Told to wait 48 hrs

wulfhere

Hi, I just applied for a card with Egg and was told to wait 48 hours - does this indicate a negative outcome or is it normal? Thx.

cifpower

They just need to take out further checks. You can't take an acceptance or decline from this

mab2000

I got a message similar to that when i recently applied for a virgin cc. 10 days after i applied, I assumed that i had been rejected as i heard nothing. Later that day I received a text message and e-mail telling me that i had been accepted. So Really i dont think card companies saying they will get back to you is just another way of saying rejected.

wulfhere

OK. Not sure I'd be able to wait 10 days though as I need to shift the balance before early March.

wulfhere

OK, got accepted for the Egg card but didn't get nearly the limit I needed - less than half. So now I've applied for the Halifax Plus card. Again I was told to wait 10 days for a response - problem is that I need to shift the balance before early March. So, now I have the dilemma of whether to wait 10 days for a response, risk rejection and lose time, or, apply for another card in the meantime, which could impact my credit score because of extra searches on my credit score, right? Anyone else had experience of this dilemma? Thx.

CannyJock

wulfhere wrote: »

OK, got accepted for the Egg card but didn't get nearly the limit I needed - less than half. So now I've applied for the Halifax Plus card. Again I was told to wait 10 days for a response - problem is that I need to shift the balance before early March. So, now I have the dilemma of whether to wait 10 days for a response, risk rejection and lose time, or, apply for another card in the meantime, which could impact my credit score because of extra searches on my credit score, right? Anyone else had experience of this dilemma? Thx.

In my experience, subsequent repeat applications result in ever decreasing credit limits being offered, so there's a chance that Halifax will offer you less than Egg. Any new searches won't affect Halifax decision.

If these are the only applications for credit that you'll need this side of July, and you're determined that you need it before March then your best bet is to pile in the other applications rather than following the usual advice of "1 application per month". This will make you look increasingly desperate to lenders, so they will soon start to decline you and be reluctant to touch you again for some time.