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Does "Pre-approval" mean anything?

Established Member

Does "Pre-approval" mean anything?

I get a ton of credit card offers every week.  Am I more likely to be approved for one of these than applying for a card online - or are they just meaningless?
Message 1 of 13
12 REPLIES
Valued Contributor

Re: Does "Pre-approval" mean anything?

Pre- Approvals are no guarantee. 
Message 2 of 13
Super Contributor

Re: Does "Pre-approval" mean anything?

Preapproval means you have not opted out of preapprovals.
 
Other than that, they are just more to recycle
The slide from grace is really more like gliding
And I've found the trick is not to stop the sliding
But to find a graceful way of staying slid
Message 3 of 13
Established Member

Re: Does "Pre-approval" mean anything?

I know that they are not guarantees - I was wondering if there is any reason at all to consider solicited offers over non-solicited...
Message 4 of 13
Moderator Emeritus

Re: Does "Pre-approval" mean anything?



renov8r wrote:
I know that they are not guarantees - I was wondering if there is any reason at all to consider solicited offers over non-solicited...


Other than the fact that they already have your name and address pre-printed, probably not.
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Bartender, bring another round of FICOtinis please!

9.4.2011: TU 805. EQ 815.
Message 5 of 13
Valued Contributor

Re: Does "Pre-approval" mean anything?



renov8r wrote:
I know that they are not guarantees - I was wondering if there is any reason at all to consider solicited offers over non-solicited...


for the most part you can stilly apply on line with the specila web address and the offer code.  That would be alot quicker.  
Message 6 of 13
Established Contributor

Re: Does "Pre-approval" mean anything?

I am curious about preapprovals also--I was wondering does someone with good credit automatically get more preapproval offerings? I notice as my credit improves I am getting more offers in the mail

Are getting more preapprovals in the mail clue that your score is going upward?
Message 7 of 13
Moderator Emeritus

Re: Does "Pre-approval" mean anything?



rifleman wrote:
I am curious about preapprovals also--I was wondering does someone with good credit automatically get more preapproval offerings? I notice as my credit improves I am getting more offers in the mail

Are getting more preapprovals in the mail clue that your score is going upward?

Not necessarily.  It just means that you are getting on more mailing lists.  And those lists get sold.  And so on.  The process between a company buying lists and then sending out its promos is several months, so your score changes in the interim have no effect on their distribution.  People who recently filed BK get offers.  But you will get better quality offers as your credit improves -- perhaps that's what's happening. Smiley Happy
-----------------
Bartender, bring another round of FICOtinis please!

9.4.2011: TU 805. EQ 815.
Message 8 of 13
Senior Contributor

Re: Does "Pre-approval" mean anything?

Congrats you are pre approved to apply. Means nothing.
Message 9 of 13
Senior Contributor

Re: Does "Pre-approval" mean anything?

My UTL got lower, no more CAP1 and WAMU pre-approvals. Now I am getting AMEX pre somethings... And before my UTL was really bad, all I got was CAP1s. When I started paying off I started getting WAMUs.

Could just be that CAP1 got the list first, WAMU second, AMEX third. But it's nice to think maybe my score has something to do with it?

By the way... I was denied for everything. Then WAMU sent several more apps. I applied for half of them, denied. Smiley Sad But their just shallow. I am a good credit risk inside! Smiley Happy

Message Edited by ilovepizza on 06-20-2007 04:51 PM
If we never set higher goals we would never get as far.
sol, credit 101, acr, abbreviations, calc
Message 10 of 13