Applied for card, answer in 15-30 days by mail?

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Randiesel75
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Applied for card, answer in 15-30 days by mail?

Postby Randiesel75 » Fri Dec 28, 2012 6:15 am

This is my very first post, so would like to say, thanks for having me!

It's been quite awhile since I've applied for a new card, so was curious on the approval process. Is it normal to not receive instant credit on the spot or is this an indicator I am not approved.

Ok, last night I decided to sign-up for a new Sapphire. Once I hit submit, the response was that it would be reviewed and I would have an answer in 15-30 days via mail, perhaps with a new card. I'm just curious if this means I was denied and a letter of denial is forthcoming.

Cheers,
Randy


Robrus1
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Postby Robrus1 » Fri Dec 28, 2012 4:00 pm

Not necessarily. You can probably call them and get an answer sooner than waiting on it via mail.
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Barclaycard Arrival Plus WEMC 5K
Chase Sapphire Preferred 23.5K
Credit Union 10K
Discover IT 7.75K

Randiesel75
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Postby Randiesel75 » Fri Dec 28, 2012 4:02 pm

Robrus1 wrote:Not necessarily. You can probably call them and get an answer sooner than waiting on it via mail.


Will do, thanks

Midori
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Postby Midori » Fri Dec 28, 2012 10:28 pm

When I got turned down for a Lowe's store card, I decided to work on improving my independent credit history. I applied for a card I knew I could get, but wouldn't want to keep (a Capital One beginner card with an annual fee). Since I knew I wasn't going to keep it for more than a year or two, I also tried for a card with my local bank (Citi ThankYou) which I also didn't really want, but at least it was free, and I could continue to keep it even after I let the other card go.

I had banked with Citibank for seven years, so I applied in-branch (Nov 6th-ish?), hoping that would give me an edge. I heard nothing from them until I got a letter dated the 14th, saying, "Uh, who are you? Can you verify your address? And your phone number? And your income? Please send us an original phone bill, a copy of a utility bill showing your address, and a letter from your CPA verifying your income if you're self-employed. And, by the way, if we don't hear back from you, we totally understand." So I jumped through all their hoops in a response dated the 16th.

Didn't hear back from them. Didn't care to press the issue. I finally get an acceptance letter on December 18th, and my card arrived in the mail by December 20th.

Randiesel75
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Postby Randiesel75 » Sat Dec 29, 2012 11:04 am

I called this morning and was told I was declined. After a quick question and answer session on my past credit issues, I was immediately approved for the CSP. The customer service is no joke, what a great experience.

Thanks much for the assistance!

Randy

MemberSince99
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Postby MemberSince99 » Sat Dec 29, 2012 7:45 pm

Odds are very much in favor of this being a denial since it's Chase. Not 100%, but I'd bet on it easily being say 85%.

HOWEVER the great news is Chase is great with recons. Just call their analysts number , and talk with the analyst. You may have to recon more than once to get the card. I had to recon 3 times to get a Freedom but I burned Chase BADLY 10 years ago.

I hope this helps you and good luck!

Robrus1
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Postby Robrus1 » Mon Dec 31, 2012 10:36 am

Congrats on the approval! It's a great card with a good signup bonus.
Amex Platinum
Amex BCP 21K
Amex SPG 5K
Barclaycard Arrival Plus WEMC 5K
Chase Sapphire Preferred 23.5K
Credit Union 10K
Discover IT 7.75K

Randiesel75
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Postby Randiesel75 » Mon Dec 31, 2012 11:21 am

Robrus1 wrote:Congrats on the approval! It's a great card with a good signup bonus.


I'm planning on dropping the honeymoon on the card to redeem the 40,000 points! I'm very excited.

I think my only concern now is securing a cash back card. As I was just approved the CSP, I'm thinking my best bet is the Discover More card. Would it make sense to apply for this ASAP so this additional pull on my credit is within the same 30 day window?

Robrus1
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Postby Robrus1 » Wed Jan 02, 2013 3:36 pm

It'll still be two separate inquiries on your credit, but if you do it now, Discover won't see the inquiry made for the CSP. Since you got approved for a CSP you should have no problem getting a Discover card. IT card pays better cash back than the More card.
Amex Platinum
Amex BCP 21K
Amex SPG 5K
Barclaycard Arrival Plus WEMC 5K
Chase Sapphire Preferred 23.5K
Credit Union 10K
Discover IT 7.75K

MemberSince99
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Postby MemberSince99 » Wed Jan 02, 2013 4:43 pm

Robrus1 is right - it will count as 2 inquiries against your score. That 30 day window only applies to installment loans such as a mortgage or a car, when they know you will be rate shopping. It doesn't apply to crredit cards - ALL inquiries for credit cards hit your score.

And as far as seeing the inquiry goes, Discover probably won't see it for another reason than you are thinking. It's not due to time, but the fact that Discover almost exclusively pulls EQ for new accounts. Chase tends to pull TU (as they did for me) or EX. They aren't big on EQ. So, Discover probably won't see the inquiry due to that fact.

By the way congrats on the CSP that is the one card left I'd like to get someday but probably never will. I burned Chase badly and you really can't expect to get back in their good graces after that (undestandably so). Anyway congratulations to you that's a great card you got.



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