In hopes of being able to build up our credit & with advice from our banker, we decided to apply for a Target Credit Card (we were denied by our bank because we haven’t had credit for 1+ years). Well anyway, we applied and the cashier lady said that our application is being reviewed and we’ll have an answer in 7-10 days. Usually you get approved or declined right on the spot, no?
Is that just another way of being declined? My Husband has a credit score of 710, so I don’t think it’s our initial credit that’s the problem. We also don’t have any late payments, collections, or loans.
I just wanted to know what that means when they need a longer amount of time to review our application.
I asked the cashier and she said she didn’t know. She said “The computer says here that it will need to review you application further & they’ll give you an answer in the mail in 7-10 business days”.
#1 by Japalena's having a boy! on September 7, 2009 - 5:08 pm
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It could mean just that … they need more review.
You will either get a phone call or letter from them requesting additional information, a decline letter, or a credit card in the mail.
#2 by jlf on September 11, 2009 - 12:44 am
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It means that the automated first review of your credit record did not yield a clear “approval” threshold. You’ll just have to wait.
#3 by sassy25 on September 12, 2009 - 7:31 am
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No. Only people already with credit cards get approved on the spot.
You are being treated as a new comer to credit cards. If target turns you down, try Kmart.