@Anonymous wrote:
I've always wondered what happens during this process... Like whenever you hit the "submit" button on a application and it takes it around 20-30 seconds to finally come back with a decline/approval message. Are there real life credit analysts that are looking at your credit report or does it shoot your report through their grading algorithms through a computer?
Its an automated process, but when you click submit, the backend server does a quick check to make sure you are you as best as they can, then requests your credit report then analysyzes the CONTENT of the report (not just the score) and checks internally to make sure you are not blacklisted. Perhaps checks your income as well.
The computer then gives your credit report 3 options.... decline / approve / pend. If approved, it then determines a credit limit by using some random method.
Then it generates a webpage and sends you the news.
Its actually amazing this all works.
Dan
Just trying to get my scores to rise from the dead......
Wait.... I think I just heard a heartbeat!
