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Capital 1 application response

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Anonymous
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Capital 1 application response

Hello all, this is my first post on myfico.com. Glad to know there's a place to get honest and helpful answers. I just applied for a Capital 1 no hassle cash rewards card, after applying it told me that I would get a response via mail within 7-10 business days. Does that mean I was declined? What happen to the 60 second approval? I have fair credit with scores from all 3 bureaus in the low-mid 600's and no fear the worse.
Message 1 of 7
6 REPLIES 6
SmartCookie
Valued Contributor

Re: Capital 1 application response



wrekonize wrote:
Hello all, this is my first post on myfico.com. Glad to know there's a place to get honest and helpful answers. I just applied for a Capital 1 no hassle cash rewards card, after applying it told me that I would get a response via mail within 7-10 business days. Does that mean I was declined? What happen to the 60 second approval? I have fair credit with scores from all 3 bureaus in the low-mid 600's and no fear the worse.


Welcome aboard!
 
I can't stand that feeling of applying with a CC that has the instant online approval and getting that message.  I think we are all horrified and certain we got declined.  Sometimes though they need to contact you to verify something, and sometimes their connection with the CRA is not functioning at the moment... so you don't get that great 'approved' screen.  Let down.  Smiley Indifferent
 
With mid 600 scores, as long as you don't have a bunch of unpaid derogs/collections, you should be just fine.  The card comes fast .... and if you can't wait... call to check on the status of your application just to put your mind at ease.  
 
Did you apply on a pre-approved offer?  That would be even more encouraging that you are approved.
EQ 787 EX 781 TU 737 11/17/07 *** I am not an attorney. If I was, I might not clip coupons. If you want legal advice, consult an attorney. If you want my personal opinion, feel free to consider my posts***
Message 2 of 7
Anonymous
Not applicable

Re: Capital 1 application response

I app'd for the same card last week and got the same response.
A day later a rep called and asked for my HHI and I think my b-day--I can't remember.
A day after that I called their number and the automated response said I was approved and that I should receive my card by Nov.14.
I think they just want to verify you are who you say you are.
They should be calling pretty soon I would think.
Message 3 of 7
haulingthescoreup
Moderator Emerita

Re: Capital 1 application response


@Anonymous wrote:
I have fair credit with scores from all 3 bureaus in the low-mid 600's and no fear the worse.


Good luck on your app! The posts sound encouraging. I did want to check with you on where you got your scores. Did you pull them from FICO (this site), for all three bureaus? Or did you get your scores directly from each bureau? Around here, those are termed "FAKO's."

I * think * that the score that you would get directly from Equifax would be a FICO, but the scores from the other two sites are not. Almost all lenders use FICO scores, so if you plan to keep growing your credit, make sure you know what your FICO's are. Additionally, there is a lot of advice that comes with FAKO's on credit improvement that is actually detrimental to your real scores (FICO's.)

Some people's FICO's are lower than their FAKO's, but many people's FICO's are higher.

Welcome to the forums!
* 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
Message 4 of 7
Anonymous
Not applicable

Re: Capital 1 application response

I did get a pre-approved offer, I guess I just have to wait and hear from them. Wish me luck!
Message 5 of 7
Anonymous
Not applicable

Re: Capital 1 application response

wrek
 
You can still call to ck the status even if you did a pre-app. I did that for my first card.
Message 6 of 7
Anonymous
Not applicable

Re: Capital 1 application response

Cap One usually doesn't give 60 second responses on personals even though it says so online.  That's why it says if the system is avail you will receive an instant response. Got the same message and the 7-10 turned into 30 but was approved. Think they manually review everything.  I received the instant response on my biz card with no limit or anything.  It said approved, you will receive your limit and more info in 7-10 days that holds true for 1k or 25k from all I've read.  When I called in got the standard 'Your application is being reviewed' even on the biz card.
Message 7 of 7
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