Credit file searched for recent credit card application

Twister84

Hi guys,

I've recently applied for a credit card with my bank, and noticed the search on my credit file, which is of course, normal.


Now, I'll be needing to do a balance transfer to it soon, but I was wondering if it'd been accepted or not. If it has been successful, will it show up on Account Info on my file at the same time as the search? (I'm using Experian) Or does it usually show up later?

Thanks!

cifpower

The only way you could tell if you have been accepted is to ring the company and ask. A search is only indicative of the fact that you have been searched. The account info will only show up on your file if you have been accepted and the appearance of this data will not be immediate.

Kavanne

good to see bank staff know all about credit searching.

your credit report will never show whether it's been accepted or declined, yourbank will send you the decision through the post.

Moggles_2

It depends on the route and status of your application.

Most credit decisions are computerised and lenders give instant decisions and credit limits, provided that your ID, available credit etc. can be verified electronically via the CRAs, which in turn collate data from public records.

Are you on the electoral roll at your current address?

Credit searches and an increasing number of online and telephone credit card applications (those which give instant decisions and credit limits) appear on your credit file more or less in real time

Kavanne

Moggles wrote: »

It depends on the route and status of your application.

Most credit decisions are computerised and lenders give instant decisions and credit limits, provided that your ID, available credit etc. can be verified electronically via the CRAs, which in turn collate data from public records.

Are you on the electoral roll at your current address?

Credit searches and an increasing number of online and telephone credit card applications (those which give instant decisions and credit limits) appear on your credit file more or less in real time

the rbs staff bank doesn't work like that. still an old fashioned paper app when I applied at the end of last year.

Moggles_2

Kavanne wrote: »

The rbs staff bank doesn't work like that. still an old fashioned paper app when I applied at the end of last year.

Golly, that sounds so last century.
Is that because you're staff, Kavanne?

IME, Egg, Halifax, HSBC, Mint, the Post Office, Tesco and Virgin give instant decisions and credit limits online or by telephone (provided that they can verify your ID electronically via the CRAs.)

I got instant acceptance from Capital One too but, if memory serves, waited three or four days for the limit.

Kavanne

who knows why it is, it just is

Moggles_2

Kavanne wrote: »

Who knows why it is, it just is.

Dear me, I can't remember the last time I completed a paper application.

Twister84

Darn, where's the multi-quote button when you need it? :rolleyes:

cifpower wrote:

The only way you could tell if you have been accepted is to ring the company and ask. A search is only indicative of the fact that you have been searched. The account info will only show up on your file if you have been accepted and the appearance of this data will not be immediate.

Thought so, - I rang them but they're closed, and I'm impatient

Kavanne wrote: »

good to see bank staff know all about credit searching.

*Sniffs around* Is that sarcasm I sense? I know how credit reports worked, but I didn't know if the decision was available instantly, ie if it shows up, it's obviously been accepted, if it's declined, then it won't. Glad I asked now because I'm getting conflicting info :rolleyes:

Kavanne wrote: »

your credit report will never show whether it's been accepted or declined, yourbank will send you the decision through the post.

Read reply above.

Kavanne wrote: »

the rbs staff bank doesn't work like that. still an old fashioned paper app when I applied at the end of last year.

Won't they just re-key what I've sent off and the decision be made there and then?

Kavanne

Twister84 wrote: »

*Sniffs around* Is that sarcasm I sense? I know how credit reports worked, but I didn't know if the decision was available instantly, ie if it shows up, it's obviously been accepted, if it's declined, then it won't. Glad I asked now because I'm getting conflicting info :rolleyes:





Won't they just re-key what I've sent off and the decision be made there and then?

I am not longer sure what you are asking about your credit file so I shall leave that

yes but i wouldn't hold your breath as they lost 2 of my apps before finally managing to process one