@FinStar wrote:
@SouthJamaica wrote:Inspired by this thread, I checked for prequalification and was prequalified, for a 15k limit and 20.24% APR.
I then applied and got the 2-4 week notice.
I have a hunch my application is being denied, and that the prequalification was not very meaningful.
Let us know how yours turns out!
It's been 18 days and I haven't heard a word. It's still marked "pending". They haven't asked me for a thing.
They pulled EX on the day of the application.
Today, some 19 days after I applied, I received, via snail mail, a request that I send, by return snail mail, proof of my business's existence and address.
I guess this is a good sign 
@SouthJamaica wrote:Today, some 19 days after I applied, I received, via snail mail, a request that I send, by return snail mail, proof of my business's existence and address.
I guess this is a good sign
I'd say that if you feel comfortable in doing so or sending it via CMRR (or whichever secure method you prefer), then it appears that it could have a positive outcome.
@SouthJamaica wrote:Today, some 19 days after I applied, I received, via snail mail, a request that I send, by return snail mail, proof of my business's existence and address.
I guess this is a good sign
Very good sign! Congrats!
Call and request loan analysts email, or fax to the number on the letter, to expedite the process. If you fax call to confirm receipt, mine was lost in cyberspace.
OK Well here's the bottom line:
Approved for 15k starting limit, which is the limit that was in the preapproval.
It took 24 days from application (within the 2-4 weeks they had projected).
They pulled EX. My EX FICO 8 at the time was 713. I don't know which scoring model they look at.
I had substantial recent inquiries in EX. No new accounts though.
Had substantial aggregate utilization at the time, in the neighborhood of 34-35%.
The only documents they asked for were the company's organization documents and proof of address, which happened to be the same document.
Very glad to add a 2% cash back, no annual fee, non-Amex, business card. The 0% introductory APR is icing on the cake.
@SouthJamaica wrote:OK Well here's the bottom line:
Approved for 15k starting limit, which is the limit that was in the preapproval.
It took 24 days from application (within the 2-4 weeks they had projected).
They pulled EX. My EX FICO 8 at the time was 713. I don't know which scoring model they look at.
I had substantial recent inquiries in EX. No new accounts though.
Had substantial aggregate utilization at the time, in the neighborhood of 34-35%.
The only documents they asked for were the company's organization documents and proof of address, which happened to be the same document.
Very glad to add a 2% cash back, no annual fee, non-Amex, business card. The 0% introductory APR is icing on the cake.
Congrats... EX Bankcard 09 is what they use.
