When somebody files for Citibank, the reef entered into our credit process, we do the minimum checks on income age and and residency, we do a risk profiling which incorporates a call to the credit bureau.
And on the basis of that information, we make an assessment on the risk profile of a customer, do research on his income and employment verification and we decide whether we accept the application or decline it.
Once you’ve been accepted, you will receive confirmation through the mail. And if you’ve requested a balance transfer when you sent the application, we will immediately on the activation of the credit card, which you will then call in to activate your card that you’ve received.
We will initiate the balance transfer process and it’ll typically take 10 days. So from application, within a couple of days, you should know whether you’ve been accepted or declined. If you’ve been accepted and received your card in the mail, you will need to call up and activate it so that we know you’ve received it.
And when we’ve had the confirmation that you’ve received and activated it, we will then commence the process of the balance transfer and that can take up to 10 days, in fact it can be a lot quicker than that, but generally speaking, it’s all done within 10 days.
If we are able to verify your income and employment within a day, you might have your card within 5 days, you can call up and activate it, you will process the transfer and it could all be done within 15 days.
But there are parts of that process, which are in the consumers hands or the applicants hands, where they may delay to get back to us or where we’ve been trying to call their employer to verify income and employment and we can’t get hold of them, so there are parts of the process that we don’t have a lot of control over.
Because it’s either the applicant or their employer who is delaying getting back to us, so when somebody applies for credit with Citi bank, we will do an inquiry on their credit bureau, if that person is ultimately declined, we will decide not to proceed with setting up the account, all that is left on the bureau.