... after you submit the application and the screen says "your application has been approved"... would it still be possible for the card issuer to review your application again and eventually decide not to open an account for you?
(My sister and I are having a disagreement about this, so please help us settle the issue. :) THANKS!)
2007-08-04 19:58:08 · 12 answers · asked by Anonymous in Business & Finance ➔ Credit
They can review you account at anytime and reduce the limit or decide to cancel the account.
But the initial approval means the card will be issued from that initial application.
2007-08-05 01:11:10 · answer #1 · answered by Anonymous · 0⤊ 0⤋
No, I would hesitate to think that they went to the expense of the web page and site for you to complete an application without the intent to obtain new business. Once you are approved your should be approved; however, some time they don't specify an amount of the credit line, even though you requested one for $5,000.00 or that they were advertising credit lines up to $20,000.00. You could end up getting only $300.00 as that generally is the smallest amount offered by most credit card issuers. The issuing company can reduce, increase or cancel your card at anytime as it is their right, and you do not have to have been late or over the limit or anything. They can just cancel it because they don't like you anymore. Generally, they wouldn't unless they pulled a routine credit check on you which they have the continuing right to do, and find that you are in a stressed credit position with several other creditors. They may take the position that they don't want to be next and cancel the card and/ or freeze it from further use temporarily. Who won?
2007-08-10 02:24:32 · answer #2 · answered by H. A 4 · 1⤊ 0⤋
When you get an approval, you're ok. But ask if the credit card company has record of your application, they certain do.
The system already calcuted the number and made the decision without any human being touching it. I used to work as a credit analyst back in the day when you entered the information, the system would give you a score. This score will determine whether you're approve or not. The credit analyst will review it and determine what credit line you're approved for.
They will give you a card, don't worry. I don't know how much they'll give you depends on other factors.
2007-08-05 03:47:57 · answer #3 · answered by Anonymous · 0⤊ 0⤋
PJ is correct. The issuer of the card can revoke the card at any time.......even before you get it in the mail. They base these decisions on credit reports that they receive. If you get approved on line, then two days later you file for bankruptcy, you can be sure the card company will cancel that card before it ever reaches your mail box.
Same thing can happen if someone else reports you for serious late payments. I've had cc companies reduce my credit line from $5,000 down to $1,000 instantly because of past due credits. One just canceled a card once. I went to use it, and it was denied. When I called, they said "You defaulted on some other company's cards, so we decided you were a bad risk and canceled your credit.
2007-08-09 12:03:46 · answer #4 · answered by Let me steer you 7 · 0⤊ 0⤋
Nromally if you apply online for a credit card they state they will send you a confirmation. Depending upon the type of card you are applying for they may very well approve then. the system has a procedure that runs your credit and can approve you. I would wait though to actually get the card in the mail as you never know what may happen. Be careful of the terms! They can be sneaky.
2007-08-12 13:58:51 · answer #5 · answered by sdavila42 2 · 0⤊ 1⤋
Probably not. The system checks your credit rating when you submit the application on-line and most of them can do approvals in seconds. If you meet their minimum criteria then approval is basically instantaneous.
2007-08-04 20:37:49 · answer #6 · answered by Bostonian In MO 7 · 0⤊ 1⤋
as long as everything you put down on the application was honest and you made what you said you did and have enough to cover the bill each month i see no problem, we have got them this way quite a few times never had any problems with it, i also have heard of them turning some down because the person lied about their income, they go over almost everything before they will issure you a card, hope it goes ok for you, mike
2007-08-11 11:54:39 · answer #7 · answered by mdwright48 2 · 0⤊ 1⤋
only confirm you're on a secure community and that i does not do it on a public computing gadget (like at a library). that's regularly extra maintain than doing it by means of mail. once you place the mail on your mailbox and placed your little crimson flag up, you have only informed thieves which you're mailing something. they seem interior and notice that there is an envelope addressed to Visa, which in an identity thefts techniques is like hitting the lottery.
2016-11-11 06:30:46 · answer #8 · answered by ? 4 · 0⤊ 0⤋
No. I don't think so. Once you're approved, then you are approved. However, sometimes, it takes a while for them to send out the new card.
2007-08-04 20:06:56 · answer #9 · answered by Bryan 5 · 0⤊ 1⤋
when u get to the last screen ur done n yes u got it good luck with ur spending habit
2007-08-10 15:35:42 · answer #10 · answered by ignacio b 1 · 0⤊ 0⤋