Preapproved offers

They've bought a mailing list from someone (possibly one of the cards you have) and they're just sending offers.

If you haven't received a notice of why you were declined in 30 days, call them again. Tell them that if you don't receive the information you'll report them to the Attorney General of your state--then do it.

 

I'd say it is a classic case of brain failure and if not that then just plain old failure to think.

Let's analyze the situation and see if we can find a justification for that statement. You got a preapproved offer? If you were preapproved then why was the actual credit card all ready to activate not in letter?
Oh, they wanted you to apply for a preapproved card? Why would they do that? Either the card was preapproved meaning that they already had all of the information they needed to preapprove the card and the only remaining question would be whether you wanted their card or not. If it was preapproved then why didn't they just send it along and let you decide whether you actually wanted it or not? The answer is that they used to do just that until the government told them to stop it a long time ago. But the remaining question is why would you have to fill out a lengthy application if you were already preapproved?

To me, that is false advertising and for that reason I always treat all those preapproved offers with tender care as I carefully take aim at the round file and fire away. I they don't have any more respect for my intelligence than to send me a so called preapproved offer then I don't want to have anything to do with them.

Other signs that their offer is nothing but a scam is what is the credit limit on the offered card? Less than $500? Its probably a scam. Do they want any money up front? If so its probably a scam. Are they willing to preload those up front fees on the card? Another indication that it is a scam. What is the interest rate? Do they mention arbitration in the event you don't pay? That's a warning sign as well.

Yes, I realize that if we had all refused to fall for their scams we might never have built any credit for ourselves but what has been the result of our efforts to build credit? For far too many people it has proven to be the ruination of all that we hoped to build. We have not yet even began to repair the damage to our national economy and it will be several years into the future before the economy returns to what it once was if indeed it will ever return to the levels of prosperity we once knew.

 

Well, the main reason the card isn't included is that the government passed a law years ago prohibiting companies from sending unsolicited cards--they can only send you the offer.

Most of them are from mailing lists or lists of "header" info from the credit bureaus. That means they meet certain criteria, such as no BK, at least x year history, etc.

Every offer I've seen has something on it to the effect that the offer is based on meeting certain overall criteria, and whether or not you will be issued a card and the actual terms will depend on the review of your credit. In other words, they haven't done a pull yet but will before you are given a card.

 

I mentioned the fact that the government keeps them from sending out unsolicited cards. I am also aware of all the rest of the things you mentioned.

However their wording saying that you are preapproved is false and misleading if they pull a report after you accept their offer. If you really were preapproved they would not have to pull your credit report after you accept their offer. The cards that are the worst offenders are the low limit cards. They are usually only issued to people who have low incomes and are therefore more prone to default sooner or later.

 

Had the same thing happen many months ago w/Discover...and they still kept sending those "pre-approved" offers. Even got one less than a week after the denial.

They have all gone into the "G" file ever since.

That was the only company that had given a denial, after first sending me a "pre-approved" offer.