If applying for credit online and you get told they need more time to process, are you usually denied?

Question

I applied online for a credit card offer I was given. I was trying to balance transfer and considerable sum of money. after entering my information I was told they needed more time to process my application and I would hear back in the mail. Does that mean I am most likely declined or do they really just need more time?

Answer 1

No. This just means that they are waiting to check out a more recent credit report. Either you have applied for too many credit cards at the same time, you are over your credit issuance amount which is determined by your age, the length of your credit history or you are charging up a storm.

It can also mean that the particular site you were on did not have availibility of a representative you can approve credit at the moment.

It can be many things. It doesnt always mean you have not been approved. But it could mean that too. They just need time to send you a notice explaining why.

Answer 2

It means your application does not qualify for automatic approval for one reason or another. One common reason is certain info you entered does not match to the credit report they have, and therefore will need a live person to verify and approve. Unless you have a bad credit history, chances are you will get approved. Good luck.

Answer 3

Applying for a credit card online is risky. You have sent all your personal information to who knows where. Usually if you are to receive a letter, it is a denial letter. This will entitle you to a free credit report that usually costs you to get.

Go to your local bank or credit union and apply there. Safer!

Answer 4

I think your declined. Because I applied last week to a few and when told me that. I would get a letter in the mail saying I wasn't approved.

Answer 5

Not necessarily but chances are slimmer......

If you do get it it will also be a low limit and high interest rate.

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