Below you will find each status a credit application may be in at any given time, as well as a brief explanation of each status.
|No Decision||An application has been submitted but the credit reference agency did not provide a response.|
|Predecline||The customer has already been declined in the last 60 days, and they have tried to reapply before 60 days have elapsed.|
|Accept||The credit application has been accepted for finance which is valid for 90 days. The customer now needs to sign their agreements and pay their deposit if a deposit is required.|
|Decline||The credit application has been declined for finance. They must now wait 60 days before they can reapply for finance.|
|Refer||The credit application has been given a refer decision which requires manual decisioning from the lender to be either declined or accepted.|
|Verified||The customer has successfully signed their agreements and paid their deposit (if deposit was required).|
|Fulfilled||The retailer has notified the lender that they have fulfilled the order. Fulfilment is defined as the customer having receipt of all items or service eg their complete order.|
|Complete||The credit application has been included in a settlement payment from the lender to the retailer.|
|Cancelled||The credit application has been cancelled and the deposit and any direct debit payments will have be refunded to the customer, if they were paid.|
|Amended||The credit application has been amended and is awaiting the consumers approval. You can only amend an application if it is in Accept or Verified status.|
|Action-Customer||The customer has been accepted, paid their deposit but the application requires an ID upload to proceed.|
Below is the credit application flow for each customer journey.
Updated over 2 years ago