cancel
Showing results for 
Search instead for 
Did you mean: 

Applications

Frequent Contributor

Applications

do they pull just your score right away. If it is high enough they will approve?  If it's too low you get the 30 day message?  I mean when you do a app online they can't really look at you credit report that fast.  I know it is automatic.
4 REPLIES
Moderator Emeritus

Re: Applications



laryn41 wrote:
do they pull just your score right away. If it is high enough they will approve?  If it's too low you get the 30 day message?  I mean when you do a app online they can't really look at you credit report that fast.  I know it is automatic.


 
Some do some don't.  If they advertise 60 second approval they do BUT a 30 day message doesn't mean decline, they usually don't have a problem with that right off the bat either.  They don't look at your reports per se, they cmpare your scores to their cutoff and if you're boderline you will get the 30 day message or if anything else shows up llike too many inquiries. Its usually then that they actually eyeball your reports.

Senior Contributor

Re: Applications

Auto yes is for someone with some history, no negs, and specific items met. Like income of $18k, 0% utl, perfect credit and super low available credit. But other times like I just had, please wait 4 week by mail, just might mean the system is down, backed up, ect. I was approved today on a wait message.

And believe it or not, there might be a person sitting on a computer over seas looking at your credit app the moment you click submit.

It depends on the bank, some banks use notified by mail as denied, some mean we need time to get to your app. No way to really answer this unless you choose a specific bank. :-) Then we can only tell you what our experiences were with that bank.
If we never set higher goals we would never get as far.
sol, credit 101, acr, abbreviations, calc
Moderator Emeritus

Re: Applications

Getting a little cocky with that new WaMu already huh Pizza? Smiley Very Happy
Valued Contributor

Re: Applications



Brammy wrote:
Getting a little cocky with that new WaMu already huh Pizza? Smiley Very Happy


lmao