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Luma Application
Comments
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a decision! In this day and age 2 days to say yes or no is very bad.
It's not always as simple as saying yes or no. They need to analyse your application, credit report, any information provided by other agencies such as CIFAS and National Hunter, check your identity etc.
Your application has more than likely been referred to a human underwriter to determine the decision and that'll only be as quick as they can work - I'm sure they have many applications to work through each day.
Patience. You'll find out their decision when they've processed it. It's a pain in the backside not to have an automatic instant decision but that's life. Good luck.We’ve had to remove your signature. Please check the Forum Rules if you’re unsure why it’s been removed and, if still unsure, email forumteam@moneysavingexpert.com0 -
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Did you get the card in the end?!0
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no they declined me. so I closed my capital one card down.
That seems a bit silly.
You've effectively closed down your Caplital One account because they wouldn't give you a second card.
Was your Capital One card a secured card? That's just about the only reason anyone would want a Luma card in preference to a Capital One card.
Oh well, next stop Vanquis. Unless you have another credit card. In which case, I'd wonder why you wanted the Luma.0 -
For future reference, credit reference agencies have 'opening hours' for enquiries from lenders. These are available on their websites (might be difficult to find so probably best to google them). From the Experian website:
Experian's databases are updated on a daily basis to ensure our information is current and accurate. Whilst updates take place, our databases are taken offline.
Online database access for UK and European Reports
Monday - Saturday: 06:00 - midnight
Sunday: 09:00 - 18:00
So what that means is that if you apply for a credit card online outside of these hours then you are very unlikely to get an immediate response as the lender's system is unable to access your credit file. You will almost certainly get a referral that will have to be manually processed - i.e. a 7-10 day wait.
The only exception to this I can think of would be if you have a significant history with the lender and they score you based on internal records but I don't know how this works.
The short of it is, if you are in a hurry and want an immediate decision, ensure you apply while the CRA database is online!0 -
Because I have higher limits on other cards and don't need it. Why keep something with a £200 limit when it appears, to them, to go against you when you apply for a better rated product. So I closed it and will try for Luma again in a few months.I'm confused, you were declined the Luma card so you closed down the Capital One card? may I ask why?0
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