Credit Cards - Applications via Website

HD1

When you apply online for a card and then get the "we will let you know in 7 - 10 days" does anyone know what they actually do to further evaluate your application that they can't do there and then and give an instant decision.

Preumably an unacceptable application would get an instant rejection.

Thanks...just interested.

opinions4u

There are three potential outcomes.

- Yes
- No
- Not Sure

If It's a "Not Sure" then yes, there will be some sort of human intervention.

HD1

opinions4u wrote: »

There are three potential outcomes.

- Yes
- No
- Not Sure

If It's a "Not Sure" then yes, there will be some sort of human intervention.

Understood....but do you know what do they do to get from "Not Sure" to Yes or No.

marksoton

HD1 wrote: »

Understood....but do you know what do they do to get from "Not Sure" to Yes or No.

Normally an underwriter will look at the application.

Mips

marksoton wrote: »

Normally an underwriter will look at the application.

I had that in the past .. they rang me up to confirm details and double check employment and incomings and then said yes

HSBC just gave me one with £500 limit but it was paid off and cancelled in 6 months. Nice green 'satisfactory' mark on my credit file

HD1

marksoton wrote: »

Normally an underwriter will look at the application.

Thanks...sorry to be pedantic...but I am trying to find out what does he/she actually do ?

Mips

HD1 wrote: »

Thanks...sorry to be pedantic...but I am trying to find out what does he/she actually do ?

Looks into the information provided more thoroughly to determine whether you will be able to cope

It could just be that there is a bit of a grey area on your credit file for a number reasons.. could be something or nothing.

marksoton

HD1 wrote: »

Thanks...sorry to be pedantic...but I am trying to find out what does he/she actually do ?

As Dippy says. Some providers will not give an instant decision "out of hours" either. All 6 of the credit cards i have were applied for online. Amex were the only ones to not give me an instant decision.

So it would appear to vary depending on the provider.

Mips

marksoton wrote: »

As Dippy says. Some providers will not give an instant decision "out of hours" either. All 6 of the credit cards i have were applied for online. Amex were the only ones to not give me an instant decision.

So it would appear to vary depending on the provider.

If its borderline.. they will ring you up and go through it, if they dont ring you up they have probably declined you and you will receive a letter.

IF you are desparate for a card, keep your file clean for 6 months and try again

HD1

Dippychick wrote: »

If its borderline.. they will ring you up and go through it, if they dont ring you up they have probably declined you and you will receive a letter.

IF you are desparate for a card, keep your file clean for 6 months and try again

My question is due to a Sygma Silver Card application.
I have a clean Equifax file ..I mean totally clean ...Elec Roll OK , Bank Account OK, no Searches, but no current credit history (ie. no current cards ...paid them off a long while ago).

Is this why the underwriter would be involved, and why I may be rejected.

Mips

HD1 wrote: »

My question is due to a Sygma Silver Card application.
I have a clean Equifax file ..I mean totally clean ...Elec Roll OK , Bank Account OK, no Searches, but no current credit history (ie. no current cards ...paid them off a long while ago).

Is this why the underwriter would be involved, and why I may be rejected.

I am sure you will be fine, they will look into it for you. Do you not have a contract phone no?