topic Re: Victoria Secret Approved or Denied?? in Credit Card Approvals

Victoria Secret Approved or Denied??

Anonymous — Sun, 19 Oct 2014 18:50:35 GMT

How long does it take to know if you are approved or denied for the card. I applied a little over a month now, and yet to have heard anything. I was sure i was denied but when i never received my denial letter i decided to call and ask where and when i would receive it. They told me it was still processing, and for me to wait 30 days from the day i applied. So its been more than a month and nothing. Is this normal???

Re: Victoria Secret Approved or Denied??

FinStar — Sun, 19 Oct 2014 19:25:25 GMT

Some of them can take a while depending on the verification that is needed. I experienced the same scenario with my Abercrombie & Fitch CC several years ago. I recall submitting the application around the middle of November and eventually getting approved around the first week of December.

Re: Victoria Secret Approved or Denied??

Anonymous — Sun, 19 Oct 2014 19:52:15 GMT

Oh, would it be best to call and in quire or will they mail it out to me.

Re: Victoria Secret Approved or Denied??

FinStar — Sun, 19 Oct 2014 19:55:20 GMT

I would say to contact them and see if they could connect you through their new accounts department or their Accounts Protection department. Optionally, there is a list of backdoor numbers that could probably assist with this process (located in the backdoor sticky thread).

Re: Victoria Secret Approved or Denied??

DeadlyPersona — Sun, 19 Oct 2014 20:00:49 GMT

I was approved with Victoria's Secret within seconds via the shopping cart trick (SP) but if I were you, I would contact their credit card application department.

Re: Victoria Secret Approved or Denied??

pipeguy — Mon, 20 Oct 2014 02:57:14 GMT

In general, accounts offered by Comenity Bank (Alliance Data Retail Services) either instantly approve or decline and say you'll get a letter or we are still "processing". This is a big company and based on their bio they service 125 retail cards - it's ALL done by computer:

FICO Score acceptible (yes/no)

Stated Income acceptable (yes/no)

Key data points on credit report (plus or minus) - Home ownership, time at present job, BK, Repo, Foreclosure, number of 30/60/90 late, age of lates, charge offs, etc

X score and over = approved

X score and below = decline and "we'll send you a letter in 7-10 days"

Approved X (times) another score (income less expenses times value of X score) = starting credit limit.

In addition the formula takes into account how "easy" the account is, such as VS and Express store cards are known to approve easier than say a Visa/MC such as Total Rewards Visa.

On a "wholesale" level the store/business determines what levels are acceptible for their account such as starting credit limits, FICO and over all scoring, etc. Which is why J. Crew is easier to get then say Mens Warehouse (just an example).

This is a very (!) simple look at how the computer does instant approvals and is not inclusive of all the factors used, but it should help in understanding why instant approvals take 30 seconds and generally unless you follow up by calling, anything not instantly approved is "denied" with a letter. I'm speaking about Comenity and probably GE/Sync type accounts and not your local bank, Credit Union or national banks like Chase or Citi or Barclays where the auto-approval is the same, but there are direct lender credit representatives that you can talk to for reconsideration of the computer generated results.

edit =typos

Re: Victoria Secret Approved or Denied??

FinStar — Mon, 20 Oct 2014 02:52:53 GMT

@pipeguy wrote:
In general, accounts offered by comenity Bank (Alliance Data Retail Services) either instantly approve or decline and say you'll get a letter or we are still "processing". this is a big company and based on their bio they service 125 retail cards - it's ALL done by computer:

FICO Score acceptible (yes/no)
Stated Income acceptable (yes/no)
Key data points on credit report (plus or minus) - Home ownership, time at present job, BK, Repo, Foreclosure, number of 30/60/90 late, age of lates, charge offs, etc

X score and over = approved
X score and below = decline and "we'll send you a letter in 7-10 days"

Approved X (times) another score (income less expenses times value of X score) = starting credit limit.

In addition the formula takes into account how "easy" the account is, such as VS and Express store cards are known to approve easier than say a Visa/MC such as Total Rewards Visa.

On a "wholesale" level they store/business determines what levels are acceptible for their account such as starting credit limits, FICO and over all scoring, etc. Which is why J. Crew is easier to get the say Mens Warehouse (just an example).

This is a very (!) simple look at how the computer does instant approvals and is not inclusive of all the factors used, but it should help in understanding why instant approvals take 30 seconds and generally unless you follow up by calling, anything not instantly approved is "denied" with a letter. I'm speaking adout Comenity and probably GE/Sync type accounts and not your local back, Credit Union or national banks like Chase or Citi or Barclays where the auto-approval is the same, but there are direct lender credit representatives that you can talk to for reconsideration of the computer generated results.

Additionally, specific applications can fall in the "further processing" state where it queues into review by each respective new accounts department. These tend to be approved if all points of verification protocols = yes.