[update] blispay backlogged???

[Anonymous]

I applied today with a 714 EX, instant approval for $5k.

[Anonymous]

Kinda like an individual Burger King franchisee being told to sell the latest burger for $1 when it costs $1.10 to make?  You have to sell it or you lose your franchise.  You have a Buger King that has not been remodeled in 15 years and not much money in savings?  Either upgrade to the new standard or lose your franchise.  Why get into "the business" with bad business knowledge?  I think Blispay will succeed. 

[Anonymous]

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@Anonymous wrote:

I applied today with a 714 EX, instant approval for $5k.

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Another piece of data here that shows that Blispay is consistently inconsistent.  Congrats on your approval in what seems to be a very odd time for Blispay.

So over the course of the last week or so from the data I've read on here, 6 people have posted that they've applied for Blispay and 3 of them received instant approvals while 3 others were sent to purgatory in the time out room, waiting in limbo day after day to hear whether or not they are approved or denied.  All of the scores for both of these groups of 3 have been similar with the slight edge going to the ones that didn't receive instant approval. 

Interesting that no one has reported an instant denial, however.  I'm still trying to figure this whole situation out.

[DonDraper]

I apped on 6/16.  My "Experian National Equivalency Score" from Credit.com (range 360-840) was 820. Don't know FICO, but EX Vantage 3.0 was 815. Safe to say FICO is pretty high. Clean reports, knocking on $200k in available credit, total util under 1% (about 300 bucks, actually). So obviously quite low. 4 total inquiries, only 2 in the past year; 2 new accounts in past year.

Got the "please call us within 5 days" message and called in. They asked the standard questions... current address and 2 creditors. No approval or denial, just "we'll let you know." Around a week later I got a snail mail letter, expecting it to be a denial. The letter said "we need to verify information, please call us." So I called again and the rep said that was just a paper version of the website message, and my app was still being reviewed.

So yeah, I've been in purgatory for 10 days now, despite what I thought to be a pretty solid profile.

[Anonymous]

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@Anonymous wrote:

I wonder if scores sometimes can be "too good" for a creditor... I mean, the big talk about Blispay is that most think it isn't sustainable and that they are going to end up losing money and going away.  They're probably banking on people looking to use the 6 month financing but not paying it off in time and collecting interest from them.  Perhaps people with scores that are "too good" are looked at as unprofitable as they may be more inclined to PIF and not pay a penny of interest ever?  Who knows, I'm just trying to find some sort of reasoning here for something that clearly can't be reasoned.  lol.

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^this! im starting to lean on this one.

cmon blispay! here i am waiting anxiously to charge $1600+ to carry for 6 mos. pfft!

[Anonymous]

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@DonDraper wrote:

I apped on 6/16.  My "Experian National Equivalency Score" from Credit.com (range 360-840) was 820. Don't know FICO, but EX Vantage 3.0 was 815. Safe to say FICO is pretty high. Clean reports, knocking on $200k in available credit, total util under 1% (about 300 bucks, actually). So obviously quite low. 4 total inquiries, only 2 in the past year; 2 new accounts in past year.

Got the "please call us within 5 days" message and called in. They asked the standard questions... current address and 2 creditors. No approval or denial, just "we'll let you know." Around a week later I got a snail mail letter, expecting it to be a denial. The letter said "we need to verify information, please call us." So I called again and the rep said that was just a paper version of the website message, and my app was still being reviewed.

So yeah, I've been in purgatory for 10 days now, despite what I thought to be a pretty solid profile.

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Thanks for the insight.  That puts the scoreboard at Purgatory 4, instant approvals 3.

[DonDraper]

I can;t even remember the last time I was denied for a card. I've been denied for CLIs because I don't utilize the credit I have. Guessing the same philosophy is at play here.

[credit_endurance]

Apped for blispay this morning and was approved instantlly for $5,000. My scores are around the low 700's. I know there is another thread discussing discrepencies in approvals. And scores lower than perfect getting through while 800 scores are either being flat out denied or needing more time for verfication. Very streange to say the least. Good Luck to everyone applying.

[Anonymous]

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@credit_endurance wrote:

Apped for blispay this morning and was approved instantlly for $5,000. My scores are around the low 700's. I know there is another thread discussing discrepencies in approvals. And scores lower than perfect getting through while 800 scores are either being flat out denied or needing more time for verfication. Very streange to say the least. Good Luck to everyone applying.

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Congrats on the approval, especially with about 50% of those applying seemingly not getting approvals (at least not instant).

The fact that people continue to report instant approvals seems to point to them not being backlogged at this time?

[DonDraper]

In that case, what is taking them THIS long to send us a denial email or letter?