If you are looking to get a new credit card, but you do not have the time to physically visit the bank and pen down an application, you can opt for a better and easier way - online application. Many top banks in Malaysia offer online application facility to its customers.
There are many benefits of online application. Let’s see how it can help you save your time and efforts.
Why Online Credit Card Applications
- Making an online application can save you multiple hours you spend visiting and waiting at a bank’s branch.
- Online application is easy, hassle-free, and the quickest way to get a credit card.
- You can finish the whole procedure in just a few clicks, sitting in the comfort of your own home.
- You do not have to worry about any errors that you can make while writing your application as typing is more hassle-free compared to writing.
- You can also make an online application to get a supplementary credit card.
- It is easier to get instant or fast approval for your request because online applications are submitted faster than manual ones.
- Many banks also provide sign-up offers, gifts, or promotional vouchers when you apply for a credit card online.
How to Apply OnlineThere are 3 ways to apply for a credit card online:
1. Download an application form from the official website of the bank and manually submit it to the nearest branch.
2. Opt for a partial online application in which you are requested to submit a form with your basic personal information and bank details. The bank representatives then call you for the further procedure. In this type, you will be asked to submit the soft or hard copies of essential documents later to the bank.
3. Complete the whole application procedure by going paperless through a bank’s website or via a third-party website like BBazaar Malaysia. The documents needed for the application can be attached directly to the online application form or you can also email or fax them to the bank.
- The earlier you submit the mandatory documents, the sooner your approval process can begin.
- To streamline your approval process, give your valid contact details to the bank so that whenever necessary, the bank representatives can reach you easily.
- If it is necessary, inform the human resources (HR) department of your workplace, so that they can confirm your income, if and when the bank officials call them for confirmation.
What Documents are Required to Make Online Application?
When you apply for a credit card online, you can submit your documents directly through the official website of the bank or you can email or fax them later. You can also visit the bank personally and submit all the valid supporting documents.
Find below the mandatory documents that are required to make a credit card application both online as well as offline.
- Valid identity proof: A local citizen needs to present front and back copies of NRIC or MyKad. If you are a foreigner or expat applying for a credit card in Malaysia, you can provide a copy of your passport.
- Income proof details: As a salaried employee, you need to submit salary slips (for 3 to 6 months, depending on the bank/credit card requirements) along with your application. You may also have to submit your bank statements (for 3 to 6 months). A bank might also ask you to submit an employment confirmation letter (applicable for both Malaysian and expat applicants). You can also provide EPF statements (minimum 3 months) of your account, if a bank accepts the same.
- Form A, Form B or Business Registration Form: You need to submit this if you are a self-employed individual. You need to submit Form A (sole proprietorship), or Form B (partnership), or Form 9, 24, and 29 (company), depending on the bank’s requirement.
- Apart from these documents, a bank may also ask you to submit other supporting documents.
How to Check the Application Status
- Depending on a bank’s policies, a normal credit card application request can take 5 to 15 days to process. Some requests may take longer to process due to many reasons like lack of proper documentation, incomplete application form, credit score assessment, etc.
- However, you can check your application status by calling the customer care department of the bank. Many top banks have exclusive customer service departments for credit cards. You can contact the representatives in these departments and ask the status.
- You can also check your application status from the online banking account of your bank.
- Keep your application request number/receipt handy when you make an enquiry, so that you can conveniently discuss with the bank officials about it.
Applying online can save you a lot of time. However, make sure that you look into the credit card details, including the terms and conditions before signing up for the concerned card.