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?
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.
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.