Ok.. Is it better to go and find the best credit card offer and apply online or by phone, or should you wait until you get a "pre-approved" offer and then apply? Does it make any difference? Steve
I (PERSONALLY) HAVE BEEN DENIED ON THE PHONE---IN THE MAIL---ON THE INTERNET. "PRE-APPROVED" "PRE-SELECTED" "HAND-SELECTED" "ALREADY-APPROVED" DON'T MEAN MUCH ANY MORE... ...BUT the "PRE-APPROVED" type offers/applications (USUALLY) are better than COLD CALLS... YMMV
Doesn't matter. If you **think** you meet the card issuers requirements go ahead and apply. Just waiting for them to find you could take a long time. Research this board for the card you want and see what others had or have on their reports to get approved and then go ahead and apply based on that. Pre-quals, pre-approved, invitations, etc really mean nothing . Although if you do take them up on those offers and your declined, a few months later you will start getting preapprovals for a cometing card.
So they are lying when they stating "You have been "Pre-Approved" for this offer on the basis of criteria contained on your credit report" or "You have been selected to receive this offer because you meet our account requirements" Why would they pull soft, and then send pre-approved offer if they are not satisfied with your credit score at the first place? Just to get you denied? It doesn't make a sense to me.
Would appreciate if someone could tell more regarding this pre-approved offer? What is the purpose of sending this offers if they are not really based on your credit score? Thanks, Denny
THE CRA'S GIVE THE CREDIT CARD COMPANIES THE INFORMATION BASED ON WHAT THEY ASK FOR... 1,000,000 people on the LEFT COAST (CA) that have NEVER had any bad credit... 100,000 in CO that have a car loan that is PAID SATISFACTORILY... 100,000 people in NY who NEVER had any car loan... 500,000 PEOPLE IN TX WHO ONLY HAVE ONE CREDIT CARD...
Re: Re: Better to apply or wait for an app? I agree with you George regarding these telemarketing offers. But when credit card companies pull a soft, and they send pre-approved offer - that means they are satisfied with your credit and you should get the credit if you apply for it?
I am pretty sure it is score based. As my scores have been going up, my junk mail has been getting better. Today: Pre-Approved Discover Plat, 0% BT until 8/05, no fees, 8.9 fixed rate, etc.... (Doing some research on this, see who they pull, etc.) I am kinda getting middle of the road sub-prime/prime mix. Still nothing from AMEX yet. Just six months ago I was getting the crap from South Dakota where the day you get the $300 limit card you already owe $287 in fees. I think they buy 10,000 names of people with scores of 680 or more. The send you pre-approved app with some sneaky small print. They pull a hard and you have a BK. You are no longer pre-approved. That's how I think it works.
Re: Re: Better to apply or wait for an app? So that means that they didn't pull a soft at the first place. Otherwise they wouldnâ??t mail pre-approved offer to you?
Re: Re: Better to apply or wait for an app? I think what they are saying is that they may be strictly score based in that they ask for a group of people with scores over 700. So you happen to have a BK but a score of 710. Their internal policy is to auto-deny anyone with a BK regardless of score. Even though you get the preapproved offer, they still have to deny you. This could be prevented by better initial filtering not just looking at score which I would think should be doable...
Re: Re: Better to apply or wait for an app? In my case I was sent a 'preapproval' offer for a Citibank card. Thinking I had a chance I applied and was denied due to my bk on Citibank. Best regards, Mirage
