instant decision?

danlightbulb

Hi,

I need to apply for another CC for a balance transfer.

Already have a Barclaycard so MBNA is the next best for me.

I note from the T&C's that if you apply online in normal working weekday hours it says you 'could' get an instant decision. Outside of these times it 7-10 working days.

How likely is it that these instant decision things work out? Is it worth me waiting till tomorrow to see if it does (I was going to sit down this afternoon and sort it out).

Also, although I have a good credit history I do have high debt value of around 10k. I think a few years ago I was refused an MBNA card, although no problems with getting a Barclaycard about 18 months ago.

Is there any way to discover likelihood of acceptance with MBNA, I dont want to waste a credit search. I was also looking at the Fluid card which is only 15 months but gives you a soft search first.

Thanks
Dan

[Deleted User]

i think the operative word is "could"

SCO

Normally most companies will give you an instant decision anytime unless refering you for other reasons.

I applied for a tesco card after working hours and got a instant decision.

sfax

Instant decisions are automated so I would have thought if the website and the dependent companies' websites (CRAs) are all online, you'll get an instant decision (accept, refer, fail). Try Nationwide soft search for indication first

Eydon

I got an instant decision from Amazon (MBNA backed) on Saturday evening.

richard734

its dependant on a number of factors. on average, instant decisions will be made on approx 97% of applications. Thats an instant Yes or an instant No. Around 3% of applications will go into what we loving call 'Refer Status' where a manual processing of the application is required.
What causes a 'Refer'? It can be anything from teh Credit Check agency didnt respond within an agreed time (so you were not left watching a rotating hourglass for 3 hours), or somethjing tripped a response for manual work, same name as a known terrorist or money laundering person on one of the 'watchlists', being in an area known for high fraud (Post Code normally) uncheckable addresses (normally houses with multiple flats 21 a/b/c/d etc) or a marker on your file that puts you only 1 or 2 points into a 'No' decision. IE you only get a No because your current address is 11 months and not a full year.

LMH67

I got an instant decision from the Post Office online on Wednesday and my card arrived Saturday. They are doing 0% balance transfers I think so might be worth a look.

ninjablossom

I applied to capital one for a 0% balance transfer and I just got a 'we will be in touch for more information' response. The card turned up 2 weeks later with a surprising credit limit. Very bizarre.