M&T Bank Visa card

[Nocredometer69]

Manufacturers and Traders Bank out of Buffalo NY. They are a regional bank. Received a preappoval offer for the Singature Visa card. Currently 15 billing cycles 0% purchases and balance transfers with no fees. Standard 1.5% rewards on all purchases .Decided to take advantage of the no fee transfer. So these credit card applications are manually underwritten. You will not get an instant approval just a message stating your application has been submitted. It will take a few days to hear back but if approved when you log in to your account the credit card will appear with the credit limit. Was approved $13500 with one bureau pulled, Experian,792 score. 

[firefox100]

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@Nocredometer69 wrote:

Manufacturers and Traders Bank out of Buffalo NY. They are a regional bank. Received a preappoval offer for the Singature Visa card. Currently 15 billing cycles 0% purchases and balance transfers with no fees. Standard 1.5% rewards on all purchases .Decided to take advantage of the no fee transfer. So these credit card applications are manually underwritten. You will not get an instant approval just a message stating your application has been submitted. It will take a few days to hear back but if approved when you log in to your account the credit card will appear with the credit limit. Was approved $13500 with one bureau pulled, Experian,792 score. 

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congratulations on very nice approval, oldfashioned bank real people do real work.

[Nocredometer69]

I spent years working as consumer loan underwriter. Credit unions still manually underwrite auto, personal and credit card applications. The smaller regional banks and credit unions are still doing business the old fashioned way.

[firefox100]

How long does it take to underwrite a creditcard application and they call your employer?

[Nocredometer69]

I would have authority to $15000 before needing to send to a higher level underwriter. I would say 15 minutes. Review of checking account, credit history, history with the credit union , credit score, ability to repay etc. I would then email or call the credit union member with decision . My job was graded on number of monthly closed loans and loan volume. No calls to employer but verify income if warranted based on score or believable income commensurate with job.

[user979797]

Congratulations on your wonderful sl and approval 😊

[Anonymous]

Congrats, looks like you received a very nice pre-approval offer since the standard offer for the card only;

0% APR on purchases and BTs for 12 months and 4% balance transfer fee

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1.5% everything
No Foreign Transaction Fee

0% introductory APR on balance transfers and purchases for 12 billing cycles from account opening
4% balance transfer fee

[Nocredometer69]

Yes 15 months and no fees on transfer as the Truth in lending statement is different than the standard one online . I have one card at 6.99% I'm gonna transfer over. Fairly rare to get a transfer with no fees for first 60 days from account open . 

[cashorcharge]

Nicely done!! Congratulations on your Approval!!👏🏼🍾

[CreditAggie]

Congratulations on your M&T Bank approval!