I have a score of 810, why does my application require "further investigation"?

[Anonymous]

I have a score of 810, why does my application require "further investigation"?

I have NEVER NOT been given on-the-spot credit approval.  I have a regular plain-old CC with my credit union.  They are offering an attractive cash rewards card for which I applied.

They said "unfortunately we cannot give you an immediate approval, your application will require further review and you'll hear from us in 5-10 business days."

WTHO?

Is this normal now adays?

[Anonymous]

Fairly normal, yes.  Your score is high but it won't be judged on just that.

Say you have multiple cards which you don't really use (or PIF) and have a total of even $30,000 available with only a balance of $500 on one card - you have $25,500 of available credit which tomorrow you could go out and blow - if your income is on the lowish side you may then have an issue repaying that.  If you don't have a long history they can't judge what you will do.  If you only have one card that you never use or use rarely then they won't know what your payments would be like with more than one card, if you have high balances elsewhere or your behaviour has changed recently, if you have applied for a lot of credit recently, or taken out a mortgage. - yada yada.

There are other things they will look at other than just your scores. It's difficult to say without knowing your full history and chances are they will approve you but just want income verification or to check a couple of things out... you can always call them and ask what they are having to check

[Anonymous]

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@Anonymous wrote:

I have a score of 810, why does my application require "further investigation"?

I have NEVER NOT been given on-the-spot credit approval.  I have a regular plain-old CC with my credit union.  They are offering an attractive cash rewards card for which I applied.

They said "unfortunately we cannot give you an immediate approval, your application will require further review and you'll hear from us in 5-10 business days."

WTHO?

Is this normal now adays?

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Basically what you have is a LIMITED history that's why that message came up. I would think if your single card with the CU is ok and you have some history on it then you should be approved. The question will be is for how much? But in any case....good luck

King

[Anonymous]

I have 15+ years of credit history.  I've owned, had mortgages on, and sold two homes, 3 cars, and several credit cards (all closed in good standing).  I have 2 open CCs now with 96% available credit and a small car loan.  My debt-to-income ratio is a whopping 8% (because of the car).  I live in my new hubby's house and pay no rent or mortgage.

I am fixing to call them (as it's still pending) and tell them to forget about it. 

[Uniqua]

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@Anonymous wrote:

I have 15+ years of credit history.  I've owned, had mortgages on, and sold two homes, 3 cars, and several credit cards (all closed in good standing).  I have 2 open CCs now with 96% available credit and a small car loan.  My debt-to-income ratio is a whopping 8% (because of the car).  I live in my new hubby's house and pay no rent or mortgage.

I am fixing to call them (as it's still pending) and tell them to forget about it. 

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Why the harsh move? Some CUs do manual reviews. Perhaps something on your CR triggered a manual review. Just be patient and wait for the decision; and if you get denied, you can surely recon at that time. But, there's no need to get antsy right now. An excellent credit SCORE doesn't necessarily equal an excellent credit REPORT. Patience is a virtue. Best of luck!

[Anonymous]

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@Anonymous wrote:

I have 15+ years of credit history.  I've owned, had mortgages on, and sold two homes, 3 cars, and several credit cards (all closed in good standing).  I have 2 open CCs now with 96% available credit and a small car loan.  My debt-to-income ratio is a whopping 8% (because of the car).  I live in my new hubby's house and pay no rent or mortgage.

I am fixing to call them (as it's still pending) and tell them to forget about it. 

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Now that i have had my head CUT off by your comments about your 15 plus years of credit history of which you should have stated you had in the beginning before asking questions about credit.

No one can give you a full assessment without better details that's something for you to remember in the future. You stated you had 1 CU card open with a 810 FICO no one knows anything more then that. 

I gave you my best answer based on what you provided in your original question.

King 

[Uniqua]

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@Anonymous wrote:

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@Anonymous wrote:

I have 15+ years of credit history.  I've owned, had mortgages on, and sold two homes, 3 cars, and several credit cards (all closed in good standing).  I have 2 open CCs now with 96% available credit and a small car loan.  My debt-to-income ratio is a whopping 8% (because of the car).  I live in my new hubby's house and pay no rent or mortgage.

I am fixing to call them (as it's still pending) and tell them to forget about it. 

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Now that i have had my head CUT off by your comments about your 15 plus years of credit history of which you should have stated you had in the beginning before asking questions about credit.

No one can give you a full assessment without better details that's something for you to remember in the future. You stated you had 1 CU card open with a 810 FICO no one knows anything more then that. 

I gave you my best answer based on what you provided in your original question.

King 

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Now, now. I don't think boilerette was trying to cut your head off. At least I didn't take it that way. Don't take offense. You gave a good response. Much appreciated.

[haulingthescoreup]

Hey, everyone, please be kind to the new members!

It takes a while to learn what is needed to be shared on a post to get help.

We were all new here once. I was too, 20K+ posts ago.

[Anonymous]

I once got a "pending" because I didn't type my employer's name exactly as it was written on my credit report. Sometimes it's completely harmless points that cause delays in approvals.

[CHARGE_IT]

"New hubby, new home" ? Could that include a new name and or address ? These are two obvious reasons you might need to offer additional information for the bank.

A good score, but it is not all about the score. I hope that doesn't bother you. Btw, sad about hubby. (King too)

CI

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@Anonymous wrote:

I have 15+ years of credit history.  I've owned, had mortgages on, and sold two homes, 3 cars, and several credit cards (all closed in good standing).  I have 2 open CCs now with 96% available credit and a small car loan.  My debt-to-income ratio is a whopping 8% (because of the car).  I live in my new hubby's house and pay no rent or mortgage.

I am fixing to call them (as it's still pending) and tell them to forget about it. 

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