Reply
New Contributor
Posts: 63
Registered: ‎09-02-2010
0

Branch banker; "You're pre-approved for Chase Freeedom"

So I went to the bank to pay for my credit card with cash, and the banker said; "Mr saaws, you are pre-approved for Chase Freedom card. Would you be interested applying?"

 

He didn't let go until I said no, that's nice to know but thank you, no thank you, no thank you. three times.  I guess he gets commission for that but still annoying.

 

Well I asked him, "But there's a still a chance I would be declined, right?" He answered; "Well, there's a slight chance.... but the computer says you are pre-approved."

 

I didn't know chase does pre-approved like this.  Well, the chase freedom card had 6 months balance transfer 0%, but since I opened two chase credit cards last 2 months(!) I thought the computer might say no, and I didn't want to waste inquiry on this (Since what I really want is Continental credit card for 25,000 miles before they get rid of Continental credit cards...  still debating when I will apply for this)

 

But still, How likely would I get the card if I applied in the branch?  Is there difference in likelihood if I apply in person or on the website?

EQ 734 (2010/09) 680 (2011/08) 700 (2012/04) 701 (2013/01) | EX 737 (2011/09 AMEX) | TU 755 (2010/09) 721 (2011/09)
Amex Platinum NPSL / Blue Cash Preferred $10K | BofA Visa $9K | Discover More $8.5K | Cap1 Best Buy MC $7K | Chase Ink Bold $12.5K / Sapphire Preferred $5.5K / MileagePlus Select Visa $5K / Freedom $2K | Dell Store $3K
Moderator
Posts: 17,419
Registered: ‎07-14-2009
0

Re: Branch banker; "You're pre-approved for Chase Freeedom"

I believe you made a wise choice today.

 

 

From a BK years ago to:
EX - 9/09 pulled by lender 802, EQ - 10/10-813, TU - 10/10-774

"Some people spend an entire lifetime wondering if they've made a difference. The Marines don't have that problem".

Valued Member
Posts: 54
Registered: ‎07-17-2007
0

Re: Branch banker; "You're pre-approved for Chase Freeedom"

 


marinevietvet wrote:

I believe you made a wise choice today.

 

 

From a BK years ago to:
EX - 9/09 pulled by lender 802, EQ - 10/10-813, TU - 10/10-774

"Some people spend an entire lifetime wondering if they've made a difference. The Marines don't have that problem".


I also agree. Go for what you want in credit (and what you need) , not for what they offer you. Plus, I wonder if apping at branches is better, or worse for your chances? Anyone can chime in on that?

 

Contributor
Posts: 107
Registered: ‎09-18-2009
0

Re: Branch banker; "You're pre-approved for Chase Freeedom"

Branch manager told me I'd been preapproved as well. I wanted a second CC and went ahead and applied. At the time I had a TU FICO of 656, roughly 6 INQs in the previous 12 months and an AAoA of 10 months with only a single CC and auto loan reporting. (2 paid derogs and 0 late payments) I was declined due to derog existance and AAoA.

Highlighted
Frequent Contributor
Posts: 321
Registered: ‎10-25-2009
0

Re: Branch banker; "You're pre-approved for Chase Freeedom"

See, this is why, as a banker for a major banking corporation, I don't use the term "pre-approved." I prefer "pre-qualified," being that "pre-approved" gives the notion that the approval is waiting, you just need to accept it. "Pre-qualified," on the other hand, is an indicator that some basics have been met, but it is not a done deal. At least, that's how my mind interprets it.

 

And to chime in, in terms of the in branch vs. online app, if you have the application code/invitation code/whatever your bank calls it to apply online, your chances would be the same. A cold app, however, may hurt your chances. It depends, however, on how spot on their pre-qual system is. 

 

At my bank, I'd say two out of ten pre-quals result in denial. That statistic, obviously, will vary from bank to bank and such. Smiley Wink

Despite my employment in the banking industry, any and all views contained in this post are purely my own, and do not represent any financial institution, nor constitute as financial or investment guidance or advise.
Advertiser Disclosure: The listings that appear on myFICO are from companies from which myFICO receives compensation, which may impact how and where products appear on myFICO (including, for example, the order in which they appear). myFICO does not review or include all companies or all available products.
† Credit cards for FICO Score ranges: The score ranges are guidelines based on actual applicant approvals and having a FICO Score in a particular range does not guarantee you will be approved for credit cards recommended in that range.

Copyright ©2001-2015 Fair Isaac Corporation. All rights reserved.   | Terms of Use | Privacy Policy | Sitemap

IMPORTANT INFORMATION: All FICO® Score products made available on myFICO.com include a FICO® Score 8, along with additional FICO® Score versions. Your lender or insurer may use a different FICO® Score than the versions you receive from myFICO, or another type of credit score altogether. Learn more

FICO, myFICO, Score Watch, The score lenders use, and The Score That Matters are trademarks or registered trademarks of Fair Isaac Corporation. Equifax Credit Report is a trademark of Equifax, Inc. and its affiliated companies. Many factors affect your FICO Score and the interest rates you may receive. Fair Isaac is not a credit repair organization as defined under federal or state law, including the Credit Repair Organizations Act. Fair Isaac does not provide "credit repair" services or advice or assistance regarding "rebuilding" or "improving" your credit record, credit history or credit rating. FTC's website on credit.