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Santander LOC App

NYFan63
Established Contributor

Santander LOC App

I app'd for the Santander LOC a couple days ago. I called this morning to check on status. The nice gentleman indicated the analyst needed to review, I didn't need to confirm my income with W-2's / check stubs, etc. and they needed to confirm the security questions I answered during the app process and for me to call back Tuesday.

Thoughts on approval?

Thanks!
Penfed Platinum Sig Visa $33k, PenFed PLOC $25k, NFCU Cash VISA Sig 22k, NFCU Visa Flagship 22k, CAP1 Venture $23k, CAP1 Venture One $15k, NFCU NAV Check $15k, Barclays Arrival $13,2k, DCU VISA 5k, Cap1 QS 7.5k, WF Finance 3.5k, Merrick 2.2k, Barclays Apple Financing 6.1k BestBuy 5k >Ch7 BK filed 8/09; DC 01/10 EQ 636 Nov 13;
EQ08 718 | TU 731 | EXP 728
Inqs: EQ 11, TU 8, EXP 11(last 2 yrs)
Goal 750+ In the Garden til

Message 1 of 9
8 REPLIES 8
SouthJamaica
Super Contributor

Re: Santander LOC App


@NYFan63 wrote:
I app'd for the Santander LOC a couple days ago. I called this morning to check on status. The nice gentleman indicated the analyst needed to review, I didn't need to confirm my income with W-2's / check stubs, etc. and they needed to confirm the security questions I answered during the app process and for me to call back Tuesday.

Thoughts on approval?

Thanks!

I have no thoughts on approval.

 

What I can say about Santander LOC is:

 

1. IMHO it's a good product.

 

2. Santander is old school about application process and loan documentation; it took weeks to go through, and I had to go into branch to sign papers.


Total revolving limits 663000 (585000 reporting) FICO 8: EQ 716 TU 747 EX 713

Message 2 of 9
NYFan63
Established Contributor

Re: Santander LOC App

Thanks SJ - I got the idea of applying from your posts so thank you. I will call them on Tuesday to see if I was approved.
Penfed Platinum Sig Visa $33k, PenFed PLOC $25k, NFCU Cash VISA Sig 22k, NFCU Visa Flagship 22k, CAP1 Venture $23k, CAP1 Venture One $15k, NFCU NAV Check $15k, Barclays Arrival $13,2k, DCU VISA 5k, Cap1 QS 7.5k, WF Finance 3.5k, Merrick 2.2k, Barclays Apple Financing 6.1k BestBuy 5k >Ch7 BK filed 8/09; DC 01/10 EQ 636 Nov 13;
EQ08 718 | TU 731 | EXP 728
Inqs: EQ 11, TU 8, EXP 11(last 2 yrs)
Goal 750+ In the Garden til

Message 3 of 9
NYFan63
Established Contributor

Re: Santander LOC App

So I got approvd for $25k but it was at 16% - havent decided whether I will accept it as I was also apprved with TD Bank for $50k @ 14% but they want to pay off my Andrews FCU personal loan ($18k @ 10.5%) - ugh - decisions decisions...

 

 

Penfed Platinum Sig Visa $33k, PenFed PLOC $25k, NFCU Cash VISA Sig 22k, NFCU Visa Flagship 22k, CAP1 Venture $23k, CAP1 Venture One $15k, NFCU NAV Check $15k, Barclays Arrival $13,2k, DCU VISA 5k, Cap1 QS 7.5k, WF Finance 3.5k, Merrick 2.2k, Barclays Apple Financing 6.1k BestBuy 5k >Ch7 BK filed 8/09; DC 01/10 EQ 636 Nov 13;
EQ08 718 | TU 731 | EXP 728
Inqs: EQ 11, TU 8, EXP 11(last 2 yrs)
Goal 750+ In the Garden til

Message 4 of 9
dbw79
Regular Contributor

Re: Santander LOC App

NYfan- nice loc approvals. While the apr seems high, their not credit unions, so I suppose that's par for the course. Did they both require inc ver? I would assume TD for $50k would, which is a crazy limit for a loc!

 

congrats again.

Message 5 of 9
SouthJamaica
Super Contributor

Re: Santander LOC App


@NYFan63 wrote:

@so I got approvd for $25k but it was at 16% - havent decided whether I will accept it as I was also apprved with TD Bank for $50k @ 14% but they want to pay off my Andrews FCU personal loan ($18k @ 10.5%) - ugh - decisions decisions...

 

 


Why not accept it? It's just a line of credit. You don't have to use it.


Total revolving limits 663000 (585000 reporting) FICO 8: EQ 716 TU 747 EX 713

Message 6 of 9
NYFan63
Established Contributor

Re: Santander LOC App


@dbw79 wrote:

NYfan- nice loc approvals. While the apr seems high, their not credit unions, so I suppose that's par for the course. Did they both require inc ver? I would assume TD for $50k would, which is a crazy limit for a loc!

 

congrats again.


dbw - thanks!  Good point on the interest rate.  TD indicated they needed documents so I assume it is the last two pay stubs.  I will find out tomorrow.

Penfed Platinum Sig Visa $33k, PenFed PLOC $25k, NFCU Cash VISA Sig 22k, NFCU Visa Flagship 22k, CAP1 Venture $23k, CAP1 Venture One $15k, NFCU NAV Check $15k, Barclays Arrival $13,2k, DCU VISA 5k, Cap1 QS 7.5k, WF Finance 3.5k, Merrick 2.2k, Barclays Apple Financing 6.1k BestBuy 5k >Ch7 BK filed 8/09; DC 01/10 EQ 636 Nov 13;
EQ08 718 | TU 731 | EXP 728
Inqs: EQ 11, TU 8, EXP 11(last 2 yrs)
Goal 750+ In the Garden til

Message 7 of 9
NYFan63
Established Contributor

Re: Santander LOC App


@SouthJamaica wrote:

@NYFan63 wrote:

@so I got approvd for $25k but it was at 16% - havent decided whether I will accept it as I was also apprved with TD Bank for $50k @ 14% but they want to pay off my Andrews FCU personal loan ($18k @ 10.5%) - ugh - decisions decisions...

 

 


Why not accept it? It's just a line of credit. You don't have to use it.


Good point SJ - I will move forward this week. Thanks for the guidance.

Penfed Platinum Sig Visa $33k, PenFed PLOC $25k, NFCU Cash VISA Sig 22k, NFCU Visa Flagship 22k, CAP1 Venture $23k, CAP1 Venture One $15k, NFCU NAV Check $15k, Barclays Arrival $13,2k, DCU VISA 5k, Cap1 QS 7.5k, WF Finance 3.5k, Merrick 2.2k, Barclays Apple Financing 6.1k BestBuy 5k >Ch7 BK filed 8/09; DC 01/10 EQ 636 Nov 13;
EQ08 718 | TU 731 | EXP 728
Inqs: EQ 11, TU 8, EXP 11(last 2 yrs)
Goal 750+ In the Garden til

Message 8 of 9
meshilem
Valued Member

Re: Santander LOC App

Santander declined my loc app because my credit score was 687

Message 9 of 9
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