FNBO Evergreen Pending App

[coldfusion]

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@mgood wrote:

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@coldfusion wrote:

 A soft pull would tell the tale, it wouldn't need to be a hard pull.

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I've wondered how much they see with a SP as opposed to a HP. Anyone here know?

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They can see everything via a soft pull that they can see via a hard pull.  The only substantive functional difference between them is that with a hard pull anyone with permissible purpose will see it whereas with a soft pull only you, the CRA, and the entity that made the soft pull will see it. 

[mgood]

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@coldfusion wrote:

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@mgood wrote:

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@coldfusion wrote:

 A soft pull would tell the tale, it wouldn't need to be a hard pull.

---

I've wondered how much they see with a SP as opposed to a HP. Anyone here know?

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They can see everything via a soft pull that they can see via a hard pull.  The only substantive functional difference between them is that with a hard pull anyone with permissible purpose will see it whereas with a soft pull only you, the CRA, and the entity that made the soft pull will see it. 

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So the only thing they accomplish with a HP is letting all the other creditors and potential creditors know they're pulling your credit? That's nice.

[OmarGB9]

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@mgood wrote:

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@coldfusion wrote:

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@mgood wrote:

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@coldfusion wrote:

 A soft pull would tell the tale, it wouldn't need to be a hard pull.

---

I've wondered how much they see with a SP as opposed to a HP. Anyone here know?

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They can see everything via a soft pull that they can see via a hard pull.  The only substantive functional difference between them is that with a hard pull anyone with permissible purpose will see it whereas with a soft pull only you, the CRA, and the entity that made the soft pull will see it. 

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So the only thing they accomplish with a HP is letting all the other creditors and potential creditors know they're pulling your credit? That's nice.

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Yup. Warns other creditors of potentially risky behavior.

[Cashbackjunky]

Finally got the letter in the mail... Is this normal? I've never had all of this stuff asked of me

[DakotaM]

I don't know if it's normal perse, but I got the same letter with my application recently. I mailed in the documents and got approved 3-4 days later. My limit ended up being quite a bit lower than the pre-approval, but in my case I my lol/24 and lol/12,so it was sort of expected.

[coldfusion]

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@Cashbackjunky wrote:

Finally got the letter in the mail... Is this normal? I've never had all of this stuff asked of me

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Requests for ID/SS card/POI in response to a CC application has been a common theme among credit unions for years but it's a trend that banks have started to adopt more frequently over the last 2 years.  "Normal" is a relative term but it isn't just you and FNBO isn't the only bank that has started doing it. 

If you'd rather provide copies of the last 2 paystubs you can always call and see if they will accept those in lieu of your W2s but at this point you'll need to give them what they ask for/they confirmed what they will accept for them to move forward and process your application. 

[SouthJamaica]

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@Cashbackjunky wrote:

Hey All,

I decided to apply for the Evergreen card on 8/11, after seeing my pre-approval, and got hit with the pending message. I've been feverishly checking the app status (I have a rather large purchase coming up that I'd like to use to get the SUB) and it's still pending.

I know FNBO tends to do manual reviews which can take a bit longer. I decided to call in this morning to see if they needed anything from me.

The CSR was VERY polite but when she checked on the status she said "oh it looks like you JUST applied about a week ago" and I thought in my head 'I wouldn't use the word "just" as a descriptor to a 6 day wait' but maybe this really is the norm.

She then said "underwriting hasn't looked at your application yet" when I asked if there is an ETA on that she said "probably another 5-10 business days before they even look at it". A little bewildered, but still in a calm tone, I asked if 3 week decision times are normal and she said "yep. Anything else I can help with?"

Not sure if UW is just SLAMMED right now and the CSR's are getting fed up with applicants calling, or what?

Anyone else have this type of experience?

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I applied for the business version of the card with FNBO.  I had been prequalified.  It took around 3 weeks but eventually I was approved, and for the prequalified account.  So yes, if my experience is any guide, it is normal.

[ocheosa]

@Cashbackjunky , I applied for the business version and was asked for additional docs (although different) as well.

What you can do is call and let the CSR know you would prefer not to send sensitive docs via us mail and ask if you could send to the credit department via email. If the process remains the same, CSR will hopefully provide you with the email of the loan analyst handling your file. Send both pieces of ID verification which is important and attach a few paystubs. If an issue, the analyst will email you back letting you know they can't accept the paystubs (or bank statements) in lieu of W2's. Given the last 2 years, with shutdowns & altered hours/shifts, it seems counterproductive to go by W2s only for income. I would give it a try and see what they say.

Good luck!

[OmarGB9]

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@ocheosa wrote:

@Cashbackjunky , I applied for the business version and was asked for additional docs (although different) as well.

What you can do is call and let the CSR know you would prefer not to send sensitive docs via us mail and ask if you could send to the credit department via email. If the process remains the same, CSR will hopefully provide you with the email of the loan analyst handling your file. Send both pieces of ID verification which is important and attach a few paystubs. If an issue, the analyst will email you back letting you know they can't accept the paystubs (or bank statements) in lieu of W2's. Given the last 2 years, with shutdowns & altered hours/shifts, it seems counterproductive to go by W2s only for income. I would give it a try and see what they say.

Good luck!

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How is email more secure than US mail? If anything, I'd ask if they have a secure portal I could use to upload sensitive documents. 

[ocheosa]

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@OmarGB9 wrote:

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@ocheosa wrote:

@Cashbackjunky , I applied for the business version and was asked for additional docs (although different) as well.

What you can do is call and let the CSR know you would prefer not to send sensitive docs via us mail and ask if you could send to the credit department via email. If the process remains the same, CSR will hopefully provide you with the email of the loan analyst handling your file. Send both pieces of ID verification which is important and attach a few paystubs. If an issue, the analyst will email you back letting you know they can't accept the paystubs (or bank statements) in lieu of W2's. Given the last 2 years, with shutdowns & altered hours/shifts, it seems counterproductive to go by W2s only for income. I would give it a try and see what they say.

Good luck!

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How is email more secure than US mail? If anything, I'd ask if they have a secure portal I could use to upload sensitive documents. 

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This is why I now tend to shy away from giving advice on this forum and message individuals direct. It's called reading between the lines. My recommendation had nothing to do with snail mail vs email and everything to do with having a direct line of communication with the individual making the decision on the pending application. In my experience, the analyst has a bit of leeway on alternate documents accepted but only s/he can advise what those documents are.