Reply
Frequent Contributor
Posts: 395
Registered: ‎08-11-2010
0

What does "pre-selected" mean?

I received an offer this weekend in the mail for an Orchard Bank Visa with a $300 limit and it says, you have been "pre-selected"  Does this mean it is already approved?  I just need to request it?

Frequent Contributor
Posts: 368
Registered: ‎09-14-2009
0

Re: What does "pre-selected" mean?

If you read the fine print it may come with an AF so are you sure you want it? I wouldn't recommend it unless you are desperate for tradelines.


EQ Starting Score: 579 | TU Starting Score: 568
EQ Current Score: 650 | TU Current Score: 653
EQ Goal Score: 1000 | TU Goal Score: 1000


Valued Member
Posts: 32
Registered: ‎08-13-2007
0

Re: What does "pre-selected" mean?

     It means the same thing as saying "pre-approved", which in turn, means absolutely nothing. The term "pre" means "before". The word "selected" surprisingly, actually means "selected". Therefore, if you're "pre-selected", it means PRECISELY... "not yet selected". You have existed in that state of being since the moment you were born. It's a marketing phrase which I consider deceptive- it implies- "OOO! OOO! We are ready and just ITCHING to approve you and send you a card!"

     Maybe true, but most likely... NOT.

     Cynicism is ugly and painful, but so very often it's less ugly and painful than life.

 

Get a myFICO recommended credit card

Copyright ©2001-2013 Fair Isaac Corporation.
All rights reserved.

IMPORTANT INFORMATION: All FICO® Score products made available on myFICO.com include a FICO® Score 8, along with additional FICO® Score versions based on Experian or Equifax data (additional FICO® Score versions based on TransUnion data are not currently available on myFICO.com). Your lender or insurer may use a different FICO® Score than the versions you receive from myFICO, or another type of credit score altogether. Learn more

FICO, myFICO, Score Watch, The score lenders use, and The Score That Matters are trademarks or registered trademarks of Fair Isaac Corporation. Equifax Credit Report is a trademark of Equifax, Inc. and its affiliated companies. Many factors affect your FICO Score and the interest rates you may receive. Fair Isaac is not a credit repair organization as defined under federal or state law, including the Credit Repair Organizations Act. Fair Isaac does not provide "credit repair" services or advice or assistance regarding "rebuilding" or "improving" your credit record, credit history or credit rating. FTC's website on credit.