topic Re: So-Fi World Elite Sneaky Pre-Approval > Approved $10,500 in Credit Card Approvals

So-Fi World Elite Sneaky Pre-Approval > Approved $10,500

DaWhole9 — Thu, 17 Mar 2022 22:12:40 GMT

So I just got a So-Fi World Elite credit card. I didnt really want it but it could be worse. I did the pre-approval. It says on their site, "By the way—applying won’t hurt your credit score ††".

I read the fine print and it says, once approved they would do a hard inquiry before opening the account. Pretty standard stuff right? So I hit ok..applied. The NEXT screen says congrats, here is your interest rate and credit limit. $10,500, and %16. Then it says your card will arrive by this date and welcome...I get an Experian alert for an inquiry and an email from Sofi that says welcome. So it seems that they will automatically proceed to issuing a card if you are approved. If you are not, they wont do a hard inquiry. Thats slightly sneaky as every other company will give you an approval and then the oprion to move forward or not. Anyway..hope its a good card...lol...I was looking to add a card (or 2) to replace my Credit One rebuilder cards.

Re: So-Fi World Elite Sneaky Pre-Approval > Approved $10,500

dcp0524 — Thu, 17 Mar 2022 22:14:58 GMT

Congrats on the approval! Nice limit 🎉🎉🎉

Re: So-Fi World Elite Sneaky Pre-Approval > Approved $10,500

FinStar — Thu, 17 Mar 2022 22:16:18 GMT

Congrats on the approval.

It's not really "sneaky" per se as each lender has their own processing methods. Not all lenders will follow the same processing guidelines or share similar UW platforms. But, what I would say, the positive change for SoFi's CC applications in general, it will not be a HP if denied. That policy changed last year. So for those who want to try and not burn a HP, that's definitely a plus.

Re: So-Fi World Elite Sneaky Pre-Approval > Approved $10,500

CYBERSAM — Thu, 17 Mar 2022 22:25:20 GMT

Congrats on your approval! 🤑

Re: So-Fi World Elite Sneaky Pre-Approval > Approved $10,500

CreditMagic7 — Thu, 17 Mar 2022 22:27:47 GMT

Congrats on the So-Fi approval!

Re: So-Fi World Elite Sneaky Pre-Approval > Approved $10,500

DaWhole9 — Thu, 17 Mar 2022 22:33:22 GMT

Getting a hard pull on a decline...THAT would suck.

Re: So-Fi World Elite Sneaky Pre-Approval > Approved $10,500

SeeSaw — Thu, 17 Mar 2022 23:00:33 GMT

Yep, that's exactly what they did to me. Congrats. If you're a fan of the Sofi financial ecosystem, you're definitely going to love this card.

Re: So-Fi World Elite Sneaky Pre-Approval > Approved $10,500

Anonymous — Thu, 17 Mar 2022 23:21:34 GMT

@DaWhole9 wrote:
Getting a hard pull on a decline...THAT would suck.

Well, that has been the policy with nearly all issuers

Re: So-Fi World Elite Sneaky Pre-Approval > Approved $10,500

Elpadrino1 — Fri, 18 Mar 2022 00:52:56 GMT

Congratulations on your approval!!

Re: So-Fi World Elite Sneaky Pre-Approval > Approved $10,500

tcbofade — Fri, 18 Mar 2022 01:07:05 GMT

Oops. Congrats!

Thanks for the warning!

Re: So-Fi World Elite Sneaky Pre-Approval > Approved $10,500

CreditAggie — Fri, 18 Mar 2022 03:11:39 GMT

Congratulations on your SoFi approval!

Re: So-Fi World Elite Sneaky Pre-Approval > Approved $10,500

Anonymous — Fri, 18 Mar 2022 11:51:19 GMT

@FinStar wrote:
Congrats on the approval.

It's not really "sneaky" per se as each lender has their own processing methods. Not all lenders will follow the same processing guidelines or share similar UW platforms. But, what I would say, the positive change for SoFi's CC applications in general, it will not be a HP if denied. That policy changed last year. So for those who want to try and not burn a HP, that's definitely a plus.

Well, I'm with the OP a little! As said, the wording is that "By the way—applying won’t hurt your credit score"

This would make sense if, like apple, you apply and are shown an offer, where you can proceed or not. In this case, applying certainly WILL hurt (or at least impact) your credit score, IF you are accepted. And as the point of applying is that you want to be accepted.....

It is disclosed in the small footnote, but it is at least a little misleading.

Re: So-Fi World Elite Sneaky Pre-Approval > Approved $10,500

HeavyResist — Fri, 18 Mar 2022 12:07:15 GMT

Mazel tov on the approval @DaWhole9 . Thanks for the info on the process.

Re: So-Fi World Elite Sneaky Pre-Approval > Approved $10,500

Red1Blue — Fri, 18 Mar 2022 12:18:23 GMT

Congrats on your new card approval

Re: So-Fi World Elite Sneaky Pre-Approval > Approved $10,500

gdale6 — Fri, 18 Mar 2022 16:25:04 GMT

Great SL, grats on the So-Fi approval

Re: So-Fi World Elite Sneaky Pre-Approval > Approved $10,500

M_Smart007 — Fri, 18 Mar 2022 16:57:33 GMT

Congrats on your SoFi Approval.

Re: So-Fi World Elite Sneaky Pre-Approval > Approved $10,500

cashorcharge — Sat, 19 Mar 2022 17:11:49 GMT

WooHoo! Congratulations on your approval!! 🥂🎉🍾

Re: So-Fi World Elite Sneaky Pre-Approval > Approved $10,500

babygirl1256 — Sun, 20 Mar 2022 15:15:33 GMT

Congrats on your So-Fi World Elite Approval.

Re: So-Fi World Elite Sneaky Pre-Approval > Approved $10,500

pcmedic2k — Sun, 20 Mar 2022 20:29:48 GMT

Congrats on your approval!

By the way, at the bottom of the application page is states "When you apply, SoFi conducts a soft credit pull that will not affect your credit score. An approved application will result in a hard credit pull, which may impact your credit score."

Re: So-Fi World Elite Sneaky Pre-Approval > Approved $10,500

pc01user — Sun, 20 Mar 2022 22:33:43 GMT

Congratulations on that very generous credit limit! Enjoy!