It's now common practice for us to shop or book flights online, and sometimes apply for credit cards online. It seems simple enough to buy items on Amazon or booking flights on Flight Centre. But it's not always so simple to apply for a credit card online.

So we're going to walk you through 5 things to know when you apply for a credit card online. 

1. Decide what's the right credit card type for you

The first question to answer before we apply for a credit card online is what type of credit card is right for me?

To lay it down in simple fashion. The main credit card types or offers are low rate, no annual fee, rewards, balance transfer and travel.

Check out how to compare credit cards in Australia for more in-depth details on the credit card types. 

Young smiling female tourist holding credit card and ready to buy flight tickets, isolated on yellow background

Low Rate: 

A low interest rate credit card is likely the right choice if you carry over a spending balance every month.

Carrying a balance over each month comes along with interest charges. So of course choosing a low rate card will have you paying less interest every month. 

No Annual Fee:

A credit card with no annual fee is a suitable choice if want a basic credit card and not have to pay a fee to use or have it. 

Low annual fee cards don't have as many extra benefits. Thus, if you'd like more perks then you may consider comprising and paying an annual fee. 

Balance Transfer:

A balance transfer offer is a suitable pick if you find it difficult to pay your credit card balance off. 

The idea of balance transfer is to give you a break from paying high interest and instead pay 0% interest for a term. It can be a great way to pay down your credit card debt quicker. 


Do you pay off the full balance of your credit card each month? If so, then a reward points credit card is your perfect match.

Paying the full balance each month means you won't pay interest. 

But as you do everyday spending on your credit card, you can reap great reward benefits. Reap rewards such as gift vouchers, house items, cashback, free flights and more. Do check the reward points structure of the credit card and choose one that suits your spending.


Do you prefer rewards with free flights or hotel stays? If that's the case, then a frequent flyer points can be right for you. Earn frequent flyer points on your domestic and international spending. To get the full benefit you should pay your balance off in full each month. 

Or do you want to use a card for a one time holiday trip? If so, then instead select credit card that comes with extra travel benefits. Benefits like no foreign transaction fees, travel insurance, lounge access or travel credits. 


2. Compare the credit card offers online

Once you know the right credit card type for you. You can then use our online credit card comparison website to search and compare offers available in the market.

Hands holding red and green apples on green grass background with copy space

Using a credit card comparison site gives you a bird's-eye view of the credit card market. Helping you to see the best credit cards offers available to you.

Remember to compare the many extra benefits that come as complimentary with credit cards. Such as no foreign transactions, purchase protection, complimentary travel insurance and more. 


3. Check the eligibility requirements of the credit card

Next step is checking if you're eligible to apply for the specific credit card you want. 

Writing note showing Obligation. Business photo showcasing Condition of being morally or legally bound to do something Debt

There are 4 main eligibility criteria:

Minimum Income: Sometimes credit cards do or don't have a minimum income requirement. Double check to see if your gross income meets the minimum income.  

Minimum Credit Limit: Not all credit cards in the market have a minimum credit limit. In general, the higher the minimum credit limit then the higher the minimum income that's required. 

Minimum Age Limit: To be a primary cardholder of a credit card, the minimum age limit is 18 years in Australia. 

Must be an Australia Resident: To get approved for a credit card you must either be an Australian Citizen. Or be an Australian Permanent Resident, New Zealand Citizen. Or have more than 9 months left on a valid working visa, business visa or investor visa. 


4. Get your personal and financial info ready

Like most applications, you will need enter your personal details. Being a financial product application your financial info is also needed.

Debt-to-Income Concept

Here is the main information to have before you start to apply for a credit card online. 

Email address: To receive a quick response if approved or not. 

Australian driver's licence: To identify yourself to the credit card provider. 

Occupation, employer's Address & contact Number: For checking and confirming your employment status. For self-employed applications you should supply your accountant's name and contact. 

Income, Debt and Assets: Your income is to check if you can meet the repayments each month. The debt and assets shows the provider a picture of your financial health position.

Living Expenses: Provide your monthly expenses for utilities, groceries, health and education.

Payslips for Proof of Income: Show payslips from the last 45 days. Or show 3 month's of salary history going into your bank account. Business owners or self employed to show their notice of assessment within 18 months. 


5. What happens if your application is approved or declined?

It can take 60 seconds or up to 5 days to get an answer back on your application. An online approval is usually conditional. Meaning that it's approved on the condition that the information you submitted all checks out. 


If approved, how many days until I get my card?

It usually takes anywhere between 1 to 14 days for your to receive your credit card in the mail. This depends on the provider and your mail location. Yet, some banks like Bankwest offer a digital version of the credit card via their app, so you can use it almost instantly.

What can I do if I was declined?

Call your bank and quote your application reference number. Ask why your credit card application is declined. Then try and resolve the declined reason or ask your bank to manually re-assess your application. 


As always if you have any comments feel free to share them with us below.