I recently heard about FNBO being a great bank to do business with and decided to take a chance an apply for a card with them. I did the pre-qual app and it said I was pre-qualified for the Evergreen at $15k. I went forward and completed the full application. Got the 10-14 pending message. Received a letter in the mail requesting W2s for last two years, copy of DL, copy of SS card. I got the documents together, called and got the fax number and sent them to them around noon today. I just saw that I got an email around 5pm stating I had an application update. Went to the site and it said my application was denied. I'm surprised. I wonder why they would deny me after asking for all of the verification? Has anyone else had this happen to them? Do you think it's worth me calling them to see what is going on? It would seem to me if there was some kind of credit issue they had they would have just denied me without asking me to send of the other information in. Any advice?
I would wait on the letter to confirm the reason(s) for the denial of your application. Then, you can try reaching out in the event something needs to be sorted out.
Even if you provide the requested documents (lenders can request such info in a variety of cases to be compliant with the Patriot Act and KYC guidelines), applications can still be declined. It's fairly possible that after a full review of the documents you provided, it didn't meet their UW guidelines. Anything from unable to match the information with their internal records (or sources), income discrepancy or mismatch of application data, or maybe the data they received was not legible enough to further process the application. It can be any number of reasons.
Quick update. Called FBNO late this morning to inquire about my denial. Turns out that they were missing one of my W2s. In 2021, I changed jobs in June so I sent in both W2s for last year. The person who received my fax must have not uploaded the one from my previous job onto my application so my income looked alot lower. The rep was super nice and gave me an email to send my missing W2 to. I sent that to them along with my proof of my compensation from my newer job. Just got an email from them that I've been approved! I'm glad I called. It just didn't make sense to me why I would get denied. It's always good to ask just in case it's a small error that can be fixed.
As the OP has provided an update on their application situation that resulted in an approval, this thread is now locked and closed to new messages.