Capital One “Pending Status” 7 to 10 days?

[Anonymous]

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

[FinStar]

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.

[Anonymous]

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

[FinStar]

Anytime, and welcome to the forums btw.

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

[Anonymous]

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

[FinStar]

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

[Anonymous]

For sure!!!

[JR_TX]

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!

[Shooting-For-800]

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!

[Anonymous]

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!!!!