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Online Credit Applications

There was a time when you had to wait days or even weeks to get a credit card approval. Now it takes 60 seconds. That is the power of the Internet and online credit card applications. But not everyone can get the go ahead for credit cards online. You need to have a perfectly good credit score to take advantage of the online credit card system.

There are many people who think if it is safe for them to apply credit card online. There are many benefits of online application for a credit card in UK but then there is the question of security. In the light of numerous hacking and cracking by people especially on financial websites, the fear is always there at the back of the mind. So most banking institutions in the UK have installed advanced security systems so that they are able to protect all their current and future credit card customers from falling prey to fraud and information theft.

Banks and credit agencies are more worried about the security aspect because incidents of personal information theft have happened before. Sometimes, even employees from within the bank have misused the personal information of customers and this has created a situation where people still don’t have enough faith in the online medium of filling applications. The good news is that all the credit agencies and banks have added so much security that it is now extremely difficult for employees as well as outsiders to get hold of the information. Customers are also advised to do weekly anti virus and anti spyware checks on their computer so that the information they are sharing online doesn’t go to a third party.

There is not much difference between an online application and offline application where credit card is concerned. Either ways, you will be filling a form that will have a set of common questions and a place to fill personal information. Personal information includes contact information like phone number, address, e-mail address, and mobile number. Apart from this personal information also includes the annual income of the household, and banking information. Some credit cards like the American Express Red have terms & conditions that you have to fulfill before you can apply. The terms are:

  1. Your age has to be 18 or over
  2. You should have a current UK bank account or a building society account
  3. Your annual Household income should be £20,000. This includes your income and your partner’s income.
  4. You need to have a permanent home address in the UK
  5. There shouldn’t be any County Court Judgements on your name for non-payment of any loan or debt

All UK credit cards require additional questions apart from the questions already asked. These additional questions can be answered if you are looking for a higher line of credit. The additional questions can differ from credit agency to credit agency. American Express Red card for example asks something totally different in additional questions. They ask if you are interested in a free extra card for any of your family members and if you want to enroll for the repayment protection plan. Once you have completed the application form, just send it and wait for an email notification of acceptance.

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