12/27/16 - Eq683 TU666 Ex681 04/05/17 Eq742 TU763 Ex757Has anybody called to explain, or send a message while their application was under review v.s. just waiting until it's either approved or denied? I have an app under review now and I was considering reaching out to them explaining that I've been aggresively paying down my balances and while it may not be refelcted on my CR, they can see it by looking at my account and/or I can send them updated balances. We're talking over 30% util drop so I'm almost positive it'll help me.
I've updated your subject to reflect your approval. feel free to edit it if you would like. --UB, myFICO Mod
Message 1 of 9How long has it been in review ? anything over 3 days is almost always a denial of it hasn't been that long just wait it out a bit. But I have sent a secured message to them about a review
Message 3 of 9 Valued Contributor@Anonymous wrote:Has anybody called to explain, or send a message while their application was under review v.s. just waiting until it's either approved or denied? I have an app under review now and I was considering reaching out to them explaining that I've been aggresively paying down my balances and while it may not be refelcted on my CR, they can see it by looking at my account and/or I can send them updated balances. We're talking over 30% util drop so I'm almost positive it'll help me.
Thanks!
They initially denied me, and when I asked them to reconsider, it went into review again. I proactively sent them an SM and explained my situtation honestly, and attached a copy of my latest paystub and screen grabs of several cards I had recently paid off that would not have been reflected on my creditr report at the time. The thanked me for the information and approved me for my first 5 figure CL.
NFCU MR: $25K | Venture: $21K | Amex ED: $18K | NFCU CR: $18K | Amex BCE: $15K | IT #1: $17.5K | PNC Core: $15K | PPMC: $12K | Wells Fargo: $11K | Savor: 12K | Cap1 QS: $8.5K | Barclays Rewards: $7.75K | IT #2: $7.3K | MLife: $9.5K | Sportsman's Guide: $8.7K | PenFed PR: $5.5K | Elan Plat: $2.3K | TRV: $3.6K | BotW: $3K
Current FICO 8 Scores: EQ: 828 | TU: 805 | EX: 814
Message 4 of 9 Frequent ContributorIf I remember correctly, both my CC and CLOC showed "under review" for a week or more after I was approved. I'm thinking it just takes them a while to update their web site.
12/27/16 - Eq683 TU666 Ex681 04/05/17 Eq742 TU763 Ex757
Mine never got denied, I didn't even wait. Like you, I KNEW what my situation was, and in this case util was much better than what was reporting.
I actually ended up calling after about an hour (I was also in a time crunch for this loan), spoke to a CSR who spoke to the underwriter and they got me approved. This wasn't necessarily a recon, more of a "hey, I know my util is being reported at 87% but it's actually less than 50% now, and I'm still making huge payments to bring it down further". Lucky for me I actually bank with them, they saw that I did in fact pay the cards I said I paid and voila, approval.
To all others I would leave you with the following advice: YMMV.
If your situation is similar to mine by all means go for it. I wouldn't say this works to explain a long list of negative reported items, but it most certainly works when you need a loan for something and you know that without a doubt you would be approved if your CR was actually updated in realtime. If my CRs were updated sooner I'd qualify for this product and many more. Income, Credit History, etc all lined up and I'm glad I got approved!
Now I've got to work on my CLI, the wife is at 24k, I'm at 3.7k. Her util is less than 87% and mine was 79% when we applied for our cards.
