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saaws
Posts: 60
Registered: ‎09-02-2010

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 Emeritus
MarineVietVet
Posts: 14,084
Registered: ‎07-14-2009

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
alphawav
Posts: 54
Registered: ‎07-17-2007

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
introvert
Posts: 107
Registered: ‎09-18-2009

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.

Frequent Contributor
JMN
Posts: 316
Registered: ‎10-25-2009

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. :smileywink:

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.

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