Instant online descions

cheeky-virgin

which lendor are offering instant descion about ur credit card while you are applying online and which credit reference agency they r using ?


Thanks

Saucepot

Sainsburys bank offer an instant decision. Not sure which agency they use.

Astaroth

Most companies give you an indicative decision straight away but all of them then make further equiries upon receipt of the signed credit agreement.

YorkshireBoy

Astaroth wrote:

...but all of them then make further equiries upon receipt of the signed credit agreement.

My Virgin (MBNA) credit agreement had my £12K limit already shown on it when they asked me to sign and return it. What "further enquiries" will they have done on receiving it?

slowlybutsurely

Marks and Spencer '& more' card has just declined me!
I have no loans a clear credit card a clear store card and have what i thought was a great credit history.
any ideas?

MikeyB_2

When I applied for my Egg (Green) card I was given a decision (successful) and the credit limit there and then

The same goes for my later application for an Egg Money card, although I'd been a reliable Egg customer before applying for that one

Astaroth

I cannot speak for MBNA but they will typically do things like a CIFAS checks which run by batch over night etc

bert&ernie

Many lenders can give you an instant decision either online or over the phone in most circumstances. However, there are two main reasons why this may not be possible even if the lender's technology and processes allow it:

1. Your application has been referred for manual underwriting - you get a letter when the final decision is made.
2. The credit bureau is unavailable - if there are technical problems or you apply outside of bureau hours they will queue the application until the bureau becomes available. You'll get a letter or e-mail when the decision is made.

CIFAS checks are usually done online i.e. if CIFAS warnings are returned from the bureau, then the application will be referred to a fraud underwriter. Many lenders also employ additional fraud protection measures during overnight batch processing such as MCL Hunter. They may also carry out manual anti-fraud checks before actually opening the account, but these will concentrate on verifying that what you have told the lender is true. Providing that you haven't told any porkies and you aren't trying to launder money or fund terrorism, you should be OK once they have told you you have been accepted.