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New Contributor
Posts: 55
Registered: ‎11-08-2009
0

7-10 day message usually means a decline?

So i applied for a Visa through my bank on their website and i got the 7-10 message does that usually mean i was declined? Or have people been approved after the 7-10 period?

Starting Score: (1/22/2010) TU 759, Eq 742
Current Score: (6/22/2010) TU 724, Eq 735
Goal Score: (1/01/2011) TU 800, Eq 783


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Super Contributor
Posts: 5,759
Registered: ‎01-28-2008
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Re: 7-10 day message usually means a decline?


IIIII wrote:
So i applied for a Visa through my bank on their website and i got the 7-10 message does that usually mean i was declined? Or have people been approved after the 7-10 period?

Welcome to the forum.   As creditwherecreditisdue always says...recon.   A 7-10 days  message doesn't mean decline. There may be a few things the computer picked that needs a closer look.  

New Contributor
Posts: 55
Registered: ‎11-08-2009
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Re: 7-10 day message usually means a decline?

[ Edited ]

Should i wait the 7-10 days for the letter before calling? Not sure why i wouldnt be approved.

 

 

I have good credit 700+ last time i checked. I already have a Discover More card with a 9500 CL, AmEx Gold and Chase Freedom with 5000 CL. Only balance i have is is on the Discover for 300 that will be PIF when the statement drops. No lates and no baddies.

Message Edited by IIIII on 11-08-2009 08:15 PM

Starting Score: (1/22/2010) TU 759, Eq 742
Current Score: (6/22/2010) TU 724, Eq 735
Goal Score: (1/01/2011) TU 800, Eq 783


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Senior Contributor
Posts: 4,923
Registered: ‎04-19-2009
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Re: 7-10 day message usually means a decline?

You haven't let us know what product you applied for. Regardless it is OK to call.

Super Contributor
Posts: 5,703
Registered: ‎10-06-2007
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Re: 7-10 day message usually means a decline?

I know its hard but I would wait until I received a letter from them.  Can you post which bank you are dealing with so members here who have delt with them can help advise.  Sounds stupid but I might have a friend call your bank and ask them about their policy and how long it takes for an answer and if they offer instant approval.  These days, CCCs sdont need much of a reason to deny credit so I would be stealthy.
11/28/2014 FICO: EQ: 796 EX:788 TU:803
Moderator Emerita
Posts: 28,098
Registered: ‎04-01-2007
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Re: 7-10 day message usually means a decline?

Chase often gives the 7-10 day bit and then approves. Yes, I know some have gotten instant, but many more of us had to do the limbo thing.
* Credit is a wonderful servant, but a terrible master. * Who's the boss --you or your credit?
FICO's: EQ 781 - TU 793 - EX 779 (from PSECU) - Done credit hunting; having fun with credit gardening. - EQ 590 on 5/14/2007
New Contributor
Posts: 55
Registered: ‎11-08-2009
0

Re: 7-10 day message usually means a decline?

Im sorry, its a Visa Platinum from Arvest Bank. I'll give them a call later today.


Starting Score: (1/22/2010) TU 759, Eq 742
Current Score: (6/22/2010) TU 724, Eq 735
Goal Score: (1/01/2011) TU 800, Eq 783


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Super Contributor
Posts: 5,759
Registered: ‎01-28-2008
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Re: 7-10 day message usually means a decline?

Wait for the letter.  No need to call without a decision being made yet.
Valued Member
Posts: 41
Registered: ‎01-23-2008
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Re: 7-10 day message usually means a decline?

Not to be a downer, but out of all the times Ive gotten the "7-10 day message," I've only been approved once.
01/25/10 - TU 709, EQ 729, EX 705
Regular Contributor
Posts: 139
Registered: ‎05-19-2008
0

Re: 7-10 day message usually means a decline?

I received a 7-10 day response when I applied for both my Discover Motiva (recently changed to More) and Chase Slate (each of these apps were in the past month).  I called immediately after receiving the 7-10 day response, and both times the rep said that there had been a decision on the application. 

Both times were initially denied. 

Both times I asked for a recon, gave additional information on why I wanted the card, explained old derogs (3+ years old) and

Both granted limits of $1500.

 

They were each concerned about the amount of recent inquiries....my excuse was that I had cards with other companies, and they just jacked my interest rates even after great usage and payment history - so I've shopped around for new CC lenders.  Seemed to have worked.Smiley Wink

 

Of course YMMV though

 

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