Credit Card Processing Speed

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Credit Card Processing Speed

• A presentation examining the speed at which your
  credit card request is processed. I analyze the
  process and stages within the credit card
  processing pipeline to better educate the reader
  on the nature of their credit card request
  approval.
• Presented by
• http//consumercreditsupport.com

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Credit Card Processing Speed

• At the Speed of Plastic
• The first swipe. You just received your fresh new
  credit card, and you are ready to use it.
  Anticipation welling up inside of you like a
  geyser imagining the things you will purchase.
  You are already thinking about that second credit
  card. But, did you know it could take a long time
  for you to get the card processed?

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Credit Card Processing Speed

• First, let's take a look at the processing stage
  of the application. This will give us an insight
  into why it takes a while for you to receive your
  next credit card.

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Credit Card Processing Speed

• The first stage in the processing of a new credit
  card is an analysis by the bank of prior accounts
  with other companies. At this point the bank will
  take an in-depth look at the other accounts along
  with their personal records. They will judge the
  length of time it took for you to receive the
  prior card(s). This is a method the bank uses in
  estimating your actual worth.

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Credit Card Processing Speed

• Most people do not realize that the bank actually
  categorizes the applicants into subgroups. These
  subgroups allow them to estimate the risk
  involved in dealing with the consumer (whether
  you are a good payer, or a poor one).

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Credit Card Processing Speed

• If the applicant is found to be a poor payer
  during the processing stage, the bank usually
  requires the applicant to supply them an
  alternate address where the bills can be sent.
  This is a method the bank uses to insure that you
  pay on time.

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Credit Card Processing Speed

• The Second Stage Unpaid And Delinquent Balances
• The next stage of the process involves the bank
  researching to see if you have any unpaid
  balances or other credit cards processed with
  other banks. This is to check how many cards you
  are able to apply for and if you will be able to
  meet their payments (the bank) once you have
  passed the processing stage. This is known as a
  method of counter-checking to see if you have the
  ability to pay for multiple cards (insuring they
  receive their payments).

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Credit Card Processing Speed

• Due to changes in the global marketplace, and the
  US Patriot Act your identity will have to be
  verified. This is the last part of the process
  (and a very important one). Each bank has certain
  standards and requirements set in place requiring
  certain documentation to prove your identity. The
  key here is to be patient and understanding. The
  banks and financial institutions are under a
  certain level of scrutiny when it comes to
  financial transactions, and the issuing of a
  credit card is no different. Supply the
  information and keep a positive mental attitude
  during the process.

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Credit Card Processing Speed

• In conclusion, there are a few things that occur
  during the processing of a new credit card
  request. To summarize, a bank will research prior
  accounts, check and see if there are any unpaid
  or delinquent balances (with other institutions),
  and will need to verify your identity. Once you
  cross this barrier, you will be well on your way
  to a new credit card.

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Credit Card Processing Speed

• Having issues with credit, debt, or incorrect
  information on your credit report? Watch our free
  presentation today for vital information that can
  help you below at
• http//consumercreditsupport.com