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Credit Card Preapprovals

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Cotton_Britches
Frequent Contributor

Credit Card Preapprovals

Does the online preapproval tool base its decision on your actual credit score, or more on the information contained within the credit report?
“Faith is taking the first step even when you don’t see the whole staircase.”
Message 1 of 4
3 REPLIES 3
Anonymous
Not applicable

Re: Credit Card Preapprovals

Both.  I deal with auto loans regularly and i've seen 700 scores declined because of lack of significant credit history or recent BK/repo.  

Message 2 of 4
Cotton_Britches
Frequent Contributor

Re: Credit Card Preapprovals

Wow. Thanks for the insight!
“Faith is taking the first step even when you don’t see the whole staircase.”
Message 3 of 4
Anonymous
Not applicable

Re: Credit Card Preapprovals

And to add to my statement, auto loan underwriting guidelines is typically much more lenient and easier to obtain than with credit cards.  Based on that fact, i would say it's significantly more difficult to qualify for a prime credit card.  Perhaps you can share your credit score/history/income profile so we can help you.

Message 4 of 4
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