BBY RZ MC Prequalified

[Anonymous]

Will that mean approval?

I carry the following with $0 balances on all:

Orchard, unsecured - $320

First Primevil, unsecured - $500 (dumping in June before annual fee)

Cap One, unsecured - $500

CL at CU, unsecured - $600 (ready cash for OD protection)

Thoughts?

Rebuilding.

[mahendra82]

You already have an HSBC card. Why would you want another one? I say stick with your current revolving or perhaps apply for a store card that gives high CL. 

[Anonymous]

I shop at BBY a lot.  Also, I will be dumping FP in June so I was thinking I should replace.

Does prequal = approval though with them?

Or I could take the BBY and dump Orchard?  Get the perks of BBY?  or is it not worth it?

Only store card I would be remotely interested in is Nordtrom... and I doubt I am qualified yet for that.

[JayRizzo]

Pre-qualify never means approval.  Only that you met some of the basic criteria their marketing department saw as a fit.  Nothing to do with their credit department who does the actual evaluation for approval.

[Anonymous]

Thank you!  Think I'll save my inquiry for later this year

[mahendra82]

Why don't you try their preapp? I think they soft. 

[Anonymous]

Yeah if you did the online pre approval and you were already approved for all those other cards it's almost impossible not get approved for this card. Minus the hit in AAofA, if you shop at BB alot like you said I'd go ahead and get it if you really want it but expect a LOW credit limit in the area of $100, $300, or $500 unless you have a great credit. Also see if you're prequalified for the gold or platinum to estimate cl.

[JayRizzo]

Naaaaah, their current score is 588 and the 3 cards they have are all low-limit subs (sub-prime), so I wouldn't advise them to stay on the road to low-limits.  Just let it grow a while because purchases at BB with a $100-200 limit will pretty much max you out instantly.