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

As long as you meet the credit card's qualifications and your information gets verified electronically, the application decided can be processed quickly. However, you won't always get an instant decision regarding your applications. You need to fill in the required details and provide the necessary documents to the bank from which you will be applying for the credit card. Sometimes there are reasons that cause delay in the process of your credit card approval. However, there is no need to panic as this can be sorted out quite easily.

Reasons why your credit card application is pending

There can be very simple explanations as to why your credit card application is pending. Let us have a look at some of them:

  • There might be some issues with verification because of which the processing takes time. For example, if you have provided some incorrect data by mistake, the issuing bank will take its time and get in touch with you to get the verification done.
  • There can be another reason as to why your bank might be holding the application process, you might have applied for too many cards on the same day. If that is the case, then the bank will take some time to sort out all your applications, verify the data and then one by one approve your cards and provide you with them.
  • Different banks have different operation times. There are some banks that generally take a longer period of time especially if they are flooded with applications or their general processing time is longer.

What should you do in such a scenario?

If you apply for credit card and find the application pending, then the smartest thing for you to do would be to make sure that you directly get in touch with the issuer and get to know if there are any difficulties that they are facing. If there are issues that need to be sorted out from your end, you can take the necessary measures and help make the process quicker and easier. And if it’s a delay from the bank, you will be updated on that as well.
You're more likely to be approved when you apply for a credit card you're qualified for. It’s best to stick to the credit cards that most fit with your credit profile for the best chances at being approved.

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Disclaimer: This Article is for information purposes only. The views expressed in this Article do not necessarily constitute the views of Kotak Mahindra Bank Ltd. (“Bank”) or its employees. The Bank makes no warranty of any kind with respect to the completeness or accuracy of the material and articles contained in this Article. The information contained in this Article is sourced from empaneled external experts for the benefit of the customers and it does not constitute legal advice from the Bank. The Bank, its directors, employees and the contributors shall not be responsible or liable for any damage or loss resulting from or arising due to reliance on or use of any information contained herein. Tax laws are subject to amendment from time to time. The above information is for general understanding and reference. This is not legal advice or tax advice, and users are advised to consult their tax advisors before making any decision or taking any action.