Capital One: online application requires further verification

bittennails · 23 September 2005 at 10:29PM

Hello

Has anyone else here recently tried to apply online for the Capital One card with the 16 month 0% balance transfer facilty?

I've just tried to apply (10pm) and received a message saying my application would require further clarification and I would receive a decision from them within 10-14 days.

Is this a bad sign? Does it mean there could be a problem or is this sort of thing quite normal?

Many thanks

BN

Niteflyer · 23 September 2005 at 10:40PM

bittennails wrote:

Hello

Has anyone else here recently tried to apply online for the Capital One card with the 16 month 0% balance transfer facilty?

I've just tried to apply (10pm) and received a message saying my application would require further clarification and I would receive a decision from them within 10-14 days.

Is this a bad sign? Does it mean there could be a problem or is this sort of thing quite normal?

Many thanks

BN

Every single time that has happened to me, they have replied with a decline!

Instead of saying "NO" they look at your application in more detail and then say "NO".

To be honest, you are cery likely ot be declined this time if that was the message you received after submitting your application.

You can however appeal the decision once you get the letter.

Do you have any other credit cards or lines of credit? Do you have a good credit record?

Matt

mhendo · 23 September 2005 at 10:44PM

Doesn't mean its a certain decline.

I got the same message, and was accepted within a couple of days. And got £6000 limit.

Niteflyer · 23 September 2005 at 10:45PM

mhendo wrote:

Doesn't mean its a certain decline.

I got the same message, and was accepted within a couple of days. And got £6000 limit.

Nice one

I was just going by my experiances

I hope you get the same luck as mhendo

bittennails · 23 September 2005 at 10:49PM

Niteflyer wrote:

Do you have any other credit cards or lines of credit? Do you have a good credit record?

Matt

Hi Matt

Thanks for the reply.

I was thinking the same thing - I was declined a capital one card years ago - yet accepted at lots of other places.

To the best of my knowledge my credit record is good - no defaults or anything. I do have another card and was hoping to do a card transfer. The problem is, I need to do a transfer within the next 6 weeks, or I'll start paying interest.

I assume the capital one application will now show up on my credit file... :-(

So is it best to assume the worst and try somewhere else, or give it 10 days for the (almost inevitable?) "No" from capital one?

Best Regards

BN

mhendo · 23 September 2005 at 10:51PM

I've never ever ever had an "instant" decision from any company. They always get back to me after a few days. I just assumed these "1 minute decisions" were just something that never happens.

Think its something to do with my address (everyone uses the Royal Mail format except the Council for the Electoral Roll). So I often get a company saying "you don't live there". LOL. Waited in a sofa shop for 45mins once for them to verify my details.

I'll be glad when I move address!!!

bittennails · 23 September 2005 at 10:56PM

mhendo wrote:

Doesn't mean its a certain decline.

I got the same message, and was accepted within a couple of days. And got £6000 limit.

Thanks for your thoughts on this :-)

So maybe it's worth waiting to see what they say...?

I assume this application will go on my credit file any way - just hope it doesn't affect my chances too much elsewhere.

Regards

BN

Niteflyer · 23 September 2005 at 11:00PM

bittennails wrote:

Hi Matt

Thanks for the reply.

I was thinking the same thing - I was declined a capital one card years ago - yet accepted at lots of other places.

To the best of my knowledge my credit record is good - no defaults or anything. I do have another card and was hoping to do a card transfer. The problem is, I need to do a transfer within the next 6 weeks, or I'll start paying interest.

I assume the capital one application will now show up on my credit file... :-(

So is it best to assume the worst and try somewhere else, or give it 10 days for the (almost inevitable?) "No" from capital one?

Best Regards

BN

Personally, if you have a good credit file, I would wait and see, they may write to you in a few days and say you have been accepted

(hope they do) and in which case, you got the card

But.....if you start applying for other cards now, it could adversly affect your credit as too many searches on your credit file will look bad and could cause you to be declined for one of the cards with a lower limit.

I would wait til they write to you, if you are declined, call them and ask why

Appeal if you want to (baring in mind that this will take longer and you only hace 6 weeks) or apply for a Capital One classic with lower limit and rebuild your credit, then, after a few months re-apply

Just my opinion

Matt

stumpjumper · 23 September 2005 at 11:23PM

I've just had the same thing. I'm hoping it's because I've only lived at my curent address for 1 year and they need to search my previous address.

I've still got bank accounts and a HP agreement (with capital bank) at my previous address (my parents house-I can still get my mail) - is this going to be a problem?