03-16-2011 01:01 PM
FicoPree wrote:Hey Thrasher,
The offer does say pre approved and they have been sending him one every week for like 6 months now. He doesnt have any inquiries and his last new account was last year in February from USAA, which he doesnt use, well actually never used it cuz of the lowly 1k CL. He doesnt have any inquiries on any reports at all. The only reason this is a good offer is because of the $150 cashback bonus, which is enticing - with the requirement being just the first purchase...
I dont know if the 150 is worth the new inquiry and new account... any advice? I wish there was a way of knowing if this is a done deal or what... He did apply with them in Sept 2009 and they declined due to "thin file" and told him to apply later on and for 6 months now they have been sending him offers...
Anyways --- I hope this info helps.. His total balances owed is like 3K on total available credit of 60K.
This is kinda similar to what happened to me when I applied chase first. Then I applied again 8 months later (this jan) and was approved for 5k CL. My highest CL was 2250.
Another month down the line, I was approved for chase BA vis sig with 10.5 k (50k BA miles).
Anyway, I like the freedom card, cash back esp 5% revolving categories is really good.
Btw, the last line of your post is confusing me. He has 60k available credit with thin file? Is that all his credit or a mix of AU?
Hmmm, your post gives me hope. Chase told him he had thin file when he apped with them in 2009 but since then he has grown credit. 60K is his own credit. He has like 11 CC's with the total limits around 60K and balances of around 3K amongst them....
03-16-2011 01:02 PM
Hello, I just received recent clarification from Citi, Chase and Navy Fed on this topic. Pre-Approvals means that they have recently done a "soft" pull on your CR to check and see if you meet their criteria. As long as there are no major changes from the time of the recent "soft" you are most likely going to be approved for the offer they sent you. If you are Pre-selected means that they are getting the info from the bureaus as to the fact you might be a good candidate but there is no guarantee you will get the card until they do a hard pull and verify the information. Hope this helps!!!!
Thanks for clarification... this helps a lot... Thanks
04-13-2011 01:56 PM
myFICO is the consumer division of FICO. Since its introduction 20 years ago, the FICO® Score has become a global standard for measuring credit risk in the banking, mortgage, credit card, auto and retail industries. 90 of the top 100 largest U.S. financial institutions use the FICO Score to make consumer credit decisions.>> About myFICO