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

Valued Member

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

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?

Message 1 of 19
18 REPLIES
Established Contributor

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

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

Message 2 of 19
Frequent Contributor

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


boilerette 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?


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

Equifax 787, TransUnion 793, Experian ? FAKO--> Who Cares
Message 3 of 19
Valued Member

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

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. 

Message 4 of 19
Established Contributor

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


boilerette 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. 




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!

Starting Score: TU 723, EQ 708
Current Score: TU 796, EQ 743
Goal Score: TU 800, EQ 800


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Message 5 of 19
Frequent Contributor

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


boilerette 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. 


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 

Equifax 787, TransUnion 793, Experian ? FAKO--> Who Cares
Message 6 of 19
Established Contributor

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


74king wrote:

boilerette 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. 


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 




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. Smiley Happy

Starting Score: TU 723, EQ 708
Current Score: TU 796, EQ 743
Goal Score: TU 800, EQ 800


Take the FICO Fitness Challenge


Starting Score: 708
Current Score: 743
Goal Score: 800


Take the FICO Fitness Challenge
Message 7 of 19
Moderator Emerita

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

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. Smiley Tongue
* 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 8 of 19
Established Contributor

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

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.
Message 9 of 19
Regular Contributor

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

"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


boilerette 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. 


 

Message 10 of 19