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Someone describe apping in branch vs online?

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Anonymous
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Someone describe apping in branch vs online?

I know it is said that benefits may exist when apping in branch verses online for credit cards.  Some say that there are sometimes better sign on bonuses if you apply in branch.  Some say approval odds are slightly better in branch and/or that your prior relationship with the bank can positively impact an in-branch application.  Some say that when you apply in branch you may receive pre-qualified offers that you wouldn't otherwise see.  I'm sure there are other reasons as well.

 

I've never applied for a CC in branch, so I'm curious how the process works.  When applying online, I like that I'm in the driver's seat in terms of entering in my information and I'm in control of the process.  I don't know how I'd feel sitting across a desk from someone in branch and telling them my info as they enter it in.  For those that have applied both in branch for CCs verses online, can you describe the differences you experienced and if you have any opinions as to why one is "better" or "worse" than the other from your perspective, outside of the possible benefits I already listed above?

14 REPLIES 14
Anonymous
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Re: Someone describe apping in branch vs online?

it's a very similar process to opening a bank account at a new bank:

 

1. walk into the bank and ask to speak with a banker about opening a new account (which you are, it's just a credit account this time)

2. sit down with the banker and give all the same info verbally you would otherwise input on a website

3. get an answer in about the same timeframe as online

 

here is where the process can differ, though:

 

4. in the event of a decline or approval for less-than-desired limit, if the banker likes what they see on your existing accounts they can in some cases pick up the phone and ask for a recon righ then and there on your behalf - and believe me when I tell you that someone working for the bank has a bit more clout with underwriting than if you recon yourself.

 

Good Luck!

Message 2 of 15
Anonymous
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Re: Someone describe apping in branch vs online?

Thanks for the reply.  In that recon scenario you just gave when sitting in branch across the desk from the banker that just told you your application result... in the event of an approval for a lower than desired limit would that recon typically be a HP the same way it would if you were to recon it yourself after applying online, or is there a greater chance it would not be because the banker has that degree of "pull" when he's picking up the phone on your behalf?

Message 3 of 15
Anonymous
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Re: Someone describe apping in branch vs online?


@Anonymous wrote:

it's a very similar process to opening a bank account at a new bank:

 

1. walk into the bank and ask to speak with a banker about opening a new account (which you are, it's just a credit account this time)

2. sit down with the banker and give all the same info verbally you would otherwise input on a website

3. get an answer in about the same timeframe as online

 

here is where the process can differ, though:

 

4. in the event of a decline or approval for less-than-desired limit, if the banker likes what they see on your existing accounts they can in some cases pick up the phone and ask for a recon righ then and there on your behalf - and believe me when I tell you that someone working for the bank has a bit more clout with underwriting than if you recon yourself.

 

Good Luck!


This is why, when I go looking for my Visa in the fall, if I choose to try Penfed, BoA or NFCU, I'll most likely go directly to a branch to apply in person. I'll be counting particularly on #4 since the banker will have talked face-to-face with me and will have more authority/clout/incentive to try to close the deal and get me approved for an account. It also helps that I have longstanding relationships with both Penfed (currently have an open auto loan in good standing with them) and BoA (though I did burn BoA in my bankruptcy on a second mortgage, so that might hurt my chances if I apply there). I'm looking to see if I can apply for a CC at the same time I apply to join NFCU or whether I'll have to wait; in either case, if I join NFCU (after joining NLUS - San Diego), I plan to take my documents down to the nearest branch.

 

In point of fact, I got my Penfed used-car loan by going down to the nearest branch and applying in person (I had actually started an online application but not yet completed it, so the banker had the information on her computer screen). It may have helped that I also had a fairly sizable cash deposit to make into my share account. Smiley Wink

Message 4 of 15
Anonymous
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Re: Someone describe apping in branch vs online?

BB&T branch managers can help if you are borderline on approval but will only assist if you applied in branch

First National Bank of Omaha (and their subsidiaries FNB Freemont, FNB Colorado, FNB Southwest) does not have an online preapproval site but they do have preapprovals in branch
Message 5 of 15
Anonymous
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Re: Someone describe apping in branch vs online?

Another newbie question here, when you apply in-branch does the person you are sitting down with use the same exact application screen that you'd use at home applying online, or do they have some sort of internal application that they use instead since it's being filled out by an employee of the bank you're applying for a card with?

Message 6 of 15
Anonymous
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Re: Someone describe apping in branch vs online?


@Anonymous wrote:

Thanks for the reply.  In that recon scenario you just gave when sitting in branch across the desk from the banker that just told you your application result... in the event of an approval for a lower than desired limit would that recon typically be a HP the same way it would if you were to recon it yourself after applying online, or is there a greater chance it would not be because the banker has that degree of "pull" when he's picking up the phone on your behalf?


The answer is going to vary by institution - however the assumption 'in general', is that the initial app and the call to U/W are all part of the same application for credit, so only one pull should be used.

 

YMMV

Message 7 of 15
Anonymous
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Re: Someone describe apping in branch vs online?

If you get approved in-branch for a SL of X but desire a SL > X and ask the person that submitted your app to phone in a request to recon the SL, will that always result in another HP the same way it would if you did so after applying online yourself, or are there instances of avoiding another HP since it's the bank calling on your behalf?

Message 8 of 15
Anonymous
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Re: Someone describe apping in branch vs online?


@Anonymous wrote:

Another newbie question here, when you apply in-branch does the person you are sitting down with use the same exact application screen that you'd use at home applying online, or do they have some sort of internal application that they use instead since it's being filled out by an employee of the bank you're applying for a card with?


When I went to Penfed in February, the banker I sat down with to complete my auto loan appeared to be using an in-house/internal application. It was kind of antique-looking (but - hopefully!!!! - was all up-to-date internally), all text, no pretty graphics Smiley Tongue Banks are odd that way; I know, for example, that for quite a few years many banks, including BoA, continued to use OS/2 and its successor eComStation for internal applications long after it'd completely died as a consumer OS.

Message 9 of 15
Anonymous
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Re: Someone describe apping in branch vs online?

As long as the results are as favorable or potentially more favorable when applying in branch, they can use smoke signals to send the app in for all I care 😉.

I'm just trying to make a determination personally if I should apply for a card in branch or online. I've only ever applied online before, so dealing with a human is a little out of my comfort zone.
Message 10 of 15
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