Applications vs. Approvals

Discussion in 'Credit Talk' started by JE, Jan 2, 2001.

  1. JE

    JE Guest

    How do inquiries impact your Credit Scores if you get the cards you applied for? Say I applied online for 6 different cards, got instant approvals on 3 and 3 say my application requires further processing. These are Citibank, BofA, and Chase. I got NextCard with a pretty decent limit and 9.9 fixed.
  2. Eugene

    Eugene Guest

    No matter if you are approved or not, recent inquiries do affect your score, not very much but still negatively.

  3. Doug

    Doug Well-Known Member

    Say 2 show on Equifax, 2 on Trans Union, and 2 are Experian, very little. But if somehow all 6 ran same credit bureau more so and would hurt your chances in the near future, because of too many inquires in 6 months.
  4. TY

    TY Guest

    If those six creditors used different CRA,you would be OK.
  5. Doug

    Doug Well-Known Member

    May I ask what other two besides NextCard gave you instant approval? Last Friday I apply for Bank of America and been PENDING ever since with the weekend and Monday being New Year's.
  6. JE

    JE Guest

    Capitol One Gold and JCPenneys. What do you mean Pending BOA? Is there a way you can check status of your application?
  7. Doug

    Doug Well-Known Member

    Yes, go to hit on credit cards and look in left hand column for CHECKING STATUS. Screen name, SSN, and Mother's maiden name required.
  8. Doug

    Doug Well-Known Member

    I would take PENDING as they haven't processed it completely. I don't think it the same as a Pending Transaction where you know it will come.
  9. JE

    JE Guest

    OK- I got "no matches found" maybe it is too soon after the holidays. I'll try again tomorrow.
  10. sam

    sam Well-Known Member

    You should realize the credit bureau databases are reflective upon a midnight update. Its very possible if you apply for several credit cards at one VERY short time, that the credit bureau will not reflect the new inquiries nor effect the score.

  11. mj

    mj Well-Known Member


    You're 1/2 wrong on that count -- inquiries post and will be reported immediately, while tape/network updates (your account info from creditors) post overnight.

    I've seen this happen - (long ago) when I worked in new accounts for a dept. store, if I pulled a report and the printer jammed and I pulled it again, my inquiry from 1 minute ago would be on the new report. I noticed that it still works this way when we did a refinance- the bank pulled a report in the branch and the credit processor they used pulled one - both on the same day - the processor's report showed the bank's inquiry.

  12. sam

    sam Well-Known Member

    hmm must have changed. Btw, if you re-pull a report from the same creditor on the same day, its not suppose to soft or hard inquiry, if its a "re-get" in the case of a jam :)
  13. Doug

    Doug Well-Known Member

    Checking Status of BofA

    Received the Congratulations! You've been approved. Your Platinum Mastercard will be mailed out in 5 business days.

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