Discussion in 'Credit Talk' started by ALS, May 10, 2000.

  1. ALS

    ALS Guest

    Ok, a few weeks ago I got a preapproved offer from AMEX Gold. I sent in this slip but never heard anything back from them so I called and they told me they didn't know anything about the preapproval and that I should reapply, so I did and was turned down. The preapproval letter they sent me said that the offer was "based on information contained in your credit file". Does that mean they had already pulled my report? If so, how can they turn me down. Nothing in my credit could have changed that drastically in that short period of time. I have no lates, no increased debt (if anything it would be less since I have been making payments and not using my cards). Anyway, I don't see how they can legally send out that bullshit. I don't care what kind of "escape clause" they have written into it. It is nothing but crap. Do they get kicks out of seeing people waste inquiries like that? If I had the letter with me I could give you a better idea of what it said. Everything in that letter made it sound like they have already reviewed my credit and that I was worthy of their card. It said something to the effect of "because of your outstanding credit worthiness" blah, blah, blah. It didn't say anything about pulling my credit for approval except for making sure things haven't taken a turn for the worse with my credit. How can they do this crap to people. This really makes me mad and if there is anything I can do about this, I am gonna do it. I would REALLY like to know just exactly how my credit changed since that letter was sent out. I still haven't gotten a rejection letter from them stating why I was declined, I should have heard something by now. THIS IS CRAP!!!
  2. RichGuy

    RichGuy Guest

    This illustrates one of the features of preapproved offers: the standards for offering them may be lower than their regular standards. Banks are much more suspicious of an application that the borrower initiates than one they mailed out based on credit prequalification. Some of my preapproved offers state that any applications returned late will be evaluated by their normal credit criteria, presumably different from the prescreen criteria.
    Knowing Amex, they probably didn't lose it on purpose, but really don't want to deal with anything outside of their standardized prescreen-direct mail--approval strategy. Maybe you could at least get them to delete the inquiry. Then, the same prescreen will probably select you again in a few months. By the way, I sometimes make copies of really good or really unusual offers before I send them back. I hope things go well for you.
  3. ALS

    ALS Guest

    That's weird and good to know. You would think they would have the same standards. I had asked them if applying over the phone would make a difference and they said they really didn't know. Think I will just wait it out and see if I get another one. Would really like the declination letter though!

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