received a pre selected offer for sears gold mc.. scores our mid to high 500's. what are my chances??
Your chances are exactly the same as if you applied cold without a "pre-selected" offer. That offer is meaningless. I get one every year in January because I applied in January 2000 and got turned down. I refused to return the offer this year, knowing exactly what would happen. Sears and Discover are two creditors that enjoy sending out meaningless "pre-selected" offers so they can turn down lots of people and then brag about how selective they are.
My brother got pre-select offer for Sears Card two years ago and he got approved for $3500. Later they sent him Sears Gold Mastercard without asking. Ron.
Ron, I'm happy for your brother. I know some of those pre-selected offers get approved. However, my point was that the offer itself doesn't mean you have any significant chance of being approved. Sears appears to screen for good credit after the offer is returned, rather than before it is sent. Your brother already had good credit, right? Good to hear from you, RichGuy
RichGuy, My brother got perfect credit history like me and he got Discover, Amex, Juniper, a couple of the othe cards. I got pre-select offers from Sears and I didn't take the offers because I had already applied. You usually got higher credit limit if you have pre-select offers. I think they score your application instead of manual review application. Pre-select means pre-screen from credit bureau. Ron.
Not always. It can mean you are on a list of people in a certain profession, or people who have a license (like insurance license) or who graduated from a certain school. The lists of names are sold by groups you join, by the states who grant the license, the schools you attend etc. Sometimes it is just because you wrote a check or used a debit/credit card in a certain store. I routinely get astounding offers simply because I have had an insurance license for a long time.
Yeah, me too... too bad they don't know I'm a POOR, CREDIT UNWORTHY insurance agent... instead of the type with a second home in Florida and driving a mercedes.
Funny, hubby just got one in the mail today (again-last one was a month or so ago). I know one year post bk, (probably with bk period) he'd never get approved. This leads me to believe it is just a "list" offer and they're picking his name up from somewhere and haven't got a clue what his credit is really like. He wasn't on my Sears card when we filed.
