cancel
Showing results for 
Search instead for 
Did you mean: 

Capital One PreQaul letter

tag
Anonymous
Not applicable

Re: Capital One PreQaul letter

$5k. I think the credit card God's are on my side this week!! However I applied for the QS first, denied. Called in to speak to someone, no dice. They did inform me if I was denied for one card,I can be approved for a different one. So I built up the courage and said heck with it about the extra inquiry and app'd for the Venture. Approved :-$ I am done with apping for cards for a while now and I'm going to attempt to garden for 2016. My goal is to have my fedloan late payment removed(hopefully with my CFPB complaint already in the works) and have my last few med collections gone as well.
Message 11 of 12
RobertEG
Legendary Contributor

Re: Capital One PreQaul letter

If you receive a "pre-qual" offer, the key iterm to look for is whether the offer indicates that it is being made based upon a listing obtained from a CRA.

Creditors can submit criteria to a CRA and obtain a scrrening of consumers whose credit files meet their stated criteria.  FCRA 604(c).

 

Offers made based on a listing obtained from a CRA must be indicated as a "firm offer for credit," which is clearly defined under the FCRA as an offer that the creditor must grant if the consumer applies as is found to continue to meet the criteria that placed them on that listing.

Those offers are a bit more than junk mail.

 

Message 12 of 12
Advertiser Disclosure: The offers that appear on this site are from third party advertisers from whom FICO receives compensation.