Online Credit Card Application, How Do They Check Credit Report( So Fast?)

[Anonymous]

Hi... I am curious. When one fills out an online Credit Card application, how is it possible for the Creditors online Application process to get a fair Credit Report reading, less than one minute? 

[CCrew]

Same way basically as a finance manager typing it into a web browser,  in that they make a API call to the assocated credit bureau based on the input form you inputted they use then parse the return from the bureau for values and internally score as necessary. Technology works well when it works! When it fails in the background or it doesn't match the programmed parameters it's flagged for review or a hard decline. 

Some, I'll use AMEX for example, simply use the last SP record they have on file for you if you already have an account

(I'm a IT Security person, that's the Jenny Craig overview )

Hope that helps!

[Anonymous]

It uses series of internet tubes.

[CreditCuriosity]

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@CCrew wrote:

Same way basically as a finance manager typing it into a web browser,  in that they make a API call to the assocated credit bureau based on the input form you inputted they use then parse the return from the bureau for values and internally score as necessary. Technology works well when it works! When it fails in the background or it doesn't match the programmed parameters it's flagged for review or a hard decline. 

Some, I'll use AMEX for example, simply use the last SP record they have on file for you if you already have an account

(I'm a IT Security person, that's the Jenny Craig overview )

Hope that helps!

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Basically what he said i work with databases for a living but have also worked with Chase on their CC system along with a few other banks.  Tons more go into it, but the amount of data big companies can parse and run through programs in a second will boggle your mind.  

[Remedios]

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@Anonymous wrote:
It uses series of internet tubes.

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Used to be pidgeons back in the 56k days 

[Anonymous]

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@Anonymous wrote:

Hi... I am curious. When one fills out an online Credit Card application, how is it possible for the Creditors online Application process to get a fair Credit Report reading, less than one minute? 

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The fine print during the application process explains what CCrew has written in plain English.

[Anonymous]

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@Remedios wrote:

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@Anonymous wrote:
It uses series of internet tubes.

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Used to be pidgeons back in the 56k days 

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