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Should I take the plunge?

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Breakthecycle2
Established Contributor

Should I take the plunge?

I used the prequalifer on Orchard and it said I was prequalified. Should I apply?

Starting Score: 454
Current Score: 690
Goal Score: 750


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RobertEG
Legendary Contributor

Re: Should I take the plunge?

CCCs will send you letters using such terms as "pre-qualified" or "pre-approved."  The key word in most of these offers is the prefix "pre."  Carefully read the terms of the offer.  Most will say that they are contingent upon your consent to do a hard pull for final approval after their review of your CR.

If it isnt a firm, unconditional  offer for credit, which it probably isnt, then there are no  guarantees for final approval, only that they willl do a hard inquiry, and post it on your CR.

 

Message Edited by RobertEG on 10-29-2008 09:07 PM
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marty56
Super Contributor

Re: Should I take the plunge?

Check out WhoGaveMeCredit to see what the approval rate is for that card based on scores and the area you live.
1/25/2021: FICO 850 EQ 848 TU 847 EX
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