[update] blispay backlogged???

[Imperfectfuture]

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@Anonymous wrote:

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@Anonymous wrote:

It's odd though, because there are people with 800-830 scores that HAVE been approved for Blispay.  There really just doesn't seem to be any consistency with it.

Every person that's been approved would have to list a ton of profile info (not just scores) if we were going to attempt to find any sort of pattern between the decisions being rendered.  For the most part, all we've been looking at are scores when there are dozens of pieces of information that go into making up those scores and an infinite amount of combinations of factors.

What exactly is the difference in real world instant approval (or denial) verses extended review prior to approval (or denial)?  With an instant decision, does your profile just go into a computer and based on it's contents a decision can be rendered, approval or denial immediately?  If you don't fall into the instant approval or denial category and get some sort of message that you're going to have to wait, is that when human beings start digging deeper into your profile?  Just trying to understand how this process works.

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With a new company it may not just be about your profile. It may have to do with the lenders available funds or portofolio. Early on everyone could get in because they had the funds to leand. Maybe now thier reserves are running low so they are slowing down. Maybe they are waiting on additional reserves / funding before moving forward on approvals and selectivly holding off on higher limit approvals. So maybe, you are just holding for funding to give you that 12K approval?

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^^^This. 

There are are at least two banks involved, one international.  Financials just took a tumble with brexit.  The FDIC wants reserves coupled with equity share value.  The backing banks need that equity value (though td bank does not need to listen to fdic, am not positive on that though) to prop up assets and reserves.  They gave limits without checking income.  Either some of you high rollers got to give some back , or they limbo dance for six months.

[Anonymous]

called again today (2 wks since ive apped). and same thing but with a slight variation with her answer this time. there's now a 'notation' (woohoo! lolz) on my pending app - that it was reviewed. but unfortunately there's still no decision. i told her i'd call back tomorrow then. *fingers crossed* =p

[Anonymous]

Crazy that some apps have to be "reviewed" for 2 weeks+ and others get instant approvals and/or denials.  You would think apps that are "reviewed" for extended periods of time come from those with profiles that for whatever reason are "on the cusp" of approval/denial.

Incubus24, so you're at 2 weeks now.  I hit 2 weeks this coming Tuesday.  I was told to call them again Monday so we'll see then.

[JcT21]

i think your on to something here.   ive been in blispay limbo for 9 days now.  ive called twice and get the same "its in review" answer. i havent received a snail mail letter though, not yet anyway.    perhaps they are looking for people more likely to charge a lot and pay interest.   i always PIF, except for the very small balance i let report on 1 card.

i am lil frustrated with them.   even though im sure it will eventurally be approved,  at this point i just wish id never applied and took a hp

[Anonymous]

At least you have confidence in your approval.  I don't.  No real reason why other than a gut feeling.  What was your EX score they pulled?

I suppose if there were more "in limbo" people reporting back here that they eventually got an approval that would be a nice sign.  It seems that now the sample size is too small at this point to really make a call on that as the majority of those in the past that were approved or denied pre-mid-June seemed to get their answer if not instantly at least pretty quickly.

My concern at this point is that if I AM "on the cusp" for whatever reason outside of my score, if I eventually am approved I hope it isn't with a minimal $2k-$3k limit when I've seen plenty of others with similar profiles/scores to mine come away with $6k-$8k approvals.  With the inability to receive a CLI, that would be quite a letdown.

[DonDraper]

I'm at 15 days now. Not convinced by the validiity of the earlier theory about Brexit affecting apps. I applied a week before the vote, and many people have been approved since.

Honestly don't care about the card anymore, but will still contribute data points and check back to see how everyone else fared.

[JcT21]

my experian score was 711 when they pulled.  my experian score rarely changes, certainly not as often as eq and tu does. 

after reading about blispay on here and other forums people with higher scores than me got denied and people with lower scores  got rather nice 5k+ limits.  im thinking blispay is rather picky and looking for certain criteria in who they approve.  i agree with a poster on here that said that blispay might rather have someone that doesnt PIF.   with that said my confidence is slightly shaken a bit.   id hate to get a denial simply because i PIF when possible.   ehhh, it would be my first denial in years and like i said before, at this point i wish i could give them back the HP and just forget the whole thing.  i just dont see how it takes so long to review a good credit profile.  makes ya wonder whats going on with them. 

[Anonymous]

I agree.  It's irritating to not only waste a HP, but know that the HP wasted is able to be seen by other potential lenders that will then wonder "why didn't the company that gave them the HP not extend them credit?"  I just think it's a bad look, and one that's unfortunate for people with credit scores in the 700's and even 800's.

[Boonie]

Add me to the backlog list.  I app'd for Blispay on 6/18, called in the following Monday at 8 am and completed the phone verification and was told it would be 2-3 more days.  Then I receive a verification letter asking me to call within 15 days.  I called and they said letter was a duplicate from the phone verification and to wait 2-3 more days.  I haven't bothered with it since other than checking their website that always say "Call us."  I have a lot of inquiries on EX.  It seems very slow of them, however, I applied for a Venture card at the same time as Blispay, Venture called me to get verification on 6/23 and said to wait about 3 days, was approved on 6/24 (I know from the date of the approval letter), but didn't receive the approval letter until 6/30, and still no actual card yet.  So creditors seem to be scrutinizing ID a bit more???   

[DonDraper]

Just perusing posts by people who have been approved, it seems their consensus is "Blispay is picky, you have to have high scores and high llimits to be approved" (in other words, they think they were approved and admitted to this exclusive club because they're the cream of the credit crop). Then you see their scores are in the 600s to mid 700s with double-digit utilization and inquiries, and fairly low limits/available credit.

The first, likely experimental, wave of apps is probably not indicative of their current focus... they closed it down for a while and obviously rethought their strategy before reopening for new apps. The second (current) wave is more fine-tuned to their intended direction, as they analyzed the spending and payment patterns of the first wave of approvals and saw which profiles made them money... and didn't.

The people with the highest scores, highest limits, highest available credit, lowest utilization and fewest inquiries are now the ones being denied or outright ignored. I see no evidence from the posts on this board or others that Blispay is approving the strongest profile or best credit. Seems the better your profile, the less likely it is that they want you. Those of us for whom it's a given that we'll be instantly approved for $25,000 CLs are the ones being given the shaft by Blispay since they reopened apps after the initial wave, and that says a lot about the type of customer they're targeting. Their aim is to make money, not give it away, and they're narrowing their focus to people who fit that aim.