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Does Elan ever give an instant approval?

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Established Member

Does Elan ever give an instant approval?

Does Elan ever give an instant approval?  I just applied for the Fidelity card and got the canned answer

 

"Thank you for your interest in the Fidelity Rewards Visa Signature Card.  We received your application and it is currently being processed.  You will be notified via UW Mail in the next 7-10 business days."

 

I am att 11% credit card utilization (only 1 card has a  balance)  They only pulled TU and that score according to my credit card FICO 8 was 764.  I have 2 accounts opened in the past 1 year but (1 CC w/ $0 balance and 1 installment loan with a balance of $4832 balance).

Have a mtg, student loans, 1 CC with a balance and 2 installment loans.  

 

I realize COVID-19 is making lenders worried but I thought this would be an instant approval

Message 1 of 5
4 REPLIES 4
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Moderator

Re: Does Elan ever give an instant approval?

Yes they give instants.. More so than not most do goto manual review though

Message 2 of 5
Senior Contributor

Re: Does Elan ever give an instant approval?


@ahmeyer wrote:

Does Elan ever give an instant approval?  I just applied for the Fidelity card and got the canned answer

 

"Thank you for your interest in the Fidelity Rewards Visa Signature Card.  We received your application and it is currently being processed.  You will be notified via UW Mail in the next 7-10 business days."

 

I am att 11% credit card utilization (only 1 card has a  balance)  They only pulled TU and that score according to my credit card FICO 8 was 764.  I have 2 accounts opened in the past 1 year but (1 CC w/ $0 balance and 1 installment loan with a balance of $4832 balance).

Have a mtg, student loans, 1 CC with a balance and 2 installment loans.  

 

I realize COVID-19 is making lenders worried but I thought this would be an instant approval


When I applied back on 3/17, I got instant approval. Received a low SL but was able to call and have it increased without another HP.

At that time, I was told they used a previous version of the FICO score model.

American Express: Platinum Charge, Optima, Business Gold, Delta Business Platinum
Barclays: Arrival+ WEMC
Capital One: Savor WEMC, Venture VS
Chase: Freedom U VS, CSR VI
Citibank: AAdvantage Platinum WEMC
Elan/US Bank: Fidelity VS
Credit Union: Rewards Visa
FICO 08: (8.12.20) EX: 835 / EQ: 846 / TU: 834
Message 3 of 5
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Frequent Contributor

Re: Does Elan ever give an instant approval?

Did you get approved?

Message 4 of 5
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Established Member

Re: Does Elan ever give an instant approval?

No.  I switched my accounts to Charles Schwab.  They gave me the Amex card with a $5500 limit.  

Message 5 of 5
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