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Frequent Contributor
L-TWT
Posts: 330
Registered: ‎12-18-2011
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Why is Cap1 so slow in processing CC apps?

Apped for the Cap1 cash rewards card on 11/15 via online, not instantly approved, rec'd 7-10 message. Called 11/20 to get update on status, CSR informed app approved but acct not generated yet and unable to provide any info, **bleep**!.....Informed generation of acct, CL & rate will take another 7-10 business days? I have never heard of anything of the sorts, patience is a virtual i do not possess. Is this process from Cap1 common?

Portfolio: Citi DC, Amex BCP, Cap 1 QS

"Having a credit card is nice, but cash is king"
Valued Contributor
daybreakgonesXe
Posts: 1,854
Registered: ‎11-17-2012
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Re: Why is Cap1 so slow in processing CC apps?

On the forums it seems to be for some people...looks like they're doing everything manually for you! Not just for the approval, but actually building your card! I applied for Sapphire 11/15, got the two weeks message, and finally got a response two days ago. (well, not a response...i logged into my chase account and voila! there it was!) Still waiting on the card...argh! But don't worry, it'll come soon enough :smileyhappy:

Capital One Quicksilver World Mastercard $10k | JCPenney Platinum $7.5k | Shell Drive for Five $800 | Chase Freedom Visa Signature $9.8k | TD Bank Easy Rewards Visa Signature $5k | Chase Sapphire Visa Signature $10k | American Express Blue Sky $25k | Discover IT $9.5k | SavingStar American Express $14.8k

EQ FICO 708 TU FICO 747 Credit Karma (TU) 771 Transrisk 783/990 Credit Sesame (EX) 754 Credit.com (EX) 753 VantageScore 3.0 712
Frequent Contributor
L-TWT
Posts: 330
Registered: ‎12-18-2011
0

Re: Why is Cap1 so slow in processing CC apps?


daybreakgonesXe wrote:

On the forums it seems to be for some people...looks like they're doing everything manually for you! Not just for the approval, but actually building your card! I applied for Sapphire 11/15, got the two weeks message, and finally got a response two days ago. (well, not a response...i logged into my chase account and voila! there it was!) Still waiting on the card...argh! But don't worry, it'll come soon enough :smileyhappy:


Thx....i know it will come, i'm not just not a patient individual, nor use to waiting! Also, my main urgency is that i'm heading overseas and wanted a CC with no FTF. I honestly think the "cave men" that they show in the venture card commercials r making it by hand and when their done, will drive it over in "fred from the flintstones" vehicle!:smileylol:

Portfolio: Citi DC, Amex BCP, Cap 1 QS

"Having a credit card is nice, but cash is king"
Valued Contributor
beb86
Posts: 1,117
Registered: ‎10-31-2011
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Re: Why is Cap1 so slow in processing CC apps?


L-TWT wrote:

Apped for the Cap1 cash rewards card on 11/15 via online, not instantly approved, rec'd 7-10 message. Called 11/20 to get update on status, CSR informed app approved but acct not generated yet and unable to provide any info, **bleep**!.....Informed generation of acct, CL & rate will take another 7-10 business days? I have never heard of anything of the sorts, patience is a virtual i do not possess. Is this process from Cap1 common?


UHH because the have to pull from all three CRAs haha

ccpics2.jpg
Valued Contributor
daybreakgonesXe
Posts: 1,854
Registered: ‎11-17-2012
0

Re: Why is Cap1 so slow in processing CC apps?

Join the club! I was so itchy for 5 days waiting for the approval! It wasn't my ideal card, just thought I'd give it a whirl because I thought I would be going on vacation. I could've called a CSR but I didn't care one way or another if it would go through, because then I could've gardened up to a Capital One VentureOne. Those further reviews kill you! The only other time I didn't get an instant approval was for my TD Bank credit card because they don't give you instant approvals. At all. I checked the mailbox every day and was SO HAPPY when I felt that nice heavy envelope!

 

Since you're heading overseas, call every day to check on the status of the card. As soon as they finish "building" it, you can probably get it overnighted so you can potentially have it in time! :smileyhappy:

Capital One Quicksilver World Mastercard $10k | JCPenney Platinum $7.5k | Shell Drive for Five $800 | Chase Freedom Visa Signature $9.8k | TD Bank Easy Rewards Visa Signature $5k | Chase Sapphire Visa Signature $10k | American Express Blue Sky $25k | Discover IT $9.5k | SavingStar American Express $14.8k

EQ FICO 708 TU FICO 747 Credit Karma (TU) 771 Transrisk 783/990 Credit Sesame (EX) 754 Credit.com (EX) 753 VantageScore 3.0 712
Frequent Contributor
L-TWT
Posts: 330
Registered: ‎12-18-2011
0

Re: Why is Cap1 so slow in processing CC apps?


beb86 wrote:

L-TWT wrote:

Apped for the Cap1 cash rewards card on 11/15 via online, not instantly approved, rec'd 7-10 message. Called 11/20 to get update on status, CSR informed app approved but acct not generated yet and unable to provide any info, **bleep**!.....Informed generation of acct, CL & rate will take another 7-10 business days? I have never heard of anything of the sorts, patience is a virtual i do not possess. Is this process from Cap1 common?


UHH because the have to pull from all three CRAs haha


I'm really not too conerned about a creditor pulling all 3 bureau's, actually i think that is a good way to gauge an individuals credit history. 

Portfolio: Citi DC, Amex BCP, Cap 1 QS

"Having a credit card is nice, but cash is king"
Valued Contributor
beb86
Posts: 1,117
Registered: ‎10-31-2011
0

Re: Why is Cap1 so slow in processing CC apps?

I think you misunderstood my post. the question was why cap1 takes so long and I meant the fact that the have to pull all three as a joke....my humor needs some work I know :smileytongue:

ccpics2.jpg
Frequent Contributor
L-TWT
Posts: 330
Registered: ‎12-18-2011
0

Re: Why is Cap1 so slow in processing CC apps?

UPDATE!

Sumitted app online 11/15

App approved on 11/20

Rec'd "Terms & Conditions" Disclosure in the mail on 11/24-CL=10000, APR=16.9% and they provided a "FAKO" credit score only from TU, which was 761

Card will be mailed out w/i 2-3 weeks, speechless!!!

Portfolio: Citi DC, Amex BCP, Cap 1 QS

"Having a credit card is nice, but cash is king"
Valued Contributor
trumpet-205
Posts: 2,494
Registered: ‎11-11-2010
0

Re: Why is Cap1 so slow in processing CC apps?


L-TWT wrote:

UPDATE!

Sumitted app online 11/15

App approved on 11/20

Rec'd "Terms & Conditions" Disclosure in the mail on 11/24-CL=10000, APR=16.9% and they provided a "FAKO" credit score only from TU, which was 761

Card will be mailed out w/i 2-3 weeks, speechless!!!


That means Capital One like Chase, begins to use score other than FICO to make credit card decision.

 

In My Wallet:
Citi Forward (12/2010) | Citi Dividend (05/2011) | Chase Freedom (11/2011) | GECRB/PayPal (05/2012)
Discover it (07/2012) | AMEX BCP (09/2012) | TD/Target REDCard (10/2012) | Chase Ink Classic (11/2012)
BofA BBR (04/2013) | FNBO/Overstock.com (02/2014) | Barclaycard Arrival (04/2014) | FIA/Fidelity AMEX (04/2014)
Frequent Contributor
L-TWT
Posts: 330
Registered: ‎12-18-2011
0

Re: Why is Cap1 so slow in processing CC apps?


L-TWT wrote:

UPDATE!

Sumitted app online 11/15

App approved on 11/20

Rec'd "Terms & Conditions" Disclosure in the mail on 11/24-CL=10000, APR=16.9% and they provided a "FAKO" credit score only from TU, which was 761

Card will be mailed out w/i 2-3 weeks, speechless!!!


I stand corrected, it appears the score provided VIA Transunion is an offical FICO vs-FAKO score

 

Name of Score: TRANSUNION/FICO CLASSIC (04)

 Range 309-839

 

like most lenders they have not upgraded to using the FICO 08'

Portfolio: Citi DC, Amex BCP, Cap 1 QS

"Having a credit card is nice, but cash is king"

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