What applications give an instant online decision

Volcane

Apologies if there's already a list, please refer me to it if so.

Can anybody say what cards give an accepted/rejected decision online (as opposed to a mere "form filling in" exercise) ?

I accept you may always run the risk of a referral but can anybody elaborate further.

My understanding is the following DO give instant decisions but correct me if I'm wrong :

Mint
Post Office
Egg
Capital One
Ulster

The following DON'T EVER give instant decisions to my knowledge :

Goldfish
Virgin (any MBNA?)
Alliance & Leicester (MBNA)


Any additions to either list?

noh

In my direct experience over the last few weeks the following do give an instant decision if the application is made during the day on a weekday.

Virgin
Halifax
Mint

And the following do not

Abbey

withabix

It all depends on your credit file and your score on their application system.

If you've not got a <probably very good one these days> you won't get an instant decision for any of them.

Beware of doing lots of applications as well - the more you do, the lower your credit score will be (as they appear on your credit file at Experian/Equifax) and the increasingly less likely it will be for anyone to lend you money.

noh

The providers that have the systems in place do give an instant decision, it could be one of three answers Accepted Declined or reffered.

My strategy was to apply to all the providers above on the same day. That way they only see the previous searches not any potentially available credit.
Did the same about 18 months ago. Managed to obtain £45k for stoozing.

Nigel

clio

Asda card does as well, so does the Argos credit card.

formerchamp

noh, can I ask a question,please?

£45k for stoozing, how much adrenalin can one person cope with? I am umming and ahhing about £5k on my new MBNA card, applied for one on the sole basis that I would use it for stoozing and no other reason. Now in danger of bottling it.

How do you do it?

I think that's technically 3 questions, oops!

NickX

To be honest £45k isn't that much in stoozing terms.

I have also done similar amounts, but on the stoozing board there are people with up to £250k stoozed.

formerchamp

My hubby already thinks I am off my rocker even thinking about stoozing, I daren't show him this thread he'd have a baby!

I suppose if you can get that much on credit then you don't need to worry about your credit score, isn't that a catch22 or something?

There I go again with the questions...

NickX

Generally you need an excellent Credit Score to commence stoozing because you need to get accepted for 0% cards.

However, by making many applications in a short period of time (as you may do as part of the stoozing process), can damage your credit rating. This should only be temporary though and as you pay back the debts and settle the cards, your Credit Rating should improve again.

[Deleted User]

http://forums.moneysavingexpert.com/showthread.html?t=209304

noh

formerchamp wrote: »

............
I suppose if you can get that much on credit then you don't need to worry about your credit score, isn't that a catch22 or something?

There I go again with the questions...

That about sums it up. My credit rating is good and Im lucky enough to be in a position where I don't need credit.
I apply for a few cards with 12 months or more at 0%, my credit rating gets damaged a little but in a years time when the cards are paid off my credit rating is back where it was or even improved as even more history is available to show that my accounts are managed properly. I can then apply again for more cards.

Nigel