a representative will ask you for your application reference number, and they will tell you the exact status of your credit card application.

3. Email

Some credit card issuers and banks also send an email with updates on your application status. If you provided your email address during the credit card application process, you may receive these automated emails with regular updates on your application status.

4. Branch Visit

If you are not familiar with online banking or don’t have internet access, visiting the bank branch is an option. You can visit the bank branch where you submitted the credit card application form, and the officer will give you the latest status of your credit card application.

Things to Keep in Mind While Checking Credit Card Status:

Credit Card status queries may seem like a trivial matter, but the stakes are quite high, and it is essential to get the process right. Here are some things to keep in mind while checking your credit card status:

1. Information Required

You must have critical information required to check your credit card application status. It mainly includes your application number, registered email ID, and mobile number. It is recommended to keep these documents ready before checking your application status.

2. Check with the Right Department

Make sure you contact the right department for your credit card application status query. For instance, if you are contacting the bank’s customer care, make sure you ask about the credit card department. The representative’s job is to check the credit card status and assist you in the process.

3. Check frequently.

Checking your credit card status frequently is essential to plan your finances and inform you about any changes or issues in your application.

4. Patience

The credit card application process takes time, and it requires patience. While waiting for your application status update, you need to remain patient. Avoid calling too frequently as this raises a red flag with the bank, or in some cases, it may delay the application process.

Conclusion:

Having a clear understanding of your credit card status at each stage of the application process is essential for maintaining good financial health. This article has highlighted the different types of credit card statuses, ways to check them, and essential things to keep in mind while checking your application status. Knowing your credit card status will help you to make informed decisions about your finances, plan your expenses, and avoid any problems with your credit score.