I, like so many of you, have been going down the credit repair road due to a divorce. Question for you, I have been on time with Mortgage paymnents for the last 20 months, I used Providian and Capital one cards to rebuild credit. Providian one 17 months Providian two 3 months Capital one 5 months All on time. I recently paid off a judgment that was from 1997. I still have two charge off's from 97 My questions is I have been getting a lot of offers saying pre-selected. From sears, Kmart, Discover Platnum, Premier bank, Cross Country and Associates. My questions is should I waste an inquiry or two appling for these cards when I still have the two charge offs on my credit record and is this pre-selected the same as pre approved???? I always get great advice on this board, so any input would be appreciated!
RE: Preapproved VS Preselected Preselected isn't worth the paper it is printed on. They send preselected to virtually anyone who has credit, not matter waht it looks like. These are just wasted inquiries. The only true preapprovals are the ones that only require your signature.
RE: Preapproved VS Preselected Neither one of those statements will guarantee a card in your hand. I applied for a Discover Platinum which said I was pre-approved. I was declined, and upon looking closer at the wording, it actually said I was pre-approved to "apply" for the card. The only thing I got out of my "pre-approved" offer was an unwanted inquiry. From my experience, you tend to get "approved" on more of the "pre-approved" offers from the sub-prime guys, if your credit isn't to hateful.
RE: Preapproved VS Preselected what ever you do dont apply for the crooks country bank card those freaks are criminals.
RE: Preapproved VS Preselected You might get decent results from the downscale cards like Kmart or Associates, but I would recommend: (1) Don't commit yourself to any annual fees. (2) Stay completely away from First Premier and Cross Country. Both are overpriced, both would downgrade the quality of your credit, and Cross Country is run by vultures without any conscience whatsoever. A Cross Country "credit card" is an illusion. It's more like an IV needle stuck into your bank account to drain it as quickly as possible.
