topic Re: Capital One “Pending Status” 7 to 10 days? in Credit Card Applications

Capital One “Pending Status” 7 to 10 days?

Anonymous — Tue, 09 Oct 2018 15:09:55 GMT

Hello Everyone. Hope you all can shed some light. I applied online last night for a Capital One Savor based on the “pre-qual” I filled out on their website and a Credit Karma recommendation. I received the typical “7 to 10 day” message we all know about. I know sometimes they need to verify info such as identity, residency, income, etc, so I called today to check the status and the representative said the application was still processing/pending and that I would receive a live call in 1 to 2 days fro Cap One, for sure. Has anyone had this happen? Did I call too soon? Maybe the application didn’t have enough time to get to an underwriter since I applied at midnight last night and called to confirm at 930am this morning? When I got my Chase Freedom Unlimited I got the 7 to 10 day message also, but called the next day and was approved instantly after answering a few questions for $6.8k. FYI I also applied for two different credit cards in the last 30 days (Amex Cash Magnet- Approved instantly for $11.8k and Discover approved instantly for $4.5k) so maybe too many cards in a month and they want to check for fraud? I received a triple pull for this application last night!!! Geeeez! My score at time of Cap One app last night was TU- 766 EQ- 766 Experian 752. Credit history 1-3 years. Utilization 4%. Soooo, should I wait the day or two to hear back, or call back in a few hours and check again? Appreciate any insight or similar stories that are recent. Thanks so much. My fingers are crossed. I really want the card. I dine out all the time and spend way too much money on groceries.

Thanks

Marky Mark NYC

Re: Capital One “Pending Status” 7 to 10 days?

FinStar — Tue, 09 Oct 2018 17:05:32 GMT

OP, I think you're overthinking this. Just let the process run its course with your application. The 7-10 day processing message can go in either direction. Unless you received a letter or they contacted you requesting additional information, then just be patient.

There's anecdotal evidence that shows even individuals having pre-qualified offers being declined.

Re: Capital One “Pending Status” 7 to 10 days?

Anonymous — Tue, 09 Oct 2018 17:08:09 GMT

Very true on al points. And yes, denial is a possibility. Darn credit game! Drives me crazy. Haha. Thank you for your taking the time to reply. Much appreciated

M

Re: Capital One “Pending Status” 7 to 10 days?

FinStar — Tue, 09 Oct 2018 17:09:35 GMT

Anytime, and welcome to the forums btw.

Hopefully, it'll yield a good outcome for you.

Re: Capital One “Pending Status” 7 to 10 days?

Anonymous — Tue, 09 Oct 2018 17:10:40 GMT

Yes. Thanks. I have a gazillion questions. Hahaha. Has been interesting, to say the least reading a lot of the forums. Tons of info.

Re: Capital One “Pending Status” 7 to 10 days?

FinStar — Tue, 09 Oct 2018 17:34:34 GMT

Absolutely. Keep us posted on the outcome. Stick around as well. A plethora of information awaits.

Re: Capital One “Pending Status” 7 to 10 days?

Anonymous — Tue, 09 Oct 2018 17:54:09 GMT

For sure!!!

Re: Capital One “Pending Status” 7 to 10 days?

JR_TX — Tue, 09 Oct 2018 22:00:36 GMT

I think you’ll be fine and eventually get that approval! Even though the Savor has that “anti-churning” approval algo, your 2 HPs haven’t reported as new accts yet so a lot of good probability your profile isn’t flagged for churning yet but somewhat just a little credit seeking.
Best of Luck and pls update us!

Re: Capital One “Pending Status” 7 to 10 days?

Shooting-For-800 — Tue, 09 Oct 2018 23:02:30 GMT

I bet you get at least $10k SL!

I have had like 7 Cap One cards in the last 5 years and I got 7-10 day message after being prequal for Venture at 13.99% (lowest APR).

Called 3 or 4 days later, verified ID, got $30k @ 13.99%.

I think they are slowing down instant approvals for security reasons especially when apps are over the weekend.

GL!

Re: Capital One “Pending Status” 7 to 10 days?

Anonymous — Tue, 09 Oct 2018 23:24:51 GMT

Oh wow! That would be sweeeeeet!! When I called, the rep said someone would contact me for verification with 1 to 2 days max on the phone. Probably to confirm my identity by calling me? He said then I would be given the decision. Crazy!!!! lol. I keep telling myself if they were going to deny, I’d be done by now. lol. Fingers crossed!!!!

Re: Capital One “Pending Status” 7 to 10 days?

Anonymous — Tue, 09 Oct 2018 23:26:35 GMT

I since you have 5 Cap One Cards, let me ask you. If I apply for another one in the same month, would they use the same pull report? I hate those darn HP’s. They hit me on all three bureaus. I better get this card. lol. I’d love another too!!!!!

Mark

Re: Capital One “Pending Status” 7 to 10 days?

FireMedic1 — Wed, 10 Oct 2018 00:03:31 GMT

I'll just throw in the congrats now.

Re: Capital One “Pending Status” 7 to 10 days?

Anonymous — Wed, 10 Oct 2018 00:20:13 GMT

Oh wow. Really? Gosh, I hope I’m approved!!! Thank you for the HUGE vote of confidence. I hope I do t miss their call. Holy. Can u imagine. Hahaha.

Mark

Re: Capital One “Pending Status” 7 to 10 days?

Anonymous — Wed, 10 Oct 2018 00:24:23 GMT

Getting a credit cards approval is better than any bday gift I can remember. Hahahaha. And I’m 45yrs old. lol. The process stresses me big time now! Capital One walloped me with three hard pulls for each bureau. Can you imagine not getting the card after that?! So unfair! The whole hard-hit lowering your score system stinks. I’d really like to get another Chase card. Thoughts? The Slate maybe? I have the freedom unlimited. Also, I’d like a Bank of America card. I have a checking account with them, and every time I log into my online account, they have special offers for me. I don’t know if that means I am preapproved. Probably not. Probably just a marketing tool to sucker me into three more Hard pulls. LOL

Re: Capital One “Pending Status” 7 to 10 days?

HeavenOhio — Wed, 10 Oct 2018 11:57:31 GMT

@Anonymous, congrats on the approval.

Capital One will only approve only one card every six months. But if you were to apply before then, they'd tell you that you were ineligible without having to pull your credit.

Wait on Chase. If I'm counting right, you have three new cards in the past month. Give it three to six months of gardening.

What's your Savor limit?

Re: Capital One “Pending Status” 7 to 10 days?

xaximus — Wed, 10 Oct 2018 13:39:23 GMT

I would assume it'll most likely be an approval. Cap1 has definitely slowed down on instant approvals of late, I apped for the Venture and it took about a week before I was approved and mine was on a weekend as well. I would say, since your recent card additions to wait on Chase. The last think you want to do is spook them. Also, they have the 5/24 rule so, if you have gotten 5 cards in the last 2 years, you'll be denied automatically. I would recommend getting cards that are useful to you and can be utilized for their benefits. I.e. Slate is a good BT card, so if you have balances that you can transfer, then get it, otherwise, it's useless for anything else (no UR points, no CB, no miles).

Good luck and do let us know how the Cap1 request goes.

Re: Capital One “Pending Status” 7 to 10 days?

Anonymous — Wed, 10 Oct 2018 16:21:38 GMT

Wow...Thank you soooooo much for all that great and valuable information. I will use it wisely. Do all cc companies have the 5 cards per year rule? Which ones. Also, is it worth me calling Cap One to follow up? I'm affraid I will miss their call. They said they would call me in 1 to 2 days max. I've already called once. I think they want ti call for ID verification, but who know. Thank you again!

Re: Capital One “Pending Status” 7 to 10 days?

FinStar — Wed, 10 Oct 2018 17:07:13 GMT

Chase has been known to have the 5/24 restriction for sometime, but given that, some individuals have been able to get around that restriction with in-branch pre-approvals, for example. Not in all cases, though. It really all depends on on the specific profile.

There are other lenders who may have tweaked their UW algorithms as of recent which has noticeable changed the landscape for getting approvals for some of their products, namely Barclays (Uber, Arrival) and Capital One (Savor, Venture). There's plenty of DPs on these forums (plus other sources) which point to some of those trends. Again, an item to keep in mind is the overall profile.

Whenever Capital One decides to contact you, it can be either by mail, email or phone if they require additional information. Just wait it out. If they call you, they will leave a message call back #.
No sense in driving yourself nuts over the process. Just think, there are likely thousands of applicants, some who are likely in the same boat as you, and that's why they have such an established process.

Re: Capital One “Pending Status” 7 to 10 days?

Anonymous — Wed, 10 Oct 2018 17:08:46 GMT

THANKS. Much appreciated! I will hang tight, for sure. Will update whenI hear from them.

Re: Capital One “Pending Status” 7 to 10 days?

Anonymous — Fri, 12 Oct 2018 20:32:26 GMT

UPDATE:

So, I didn’t hear from Capital One for 48 hour like they said , so I called after 72 hours. The customer service rep that picked up said he saw that it was taking time for them to get back to me, so he transferred me to another person, probably whoever should had called me by then, who put me on hold for about 2 minutes, saying he had to verify some information. He came back and said that he had verified the information he needed, and now the application would start to process. Does anybody know what that means? LOL. He said I would receive an email or a letter in the next two or three days and I could call back again if I do t here anything over that time. Has anyone heard of this before? They really make you wait it out. It’s driving me nuts!

Mark