What does it mean when your credit card application is pending?

One of the benefits of applying for credit cards online is the ability to know whether you’ve been approved or rejected within minutes. But in some cases, you’ll find your credit card application is “under review” or “pending.”

Lenders occasionally need extra time to evaluate credit applications. Here’s how long you may 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 can get approved instantly, but sometimes, it might take a few days to process. Many pending credit card applications are resolved within a few days, but it can take two weeks or more for some lenders to complete the review process. And if your application has been accepted, you can often make online purchases with your new credit card number immediately, though it’ll still usually take seven to 10 days for the physical credit card to arrive in the mail.

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, maybe you accidentally mistyped your phone number, or recently moved and your credit report hasn’t yet been updated to reflect your new address.
• You recently applied for several new credit accounts. Lenders may want to investigate your recent credit inquiries to determine whether you might be planning to take on more debt than you can pay off.
• 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 within a single day, a lender might wonder if someone else is trying to take out credit in your name.
• The lender needs to verify your application. In some cases, lenders will contact you to verify the personal information or income information you included on your application.
• The lender might be overwhelmed with applications. When a bank or credit card issuer releases a new credit card — especially if the credit card offers unique rewards or a popular sign-up bonus — they might receive more applications than they can process at once.

What to do if your application is pending

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

• Watch the mail

  Nearly all lenders send information about their application decisions through the mail, whether to congratulate you on your approval or explain why your credit card application was declined. Make sure you haven’t missed 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 might be able to log in to your online portal to check on the status of your new credit application. Many credit card issuers also offer application status portals, allowing you to check your pending application.

• Call customer service

  If a couple of weeks have passed and you’re still waiting to hear back on your application status, you can always contact the card issuer’s customer service. Some credit card issuers have dedicated application status phone lines, but if you can’t find one, call the main customer service phone number.

How to check your credit card application status

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

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. People with good or excellent credit have the best chance of getting approved for an instant approval credit card.

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. Whatever the reason, you should get 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.