Yes. If you set the rank of "Member" as the minimum to view and post in an application and you make it private it builds the list of who can view the application based on who is at the rank of "Member" at the time the application is create. If your members post their good or bad comments about the applicant and you eventually accept them in the guild. Once they are promoted to "Member" they will never be able to see their own application.
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Six Demon BagJack Burton: Hey, what more can a guy ask for?
Egg Shen: Oh, a six-demon bag!
Jack Burton: Terrific, a six-demon bag. Sensational. What's in it, Egg?
Egg Shen: Wind, fire, all that kind of thing!