Are 'Credit checks' Autotated? (automatic?)

Danny_G

When applying for a loan - credit card etc,... and they do a credit check, are these automatic (by computers) or in the week of the check, they do it manually?

if automatic, is this using a point scoring system or other way?

Danny_G

wrangler5 wrote: »

Depends on how much information they are able to gather electronically. Sometimes they refer your application for a manual check, sometimes they don't. Last night i made 2 applications, one gave an instant approval and the other was refered for manual checks then declined. It just depends on which company you are dealing with & how much info they are able to gather.

congratulations on the acceptence.

what did you apply for, 2 mortgages? hehe

or must have been cards. Which one exepcted

Danny_G

wrangler5 wrote: »

Depends on how much information they are able to gather electronically. Sometimes they refer your application for a manual check, sometimes they don't. Last night i made 2 applications, one gave an instant approval and the other was refered for manual checks then declined. It just depends on which company you are dealing with & how much info they are able to gather.

Which application got accepted?

nitikasnv

wrangler5 wrote: »

Depends on how much information they are able to gather electronically. Sometimes they refer your application for a manual check, sometimes they don't. Last night i made 2 applications, one gave an instant approval and the other was refered for manual checks then declined. It just depends on which company you are dealing with & how much info they are able to gather.

Yes, you are right, this is what happens actually, because it happens with me too and it took lot of time no doubt, sometime it do takes less time like it gives you instant approvals.

Every credit card company has its own criteria so, they follow such criteria accordingly.

izools

Also if you are declined by an automated credit scoring system, you have the right to request a manual review - which is best backed up with an appeal letter to help the person performing the manual review the "right" decision