Application
In order to be approved for a credit card, you must first fill out an application. This is usually done online on a secure website, although some people prefer paper or phone applications. You will be required to give demographic information, such as your name, address and phone number. You'll also have to give your Social Security number and possibly your driver's license number for identification purposes. The application will also require employer and income information, as well as a list of your current loans and accounts.
Verification
The credit card issuer will verify your information and check one or more of your credit reports to see if you are a good risk. If you filled out your application online, included all the necessary information and have an excellent credit history, Creditcards.com says you may received an instant approval. If some of the information is missing or you have had some financial problems, the approval will most likely be delayed so the issuer can look at your application more closely. You may be asked to provide additional information, or the company may do its own investigation.
If the credit card company feels that you would be too much of a risk because of your income, credit history or some other factor, it will decline the application. BCS Alliance says the company is required to provide the reason in writing and let you know where it obtain the information used to make its decision.
Issuing the Card
When you are approved, the credit card issuer will give you a credit limit based on your financial information and credit score. It will mail a credit card to you, along with information on your credit line, interest rate, payment due dates, fees and other terms and conditions. It should also spell out any reward programs and other benefits. You will have to activate the credit card before you can use it. This is usually done by calling a telephone number included with the card and verifying some personal information. By activating and using the card, you agree to the terms.
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