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Discussion in 'Credit Talk' started by Ann, Mar 24, 2000.
"You have been specially selected to receive this offer of credit from us."
Barclaycard Arrival Plus® Credit Card
Earn 40,000 bonus miles after spending $3,000 in the first 90 days; that’s equivalent to a $400 statement credit!
CREDIT CARD WITH BONUS OFFERBarclaycard Arrival Plus
Credit One Bank®Cash Back Rewards
Credit card for people with bad credit! 0% intro *APR for 15 months on balance transfers. $0 intro balance transfer fee for transfers made in first 60 days.
BAD CREDIT CREDIT CARDCredit One Bank® Cash Back
Barclaycard Arrival Plus®
2X miles on each and every purchase. 5% miles back with each redemption!
primor® Secured VisaClassic Card
Credit lines available up to $5,000! Reports to three national credit bureaus; perfect card for reestablishing credit. Guaranteed approval*!
SECURED CARD FOR REBUILDING CREDITprimor Secured Visa Classic
Barclaycard Arrival Plus® World Elite Mastercard®
Pay 0% interest on balance transfers for 12 months*!
I am curious, does the offer state Pre-Approved? Or Pre-Qualified? Or Pre-selected?
The use of these terms mean nothing much these days, since credit card companies are using lists provided by the credit bureaus. The only pre-qualification to get on the list may have been the neighborhood you live in. The fine print usually states that they will run an actual credit report once you return the application.
A true pre-approval comes with just a signature line.
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So, Ann, depending on your credit history, you may be just adding another inquiry to your file.
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It states "You are Pre-Approved" for the particular bank Mastercard.
Read the fine print. It is COMMON practice now for it to read something to this efect:
"You were selected for this offer based on selection criteria supplied to credit repoting agencies. We may rescind this offer if your credit worthiness at the time of your acceptance of this offer does not meet our requirements."
In other words, their "PRE-APPROVAL" is worth no more than that tissue which youo keep in your bathroom.
In a word? "No."
Actually you probably are "pre-approved", but usually if your credit isn't perfect or you don't have credit they tac on about 21 to 22% APR or you have to pay a membership fee annually and/or a processing fee. So I wouldn't get it. Try going to Visa.com to check out some banks that don't have annual memberships or processing fees.