Credit approval...

[lenshanem]

Why haven't they called us yet to say that we're approved on our credit application?!?
I faxed credit application Tuesday, fed exed paperwork same day. Yesterday (Thursday) I called and they told me it was still in credit underwriting and could take up to five days.
I have read numerous times on here that people got answers back in a day! My guide even told me Wednesday that it should be in the computer that night.
When I first faxed the credit application I asked if they called to tell you it was approved. She told me no, you will only hear from us if it wasn't approved and they would send a letter. So I asked our guide to call us and let us know cause I want to know!
I wasn't even worried about not being approved until the days started going by. Then I started thinking gosh...are they not going to approve us?!? Am I just paranoid here or is DVC credit hard to get? I thought we had pretty good credit.
Just getting nervous and want some reassurance that others had to wait, too.

 

[Maistre Gracey]

We have six contracts, and have financed four (before paying them off). Each time we received approval by written notice in the mail.

Good luck.....

 

[Maistre Gracey]

PS-- You could always call member accounting......

 

[lenshanem]

Thanks. How long did it take to get the approval letter?

 

[KathyR]

If memory serves me correctly, we got our approval letter in about a week Of course, this was a few years ago. However, my brother just bought in a month or so ago, and I believe his came in the same amount of time.

 

[Maistre Gracey]

Originally posted by lenshanem
Thanks. How long did it take to get the approval letter?

It is hard to remember, but I'm thinking about 10 days after I sent my stuff back.

PS- I re-read your original post, and see that you did call. How about calling your guide?
If you have okay credit, you should be fine. If it is less than okay, they will generally just ask you to make a larger downpayment.

 

[lenshanem]

OK, I just need to drink a glass of wine tonight and chill...
My hubby last night was thinking I'm nuts for even worrying.
I've become so obsessed over this whole DVC thing!!! (I'm kinda a compulsive type, thus my Disney obsession!)
Our credit is fine, I just want an answer and want to close! NOW! LOL
First it was waiting for the video, then the info packet, then the paperwork, now I'm waiting for the approval letter. I'm gonna drive the mailman crazing running out to him each day. He might think I have a crush on him!

 

[Doctor P]

Our was straightforward and approval took about a week or more as I recall. Remember that there is no hurry, because nothing can move forward until the 15 day cooling off period is over. I hope you hear soon...I know it can be nerve wracking.

 

[lenshanem]

Guide just called me. I thought that was very nice he remembered I had asked him to let me know when we got approved. Said it still hasn't been completed and that he is off Monday. Will call me Tuesday and let me know, thought it should be completed by then. I'm not so freaked out anymore. I'll be just fine! LOL