Can You Still Get Approved if Comenity Bank Under Review Response
Credit carte du jour awarding pending? Don't worry, follow these steps
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Take you ever received an "application pending" screen after applying for a credit carte du jour? If not, permit me tell you how deflating information technology is. Evaluating your travel goals, choosing the perfect rewards credit card with the perfect welcome bonus, and filling out the awarding takes mental free energy. By the fourth dimension you lot click the submit push, you're already concocting trips with the card's giant welcome bonus.
The terminal thing y'all want to run across on the next page is "DECLINED" or "PENDING." If you employ for lots of credit cards(similar us) then it'll happen to you at some point. Simply recall that information technology'due south normal. Everyone on the squad has seen this message earlier, and we have really proficient credit.
I'll explain what to do about information technology and why this message might appear. And be certain to read our credit card application tips to practice before opening your next travel card.
What 'application pending' and 'nether further review' means
Banks tout their ability to requite you a credit menu application verdict "in 60 seconds" (or something similar). However, you almost certainly won't receive an immediate reply if you lot apply for credit cards at the rate of normal MMS readers.
If after you submit your application y'all're taken to a landing page that says "awarding pending" or "nether further review," that's swell news. The banking company is but saying, "I don't know still, I'll get to it as before long as I can." Yep, it's always best to be canonical on the spot, only a "pending" status doesn't mean you've been denied.
Why your application may need farther review
The factors credit card issuers use to decide whether to approve an application we just practise not know — nor does anyone else. It goes across simply a simple credit score.
Here are some examples.
Credit card application restrictions
Each credit bill of fare comes with its own set of rules for blessing. If you've violated these rules, you're either unlikely to be canonical for the card or unlikely to earn the carte'south welcome bonus. Here are some examples of credit card application rules
- Chase five/24 rule: If y'all've opened five or more cards from whatsoever bank (excluding virtually pocket-size business cards), you won't be canonical for the best Chase credit cards
- Chase Sapphire rule: You can only open a Hunt Sapphire carte if you don't currently take ane. In other words, if you accept the Chase Sapphire Preferred® Menu, y'all tin't open up the Chase Sapphire Reserve® unless you lot first cancel/downgrade your Sapphire Preferred.
- Banking company of America 24-calendar month rule: You lot can't open certain Bank of America cards more once every 24 months
- Citi AA 48-month dominion: Y'all can't earn the same American Airlines carte du jour bonus more one time every 48 months
Subscribe to our newsletterand yous'll learn these rules in no time. They're much less intimidating than they audio.
Inconsistent awarding information
Each time you requesta credit card, the banking concern looks at your credit report to see your credit history and scores. But they as well look at personal information like your proper name and address to see if it matches your credit application.
Your name and address may differ from your file if you've moved or changed your proper noun. A quick telephone call can clear the way towards an approval.
Fraud prevention
Peradventure you lot've applied for several credit cards recently, or this is your second credit menu application in the same day. Banks desire to make sure it'southward yous submitting the credit card awarding and not someone else using your personal information. When y'all telephone call, you might but have to confirm information technology was y'all looking for a new credit menu.
1 of my contempo applications went to "pending," and said the bank needed me to call them. I called, and the amanuensis pulled up my awarding and immediately approved me. She didn't fifty-fifty enquire me a single question!
Income verification
On occasion, the depository financial institution won't approve your card right away considering they'd similar you lot to confirm the income you've reported on the sign-upwardly grade. Some of us on the team have (very rarely) had to provide Amex with revenue enhancement returns to verify income. This is admittedly not typically required, but information technology's a practiced reminder to be honest almost your income.
Along these same lines, if y'all're applying for a small business carte, the bank may desire more information on what kind of a business you've got.
Your credit is frozen
If you've frozen your credit with Equifax, Experian or TransUnion (this is very intentional — you know if your credit is frozen), y'all'll desire to unfreeze it before applying for credit.
Credit report concerns
Your score may be in the high-700s, merely if y'all've got some delinquent accounts in your credit report, or perhaps filed bankruptcy 8 years ago, carte issuers volition take that into account.
My friend'southward application with Chase went pending a few years ago because at that place was an unpaid medical bill on her credit written report. She knew this bill was paid off and explained the situation to the credit representative who then approved her application. Situations similar this is why it'south a good idea to cheque your credit study occasionally to make certain it'southward accurate.
Busy at the banking company
Sometimes banks get overloaded because of the popularity of a terrific express-time offer. They might motility your awarding to pending to have more than fourth dimension to review it.
How long does it take to review a credit card application?
If you're non instantly canonical, it can have several days, even a couple weeks, to learn that you've been denied. They'll send y'all a letter with the reasons why, and also provide your credit score from the bureau they used to pull your credit. To speed up the process, nigh banks possess an automated number or a website that gives you condition updates on your pending application. You can check these as frequently as you like.
If your awarding ends upward being approved, you'll ordinarily receive a welcome email explaining the state of affairs.
What to do if your application is pending
To find out why you haven't been immediately approved, you can call the bank and inquire for the afterthought section. Y'all'll ordinarily get to speak to a credit representative to discover out what's going on. If you lot take a checking or savings account at the aforementioned depository financial institution, sometimes your broker tin contact the credit carte du jour department to run across what information they are looking for.
Nevertheless, we strongly suggest that you not contact the card issuer untilafterward yous've received that formal rejection letter of the alphabet in the mail service. After all, you may even so be canonical for the card. If yous wait until you lot receive that answer, you're basically getting two shots at existence canonical. You can then call reconsideration and plead your example. Read our five tips to brand your reconsideration call a success.
Bottom line
If your awarding is nether further review, that's cracking news! There could be several reasons for the holdup, several of which are easy fixes. Perhaps they merely demand you lot to ostend your accost or income. Only don't call correct away — let them requite you a full explanation of why you were denied, and so gear up to plead your case with the reconsideration line.
Read our post on how and when to apply for credit cards. And for more credit card tips,subscribe to our newsletter!
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Intro APR on purchases
North/A
Regular Apr
sixteen.24%-23.24% Variable
Balance Transfer Fee
Either $5 or 5% of the amount of each transfer, whichever is greater.
Rates & Fees
Annual Fee $95
Other
Credit Needed First-class / Adept
Issuer Chase
Carte Type Visa
Editorial Notation: We're the Million Mile Secrets team. And we're proud of our content, opinions and analysis, and of our reader's comments. These oasis't been reviewed, approved or endorsed by any of the airlines, hotels, or credit carte du jour issuers which we frequently write about. And that's but how we like it! :)
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