If You Don't Get An Instant Decission Can You Take It As A No?

HeadInSand_2

Kavanne wrote: »

Won't affect the OP in the long run, will it? But I suppose we don't know if they need to apply for any more credit in the next 3 months. If they do, uh oh. if not, no harm done really.

Long term it won't really matter. A string of on-time payments and well managed accounts will far outweigh any past credit searches. It may go against the OP in this instance though if the other searches are on file whilst being manually reviewed for credit.

Stoneman_2

I applied for a HSBC card a while back and had the response that I should contact them before they could make the decision. I spoke to their customer services services and was told that they couldn't see why I didn't get an instant decision and that the card would be sent out. I recieved a letter a couple of days later stating that I had been declined!!

I've also been told that if you apply at the weekend or late at night that you might not always get an instant decision.

Ellie-Lee

Stoneman wrote: »

I've also been told that if you apply at the weekend or late at night that you might not always get an instant decision.

Ah yes my referal was on a weekend in the evening. Wonder if thats why. Why would that be though?

nichart20

I did not get an instant desicion for my credit cards or loan but was approved, did not take long after to get paperwork saying I had been approved

Swans1912

Didn't get an instant decision for the AMEX but got approved with an average limit.

suki43

Ellie-Lee wrote: »

Ah yes my referal was on a weekend in the evening. Wonder if thats why. Why would that be though?

Because the credit departments are closed on the weekends. They're separate from customer service hours of operation.

clio

surely you can get an instant answer at week ends, computers don't shut down, plus if i think back i got my Egg Money card application approved on a saturday night-time.

suki43

No it's not the computers, it's people who aren't at work who process the credit checks

clio

so what does the computer do then lol. do you mean if it's not a yes/no then it will go to a person when they are working??

bert&ernie

clio wrote: »

so what does the computer do then lol. do you mean if it's not a yes/no then it will go to a person when they are working??

When you make an application, the lenders computer system will make a decision which typically results in one of three possible outcomes:

1. Accept the application
2. Decline the application
3. Refer the application - to a human underwriter. This means its a marginal call and the computer doesn't have enough information to make it. The application will be queued until an underwriter is available to process it - this can take anything up to a few days depending on service levels and working days.

There is also a fourth possible outcome - the computer may not be able to make a decision at that exact time because various data resources are unavailable. Typically, this happens at night when the credit bureaux online services are unavailable. In this case, the application will be queued until the next day when it will be processed and receive one of the above decision classes.