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Frequent Contributor
illtakecreditforthat
Posts: 320
Registered: ‎05-03-2009
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US Bank "pre-qualified" vs. "pre-selected"

Several months ago, received a "pre-qualified" letter from US Bank.

 

Today, received a "pre-selected" letter from them.  The second letter mentions my status as an "excellent banking customer".

 

My question is whether there a differences between these 2 letters, or is it simply US Bank semantics.

I want PATIENCE...and I want it NOW
Valued Member
Fico750
Posts: 30
Registered: ‎03-22-2009
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Re: US Bank "pre-qualified" vs. "pre-selected"

Yes I do believe it is semantics.  The "preselected prescreened means your credit profile being softed by there standards and there is a high probability you could meet there credit profile as a potential customer.

Think of it like dating an unknown person a mutual friend recommends someone to be a potential match for you.

After the date  " hard inquiry" the like hood of some chemistry would be revealed and you would pursue the relationship   " issue the card" or you decline her because of the the finer details. 

Regular Contributor
Logical
Posts: 120
Registered: ‎11-16-2007
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Re: US Bank "pre-qualified" vs. "pre-selected"

Twice, a year apart, I received letters from US Bank worded as if they already had the card stamped and just waiting for me to apply. I do not remember how it was worded now, but the second time I read it several times closely. Burned twice. There will never be a third.
Senior Contributor
creditwherecreditisdue
Posts: 4,923
Registered: ‎04-19-2009
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Re: US Bank "pre-qualified" vs. "pre-selected"

[ Edited ]

illtakecreditforthat wrote:

Several months ago, received a "pre-qualified" letter from US Bank.

 

Today, received a "pre-selected" letter from them.  The second letter mentions my status as an "excellent banking customer".

 

My question is whether there a differences between these 2 letters, or is it simply US Bank semantics.


 

Any way you slice it it is still a pre-app and you still have to go thru the process of asking for the card. They will run your credit and scrutinize your app (most likely electronically). You can be denied. There is no difference.
Message Edited by creditwherecreditisdue on 09-03-2009 12:02 AM
Frequent Contributor
illtakecreditforthat
Posts: 320
Registered: ‎05-03-2009
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Re: US Bank "pre-qualified" vs. "pre-selected"


creditwherecreditisdue wrote:

illtakecreditforthat wrote:

Several months ago, received a "pre-qualified" letter from US Bank.

 

Today, received a "pre-selected" letter from them.  The second letter mentions my status as an "excellent banking customer".

 

My question is whether there a differences between these 2 letters, or is it simply US Bank semantics.


 

Any way you slice it it is still a pre-app and you still have to go thru the process of asking for the card. They will run your credit and scrutinize your app (most likely electronically). You can be denied. There is no difference.
Message Edited by creditwherecreditisdue on 09-03-2009 12:02 AM

Thanks.  Undoubtedly, you're right.  I'll just wait for my "pre-declined" letter.

I want PATIENCE...and I want it NOW
Senior Contributor
creditwherecreditisdue
Posts: 4,923
Registered: ‎04-19-2009
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Re: US Bank "pre-qualified" vs. "pre-selected"


illtakecreditforthat wrote:

creditwherecreditisdue wrote:

illtakecreditforthat wrote:

Several months ago, received a "pre-qualified" letter from US Bank.

 

Today, received a "pre-selected" letter from them.  The second letter mentions my status as an "excellent banking customer".

 

My question is whether there a differences between these 2 letters, or is it simply US Bank semantics.


 

Any way you slice it it is still a pre-app and you still have to go thru the process of asking for the card. They will run your credit and scrutinize your app (most likely electronically). You can be denied. There is no difference.
Message Edited by creditwherecreditisdue on 09-03-2009 12:02 AM

Thanks.  Undoubtedly, you're right.  I'll just wait for my "pre-declined" letter.


I may opt out very soon. The pre-app's have dwidled to almost nothing and I do question their value. Strange I should think that way since I have never been denied when app'ing one I wanted.

Established Contributor
Posts: 742
Registered: ‎12-19-2008
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Re: US Bank "pre-qualified" vs. "pre-selected"

[ Edited ]

illtakecreditforthat wrote:

creditwherecreditisdue wrote:

illtakecreditforthat wrote:

Several months ago, received a "pre-qualified" letter from US Bank.

 

Today, received a "pre-selected" letter from them.  The second letter mentions my status as an "excellent banking customer".

 

My question is whether there a differences between these 2 letters, or is it simply US Bank semantics.


 

Any way you slice it it is still a pre-app and you still have to go thru the process of asking for the card. They will run your credit and scrutinize your app (most likely electronically). You can be denied. There is no difference.
Message Edited by creditwherecreditisdue on 09-03-2009 12:02 AM

Thanks.  Undoubtedly, you're right.  I'll just wait for my "pre-declined" letter.


LOL!:smileyvery-happy:

 

IMHO, if you want the card it is a good one. They must have seen something in your credit profile worth sending you the invitations to apply, especially these days.. No CC company, I am aware of, will guarantee a CC. I have a US Bank CC and like my card for a variety of reasons. US Bank is a solid big bank and the card will grow with you.

 

If you do decide to apply, please inform us of the results.

Message Edited by plasticman on 09-02-2009 09:31 PM
Senior Contributor
creditwherecreditisdue
Posts: 4,923
Registered: ‎04-19-2009
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Re: US Bank "pre-qualified" vs. "pre-selected"


plasticman wrote:

illtakecreditforthat wrote:

creditwherecreditisdue wrote:

illtakecreditforthat wrote:

Several months ago, received a "pre-qualified" letter from US Bank.

 

Today, received a "pre-selected" letter from them.  The second letter mentions my status as an "excellent banking customer".

 

My question is whether there a differences between these 2 letters, or is it simply US Bank semantics.


 

Any way you slice it it is still a pre-app and you still have to go thru the process of asking for the card. They will run your credit and scrutinize your app (most likely electronically). You can be denied. There is no difference.
Message Edited by creditwherecreditisdue on 09-03-2009 12:02 AM

Thanks.  Undoubtedly, you're right.  I'll just wait for my "pre-declined" letter.


LOL!:smileyvery-happy:

 

IMHO, if you want the card it is a good one. They must have seen something in you credit profile worth sending you the invitations to apply, especially these days.. No CC company, I am aware of, will guarantee a CC. I have a US Bank CC and like my card for a variety of reasons. US Bank is a solid big bank and the card will grow with you.

 

If you do decide to apply, please inform us of the results.


I came as close as you can come to a "guaranteed" CC twice this year:

  • An "invitation to accept" a Macy's Visa, and
  • A PenFed pre-app for $8.2K revolving credit in various forms

 

I accepted both and both were sent to me w/o a hard INQ. That's about as good as it gets.

Established Contributor
Posts: 742
Registered: ‎12-19-2008
0

Re: US Bank "pre-qualified" vs. "pre-selected"


creditwherecreditisdue wrote:

plasticman wrote:

illtakecreditforthat wrote:

creditwherecreditisdue wrote:

illtakecreditforthat wrote:

Several months ago, received a "pre-qualified" letter from US Bank.

 

Today, received a "pre-selected" letter from them.  The second letter mentions my status as an "excellent banking customer".

 

My question is whether there a differences between these 2 letters, or is it simply US Bank semantics.


 

Any way you slice it it is still a pre-app and you still have to go thru the process of asking for the card. They will run your credit and scrutinize your app (most likely electronically). You can be denied. There is no difference.
Message Edited by creditwherecreditisdue on 09-03-2009 12:02 AM

Thanks.  Undoubtedly, you're right.  I'll just wait for my "pre-declined" letter.


LOL!:smileyvery-happy:

 

IMHO, if you want the card it is a good one. They must have seen something in you credit profile worth sending you the invitations to apply, especially these days.. No CC company, I am aware of, will guarantee a CC. I have a US Bank CC and like my card for a variety of reasons. US Bank is a solid big bank and the card will grow with you.

 

If you do decide to apply, please inform us of the results.


I came as close as you can come to a "guaranteed" CC twice this year:

  • An "invitation to accept" a Macy's Visa, and
  • A PenFed pre-app for $8.2K revolving credit in various forms

 

I accepted both and both were sent to me w/o a hard INQ. That's about as good as it gets.


I stand corrected to some degree. Any CC company whom will have you apply without a hard inquiry is as good as it gets. I have never had this offered to me and I would venture to say it is uncommon to see such an offer.

Senior Contributor
creditwherecreditisdue
Posts: 4,923
Registered: ‎04-19-2009
0

Re: US Bank "pre-qualified" vs. "pre-selected"

A) I was an existing customer of both institutions, and B) notwithstanding A) it is very unusual. Good karma returned for once I suppose.

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