What Does It Mean When Your Credit Card Application Is Pending?

One of the benefits of applying for credit cards online is that you can usually find out whether you’ve been approved or rejected within minutes. However, in some cases, you’ll see that your credit card application is “under review” or “pending.”

Lenders sometimes need additional time to assess credit applications. Here’s how long you might have to wait if your application is pending and what you can do while waiting to hear back from the credit card company.

How long does it take to review a credit card application?

It depends. When you apply for a credit card online, you may receive instant approval. However, there are times when it may take a few days to process your application.

Many pending credit card applications are resolved within a few days, but for some lenders, the review process can take two weeks or more to complete.

If your application is accepted, you can often make online purchases using your new credit card number immediately. However, it typically takes seven to 10 days for the physical credit card to arrive in the mail.

What is instant approval and how does it work?

Instant approval credit cards are exactly what they sound like. When you apply for an instant approval card, you’ll get your approval decision as soon as you complete your application. A bank or lender will quickly examine your credit score and credit history before deciding whether to issue you an instant approval credit card.

Some instant approval credit cards are conditional, in the sense that a lender may revoke the approval decision after conducting a more thorough review of your credit. While being rejected for a credit card won’t directly hurt your credit score, the hard inquiry that occurs while the issuer is reaching a conclusion will — although it should only cause a temporary dip.

In some cases, lenders may not be able to provide an instant approval decision and may request additional information or verification to finalize the process. People with good or excellent credit have the best chance of getting approved for an instant approval credit card.

Common reasons your application may be under review

Here are some of the most common reasons why your application might still be under review:

• The information you included on your application might not match the information on your credit report. For example, you may have accidentally mistyped your phone number, or perhaps you have recently moved and your credit report hasn’t been updated yet to reflect your new address.
• You recently applied for several new credit accounts. Lenders may want to investigate your recent credit inquiries to assess whether you might be considering taking on more debt than you can manage.
• The lender might suspect identity fraud. If there are discrepancies between your application and your credit report, or if you applied for multiple credit cards in one day, a lender may question whether someone else is trying to take out credit in your name.
• The lender needs to verify your application. In some cases, lenders may reach out to confirm the personal or income information you provided in your application.
• The lender might be overwhelmed with applications. When a bank or credit card issuer releases a new credit card — especially one that offers unique rewards or a popular sign-up bonus — they may receive more applications than they can process at one time.

What to do if your application is pending

If your credit card application status is pending, the best thing you can do is remain patient. While many banks and credit card issuers resolve pending applications within a day or two, it can take weeks for some lenders to make their final decisions. Here’s what you can do while you wait:

• Watch the mail
  

  Most lenders send information about their application decisions through the mail, whether to congratulate you on your approval or to explain why your credit card application was declined. Ensure you haven’t overlooked any letters.

• Monitor your email
  

  Your credit card application decision will often arrive by both postal mail and email — and in most cases, you’ll receive the email first. Keep an eye on your inbox, and don’t forget to check your spam folder.

• Log in to your online portal
  

  If you already have an online account with the bank or lender in question, you may be able to log in to your online portal to check the status of your new credit application. Many credit card issuers also offer application status portals, enabling you to verify your pending application.

• Call customer service
  

  If a few weeks have passed and you’re still waiting to hear back about your application status, you can always reach out to the card issuer’s customer service. Some credit card issuers have dedicated phone lines for checking application statuses, but if you can’t find one, call the main customer service number instead.

How to check your credit card application status

Each issuer has different application processes and methods for checking your credit card application status. If you’re waiting for a decision on your application, here’s how to check your status with some of the major credit card issuers:

The bottom line

The best way to avoid a pending status is to provide complete and accurate information on your application. However, sometimes issuer investigations happen for reasons beyond your control. Regardless of the reason, you should receive a result within a few days. If you don’t, you can always call or check online to follow up on the status of a pending application.