Simmons Bank Visa Signature Application

[Credit456]

Hello,

I applied for the Simmons Bank Visa Signature. I was asked to submit drivers license, utility bill, and a third document showing address also. Simmons also requested that I resend my Drivers License. 

They now say they are working on processing my application.

I have the following data points:

TU: 768

Inq: 8/12

Income: 100K

New Accounts at time of application: 0 since 01/22.

No POI was requested.

Do I stand a chance at approval? Or is this just a drawn out denial?

[PapaTunde]

Back in the day, Simmons was very conservative.  They were known for 30 day approval processes and an extremely hard card to get.

I donk know what their UW is like these days tho

Good luck

[coldfusion]

Requesting documents confirming identity and residence aren't unusual nowadays; it's done as an anti-fraud measure.  Your being asked to provide them shouldn't be seen in a negative light.   Also, any smaller banks and credit unions, and even a few larger ones like TD Bank and US Bank are known to manually process or review many or all applications, so the response that your application is being processed also shouldn't be viewed in a negative light.     More relevant would be whether or not your credit profile were clean, as it's possible to have a late stage derog reporting with your FICO score.

As mentioned above Simmons was known traditionally as a conservative lender, but we don't see many outcomes reported either for approvals or denials here nowadays so there is little to compare against. 

[Credit456]

I should add, no derogatory information or lates. When I applied a year ago I was denied rather quickly for DTI. I now make more then a year ago. 

[Anonymous]

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@Credit456 wrote:

I should add, no derogatory information or lates. When I applied a year ago I was denied rather quickly for DTI. I now make more then a year ago. 

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So what is the draw of applying for Simmons again?  Back in the day, they offered a very low APR because they only accepted great credit.  Now many are lower, so it's a long app process for not much reward, IMO!

[AndySoCal]

My recent two credit card applications both have asked for drivers license.  The last application with Syncrony Bank they wanted the DL and a 5 second close up video of your face.  I almost would guarantee the picture on the DL and the video were compared. I was approved for the card.

 Fraud in general is at elevated levels the banks are trying to protect you the consumer as well as themselves.

[Credit456]

Just thought I would post a final update:

It took Simmons Bank three weeks to send a letter stating that my application was denied due to fraud or suspended fraud. I contacted them and advised that I sent the documents requested. I was told that I needed to contact ARS. As some of you may know you can only request an ARS report via mail by providing SSN and a copy of your DL.

[Nocredometer69]

I underwrote credit card apps at a small credit union. I would ask for proof of Id or residency when there was a red flag as in address

discrepancy. Drivers license and utility bill would clear the red flag and processing continued. Hmmm is there more to the story to be denied for this? Multiple addresses on credit in various states ? Anything that would stand out ?

[Patient957]

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@Credit456 wrote:

Hello,

I applied for the Simmons Bank Visa Signature. I was asked to submit drivers license, utility bill, and a third document showing address also. Simmons also requested that I resend my Drivers License. 

They now say they are working on processing my application.

I have the following data points:

TU: 768

Inq: 8/12

Income: 100K

New Accounts at time of application: 0 since 01/22.

No POI was requested.

Do I stand a chance at approval? Or is this just a drawn out denial?

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2 Questions:

1) Why would someone want this card over same of the more mainstream options with better reward structure?

2) Why do you have 8/12 inqs but zero new accounts in years?

[BallBounces]

3) why would a random thread from 3 years ago be necromanced?