I've noticed a strange pattern recently regarding pre-approval offers. A friend of mine used to have around 7 or 8 credit cards a long time ago, but he told me that over the years he cancelled all but one card (Citibank miles card). Evertime I go over to his house on any given day I see at least 4 pre-approvals for Platinum cards. He told me that he gets at least 10 offers per week. I know that he has good credit, but I have a bunch of Platinum cards and two AMEX cards and I barely get 1 or 2 offers for regular cards per week. I feel that my credit is just as good as his because I'm approved for most cards, but I have to apply for them. I don't get any pre-approvals for Platinum cards. Does he get many more offers than me because he only has one credit card or is my credit going south for some mysterious reason?
I don't use pre-approvels anymore because they are not guarnteed,so i just apply over the internet for any new cards.I only apply for the one's that offers instant decisions,so i will know if i have been approved,or not.Pre-approved dosn't mean squat,just pre-screened needing full evaluation including a hard inquirie on my credit report.If you are carrying a high debt load then it is wise not to appy until you pay the balances down.If you have no more then 50% of total availiable credit used then you will have a good chance on getting approved for new cards.
I thought it was against the law for the CC issuers to send something that said you are pre-approved and then deny you? Did this change? I remember there being a BIG thing about this a few years ago where people were receiving pre-approvals (or so they said) and were denied. Isn't that false advertising? Pre-approved means just that....you have it. I believe they pull your report to determine what the line of credit will be.
Pre approved means you fell into a scoring range, when they bought your name from "one" credit bureau. No. They could pull another for instance, and deny. They could pull the same bureau, and you could still fail to meet the requirements over above and beyond the credit report alone. So basically pre-approval doesn't really mean squat. Maybe if you have a card with the company already, then that would be weighted in your favor.
Seems to me if you only have to sign it and fill in your phone number, ss number then it is a real pre approval. The time when I was denied a pre approved card was when they needed income, job, etc. That, to me, is a teaser to get you to apply to rather accept an offer. am
Well I have never received a preaproval card on the mail. and I already have 1 capone, 2 citi, 1 chase 4 retails low balances...
