Auto Refi vs CC approval times

[oscar_actuary]

I'm curious why I can get a $20,000 CL immediately from PenFed  (well, oddly it was $10,500 until I sawe an email about completing the process by adding a PIN, and then it was finallized at $20k)  All that aside, numerous times CC apps will be immediately approved and CL given.

However, I'm doing my first ever online Auto Refi now with PenFed (the same folks that gave me the 10.5 -> 20k CL cc) and 48 hours later it's still "Pending".  I guess I'm more surporsed they can comfotably give me 20k so quick; but in light of that, why so long on an Auton Refi.  When...

1.  Car is 1.5x loan value (20k vs 14k)

2.  House + Car payment would be 25% of my gross, excludes wifes income

Yes, Ive had a lot of inquiries and new credit lately (man, I wasn't even considering refis.  At 4.95% car and 3.875% Home, but lo and behold I saw how good PenFed was (1.74% auto) and then the other day my Mrtgag company calls and now Im in the mist of going to 3.375% with ungodly low closing costs.  I woudl have held off on the CC app spree had I known/considered these refis)

So, back to why do Auto Refis with so much equity take time?

I guess its because CC are computer driven decisions, and Auto refis have to be reviwed by live people ?

[oscar_actuary]

Well whatdoyaknow, It's status is "Transferred" and the Loan is set up on the main page.  For now, it has no min payment calculated.  The rate is 1.74%.  PenFed just is a bit unsettlnig, altough I have no concret complaints, just little stuff.

They call my CC a loan

They call the Used Car Refi, a Used Car Loan, which can be fine to interchange, except I can't find any of the lender info I entered upon application; therefore I"m not 100% certain they understand what I'm after.  I know, surely, they do these all the time and I"m worrying about nothing

Compared to say my experience with Quicken Loans where the emails and website would be coordinated.  And a duck would be called a duck.  And you could locate files you had sent on their site.

Anyway, whoo hoo.  Can't complain for 48 hrs, 3.2% drop in rate