In today’s digital world, it has become easier than ever to access credit cards. Previously, you had to wait several weeks to have the application approved and the card sent in the post. The application process is now much faster, and in some cases you can actually use the credit card on the day.
How to get a credit card on the day
When you apply for a credit card, the bank must process the application, carry out a credit check and then send you the physical credit card. Therefore, it is not possible to use the physical card on the same day. But since certain banks offer digital versions of their cards, in some cases you will be able to take advantage of the credit card already on the same day.
Several banks use automatic processes to assess the application for the credit card. If you meet all the bank’s criteria, you can have your application approved within a few hours. You will then be able to get a virtual card that you can connect to a digital wallet, such as Apple Pay or Google Wallet, and use the card on the same day.
You will find all the information on how to apply for a credit card on the day here.
Be aware of credit costs
It is important to be aware that owning a credit card can be expensive if you do not pay by the due date. Most credit cards have an interest-free period, which is a period during which the loan is completely free. Interest will then start to accrue on the loan, which can grow to large amounts if you do not repay it quickly.
We only recommend that you get a credit card if you have good control over your finances and can service the loan amount.
Credit cards that offer digital versions
If you want to be able to get a credit card on the day, you will have to apply for a card from a bank that offers digital copies. This is becoming more and more common, so there are many good options to choose from. Below you see three credit cards you can get on the day, if the application process goes smoothly:
1. Bank Norwegian
Bank Norwegian is known for providing quick responses to credit card applications. If you receive the credit card on the same day, you can already start taking advantage of the card’s benefits and bonus points. The card gives cashback (money back) on all purchases and comes with good travel and cancellation insurance.
Price example: Effective interest rate 24.4%, NOK 15,000 over 12 months. Cost: NOK 1,849. Total: NOK 16,849.
2. Morrow Bank Mastercard
Morrow Bank also offers virtual versions of its Morrow Bank Mastercard credit card. With the card, you get a 2% bonus on all online shopping, which you get if you use the virtual card. In addition, you can use it to pay for travel, where you get free travel insurance and ID theft insurance with the purchase.
Price example: Effective interest rate 28.77%, NOK 12,000 o/12 months. Cost NOK 1,726. A total of NOK 13,726.
3. re:member Black
If you plan to buy something online, you will be able to make a lot of money by ordering the re:member black credit card in advance. The card gives access to the re:member rewards program, where you get up to a 25% discount on selected products and goods in more than 200 stores. You will be able to use the card digitally, which means that it is possible to get the credit card on the day.
Price example: Eff. interest rate 30.33%, NOK 15,000 over 12 months. Cost NOK 1,717. A total of NOK 16,717.
This is the application process
To speed up the process, it pays to apply for the credit card directly on the bank’s website. In addition, it is important to fill in all information correctly, so that the bank does not need to obtain more information.
Here’s how to get a credit card on the day:
1. Choose a credit card with virtual cards: If you need the credit card immediately, you must apply for a credit card that is also given virtually. This includes the three cards mentioned above.
2. Go to the application form: Click through to the credit card issuer’s website and find the application form for the card.
3. Fill in all the information: In the form, you must fill in information about you and your financial situation. Be careful that everything is filled in correctly, so that the bank does not need to ask for additional information. You then submit the application.
4. Get a digital card: If your application is approved, you will receive a digital version that allows you to use the credit card immediately. This digital version can be used for online shopping, payments via mobile or other digital services that support contactless payments.
5. Receive the physical credit card: In the meantime, the physical card will be sent to you in the post. Depending on the bank and location, it takes from a few working days to a couple of weeks before the card is in the mailbox.
This is how you increase the chance of getting the credit card quickly
All banks and credit card companies in Norway are required by law to carry out one credit rating of you before they offer a credit card. This involves a check of your income and credit score, which is a number that represents your creditworthiness. If you have a low credit score, it is unlikely that you will receive a credit card on the day.
To increase the chance of getting a credit card as early as possible, you should read the bank’s requirements and conditions in advance. Make sure you meet the requirements and apply for a line of credit that matches your ability to pay. No bank approves applicants with payment notes, so these must be removed before you start the application.
Use the credit the same day you receive the card
There can be several reasons why you want a credit card on the day. If, for example, you want to book a trip, there are several cards that provide free insurance if parts of the trip are paid for with the card. If you use a regular debit card, you may have to pay for insurance separately.
By getting a credit card on the day, you can:
● Take advantage of the benefits immediately: The digital versions of the credit card include the same benefits, whether it’s travel insurance, discounts or other bonuses. If you receive the credit card on the same day, you benefit from these benefits straight away.
● Quick access to credit: If you need a short-term loan, you will be able to use the credit from the credit card before the physical card arrives.
● Simple payment: The digital card can be inserted into digital wallets such as Apple Pay and Google Walletwhich means that you can easily start paying from your mobile.
How to choose the right credit card?
Although it can be tempting to choose a credit card that you can get on the day, it pays to apply for a card that gives you the biggest benefits. Which card is best for you depends on your needs and buying habits. These are factors you should take into account:
● Fees: Look for credit cards with no annual fee or other hidden fees, especially if you don’t plan to use the card often. This can save you from unnecessary costs. If you travel often, it’s a good idea to look for a card with a low currency surcharge and low fees for cash withdrawals.
● Interest: Choose a credit card with a low effective interest rate, especially if you don’t pay off the balance in full each month. This will reduce interest costs over time.
● Interest-free period: If you want more time to repay what you borrow, it is wise to look for a card with a longer interest-free period. Usually this period varies from 30 to 50 days.
● Benefits and bonuses: Choose a card that offers benefits such as cashback, discounts or travel points that suit your buying habits. This can give you extra value for every penny you spend.
Ready to apply for a credit card?
Getting a credit card on the day is a simple and practical solution for those who need quick access to credit. With modern technology, you can start using a digital card the same day the application is approved, while you wait for the physical card to arrive. Credit cards such as Bank Norwegian, Morrow Bank Mastercard and re:member black are good options if you want a credit card immediately.