Can i get instantly approved then denied a day later without a reason or notice?

[Anonymous]

I was instantly approved for a credit line and when i went to check the status of my order found it to be on hold so i called and was asked simple questions such as billing add, last four ssn and dob ....then i was told the information will be passed to the back office and should get a call back at the most in a day .....no call came so i called back was asked the same questions given the same response till i notified Representative i already gave info .. she sees it notated then tells me that the after the back office’s “investigation”? That i would have to use another payment method..when asked the reason for this action i was told the exact reason couldnt be disclosed due to their security measures...when i ask why was i initially approved for the line of Credit with the given information and my application not put on hold for further verification the answer i got was that was the computer assessment ....but i dont understand why i wasnt even given a chance to verify my information with them other than them asking information they already knew such as stated above ....so i ask can they do this ....or how should i proceed ? The creditor is web bank and my fico is 805 thanks in advance for all your help

[AllCredit]

Can you tell us who the creditor is?

[HeavenOhio]

WebBank

[Anonymous]

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@Anonymous wrote:
I was instantly approved for a credit line and when i went to check the status of my order found it to be on hold so i called and was asked simple questions such as billing add, last four ssn and dob ....then i was told the information will be passed to the back office and should get a call back at the most in a day .....no call came so i called back was asked the same questions given the same response till i notified Representative i already gave info .. she sees it notated then tells me that the after the back office’s “investigation”? That i would have to use another payment method..when asked the reason for this action i was told the exact reason couldnt be disclosed due to their security measures...when i ask why was i initially approved for the line of Credit with the given information and my application not put on hold for further verification the answer i got was that was the computer assessment ....but i dont understand why i wasnt even given a chance to verify my information with them other than them asking information they already knew such as stated above ....so i ask can they do this ....or how should i proceed ? The creditor is web bank and my fico is 805 thanks in advance for all your help

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Was this for a business loan?

[Anonymous]

No it was for a dept store called luxury watches nyc .. i was looking to buy a rolex from them and they offered a payment method from web bank called klarna here are the details of email .....Hi Charles,
Thank you for choosing Klarna.
Information about your account is available by logging in to www.klarna.com or calling customer service at 1-844-455-2762 (1-844-4KLARNA). Account Details

Account Number XXXXXXXX
Credit Limit $7,400.00
Customer Since October 9, 2017

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What happens next?
Buy from any store that accepts Klarna Credit and pay for your purchases over time. The order amount will be added to your monthly statement. Your account is paperless and we will send you a statement ready email on the 4th of every month..... As u see it was approved the 9th i called a couple days later after not hearing from them and today they said for me to use another payment method that they closed the account ...i dont know why and they wont tell me

[Aahz]

To answer the title question: Yes, you can be approved and then denied a few days later.  Both BofA and Chase were doing so relatively recently.

As for the "reason", you should receive an adverse action letter in the mail giving the reasons for the denial.  But I predict they will be neither enlightening nor satisfactory.

[Anonymous]

Hummm thanks for the answer i highly appreciate your time and knowledge ...kinda sucks i just checked my fico now and i see the inquiry from them and it did drop my score just a bit but im still above the 800 mark thanks once again enjoy the rest of your Day

[Anonymous]

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@Anonymous wrote:
I was instantly approved for a credit line and when i went to check the status of my order found it to be on hold so i called and was asked simple questions such as billing add, last four ssn and dob ....then i was told the information will be passed to the back office and should get a call back at the most in a day .....no call came so i called back was asked the same questions given the same response till i notified Representative i already gave info .. she sees it notated then tells me that the after the back office’s “investigation”? That i would have to use another payment method..when asked the reason for this action i was told the exact reason couldnt be disclosed due to their security measures...when i ask why was i initially approved for the line of Credit with the given information and my application not put on hold for further verification the answer i got was that was the computer assessment ....but i dont understand why i wasnt even given a chance to verify my information with them other than them asking information they already knew such as stated above ....so i ask can they do this ....or how should i proceed ? The creditor is web bank and my fico is 805 thanks in advance for all your help

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If you have an 805 credit score, you don't need that type of card anyway. 

Obviously the customer service is a JD Power bottom feeder. 

[Anonymous]

Very true .. i must say i was troubled by their actions to the point where i wanted to seek Legal council but didnt know how to proceed thank you once again for all your answers thanks

[Anonymous]

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@Anonymous wrote:
Very true .. i must say i was troubled by their actions to the point where i wanted to seek Legal council but didnt know how to proceed thank you once again for all your answers thanks

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I wouldn't recommend going that route if you're still thinking about it. An issuer has a right to take adverse action or deny you for credit for any reason.