topic BBVA Prequalify Fail in Credit Card Applications

BBVA Prequalify Fail

MoneyBurns — Thu, 11 Mar 2021 01:36:39 GMT

How reliable are these qualifications? Credit score that they checked was 790 and 789. They ended saying they're not able to prequalify at this time. Does that mean if I try it'll automatically be rejected? I know that sometimes the prequalify don't work but wanted to check if anyone got a "unable to prequalify" and still got approved or is it pretty accurate ?

Thanks in advance!

Re: BBVA Prequalify Fail

FinStar — Thu, 11 Mar 2021 02:13:59 GMT

Their pre-qualification is fairly reliable. So, for BBVA, the prequalified portal can provide a good 'barometer' of potential odds without burning an unnecessary HP if you're testing the waters. I went through their pre-qualification which landed 2 cards back-to-back about 2 months ago.

Alternatively, you can cold-apply and burn a HP if you feel the pre-qualification is not working for you.

Re: BBVA Prequalify Fail

NoMoreE46 — Thu, 11 Mar 2021 10:58:19 GMT

Not directly related but I will share my BBVA experience.

When I had checked the prequalify in Nov, it offered me the Rewards card at $4500. (F8 about 760.)

I had the ClearPoints and was uninterested in a new BBVA card. I wanted a CLI on my CP.

I asked MF community if the $4500 PQ for the Rewards would be a good harbinger for a CLI on with my ClearPoints instead.

I didn't get a definitive.

I waited another three months to call and faired better than the $4500 PQ amount. I was granted another $6200 (from $5800 to $12000).

Re: BBVA Prequalify Fail

MoneyBurns — Thu, 11 Mar 2021 18:42:58 GMT

@NoMoreE46 wrote:
Not directly related but I will share my BBVA experience.

When I had checked the prequalify in Nov, it offered me the Rewards card at $4500. (F8 about 760.)
I had the ClearPoints and was uninterested in a new BBVA card. I wanted a CLI on my CP.

I asked MF community if the $4500 PQ for the Rewards would be a good harbinger for a CLI on with my ClearPoints instead.
I didn't get a definitive.

I waited another three months to call and faired better than the $4500 PQ amount. I was granted another $6200 (from $5800 to $12000).

Interesting. Thanks for sharing. Does having a banking relationship with them help approval odds?

Re: BBVA Prequalify Fail

FinStar — Thu, 11 Mar 2021 18:52:45 GMT

@MoneyBurns wrote:
@NoMoreE46 wrote:
Not directly related but I will share my BBVA experience.

When I had checked the prequalify in Nov, it offered me the Rewards card at $4500. (F8 about 760.)
I had the ClearPoints and was uninterested in a new BBVA card. I wanted a CLI on my CP.

I asked MF community if the $4500 PQ for the Rewards would be a good harbinger for a CLI on with my ClearPoints instead.
I didn't get a definitive.

I waited another three months to call and faired better than the $4500 PQ amount. I was granted another $6200 (from $5800 to $12000).

Interesting. Thanks for sharing. Does having a banking relationship with them help approval odds?

Not necessarily. We've seen DPs of individuals residing in their footprint with checking/savings and nada. Then, others opening up a checking account and offers popping up on the spot. Similarly for customers not in their footprint/lending area.

Also, what were the reasons they cited at the bottom of the screen (below the scores they provided you) when declined for the pre-qualification?

Re: BBVA Prequalify Fail

MoneyBurns — Thu, 11 Mar 2021 19:07:00 GMT

It was "TOO MANY RECENT INQUIRIES."

I an 8/24. My last open account was SoFi in December.

Re: BBVA Prequalify Fail

FinStar — Thu, 11 Mar 2021 19:17:38 GMT

@MoneyBurns wrote:
It was "TOO MANY RECENT INQUIRIES."

I an 8/24. My last open account was SoFi in December.

Naturally, the prequalified results are a tell tale sign you'd be declined under a standard application or normal circumstances. Then, you'd have more salt 🧂😉

So, in a way, they're doing you a favor by allowing you to check periodically and see where you stand. When it's time, you'll know. You'll just have to exercise a bit of patience.

Re: BBVA Prequalify Fail

cashorcharge — Thu, 11 Mar 2021 19:47:09 GMT

@FinStar wrote:
@MoneyBurns wrote:
It was "TOO MANY RECENT INQUIRIES."

I an 8/24. My last open account was SoFi in December.
Naturally, the prequalified results are a tell tale sign you'd be declined under a standard application or normal circumstances. Then, you'd have more salt 🧂😉

So, in a way, they're doing you a favor by allowing you to check periodically and see where you stand. When it's time, you'll know. You'll just have to exercise a bit of patience.

Similar experience in using their prequal. Tried it for the heck of it...it came back giving me my EX score of 840 but still declined me due to recent new accounts. I had seen a lot of people getting it so I tried it out...this was last year, haven't tried since but did appreciate the "on the spot" PDF letter they provided as to why.

Re: BBVA Prequalify Fail

Mr_Mojo_Risin — Thu, 11 Mar 2021 21:38:08 GMT

I checked for a pre-qualified offer the other day just for the heck of it and I was denied also.

Said too many new accounts, I've had 4 in the last 12 months. But nothing in the last 6 months.

Re: BBVA Prequalify Fail

Jnbmom — Thu, 11 Mar 2021 22:40:24 GMT

The site doesn't work for me , I put in income agree to terms then a screen pops up do you want to leave this page or stay 🥺weird

Re: BBVA Prequalify Fail

KatSoDak — Sat, 13 Mar 2021 16:43:42 GMT

I'm so sorry you were not prequalified yet have to thank you so much for posting this. I've been looking for a card to use for groceries that would give me 3%. I was not familiar with BBVA Clear Points. This card, combined with my WF Propel and BofA Cash Rewards gives me 3% in all areas I spend.

I did a search online for BBVA pre qual page as I have no relationship with them. Process was easy and SP indicated $7500 with 15% APR. I waited overnight to think it over then went through the pre qual again yesterday with same CL and APR offered so I pulled the trigger. Final app asked for drivers licence state and number (I'm in South Dakota) along with email and phone of course. Instant approval with CL and APR as indicated.

I was 1/12 on HPs as of yesterday btw and they pulled EX. Was hoping for TU as I am 1/12 on EQ also and 0/12 TU. All my CRAs are about 6/24. EX is 792 I think.

Thanks again.

Re: BBVA Prequalify Fail

cashorcharge — Sat, 13 Mar 2021 16:46:10 GMT

@KatSoDak wrote:
I'm so sorry you were not prequalified yet have to thank you so much for posting this. I've been looking for a card to use for groceries that would give me 3%. I was not familiar with BBVA Clear Points. This card, combined with my WF Propel and BofA Cash Rewards gives me 3% in all areas I spend.

I did a search online for BBVA pre qual page as I have no relationship with them. Process was easy and SP indicated $7500 with 15% APR. I waited overnight to think it over then went through the pre qual again yesterday with same CL and APR offered so I pulled the trigger. Final app asked for drivers licence state and number (I'm in South Dakota) along with email and phone of course. Instant approval with CL and APR as indicated.

I was 1/12 on HPs as of yesterday btw and they pulled EX. Was hoping for TU as I am 1/12 on EQ also and 0/12 TU. All my CRAs are about 6/24. EX is 792 I think.

Thanks again.

That's terrific! Congratulations @KatSoDak on your approval!! 🎉🥂

Re: BBVA Prequalify Fail

4sallypat — Sat, 13 Mar 2021 17:06:59 GMT

Interesting DPs...

I tried the pre-qual and was instantly offered $1500 SL ClearPoints card at 19%.

Not very good to help my available credit so I did not apply.

EX at 720

Re: BBVA Prequalify Fail

Egaffne2 — Mon, 22 Mar 2021 21:37:36 GMT

did u get the sign up bonus?

Re: BBVA Prequalify Fail

FinStar — Tue, 23 Mar 2021 00:14:47 GMT

@4sallypat wrote:
Interesting DPs...

I tried the pre-qual and was instantly offered $1500 SL ClearPoints card at 19%.
Not very good to help my available credit so I did not apply.
EX at 720

It appears it's profile driven @4sallypat. The SLs will fluctuate depending on when you run the pre-qualification tool. So, the more your profile is optimized over time, the higher the SL will yield. That's basically what I did, until It displayed an adequate SL for some anticipated expenses and the SUB.

Re: BBVA Prequalify Fail

FinStar — Fri, 02 Apr 2021 03:46:21 GMT

As the OP has posted in Approvals, this thread is now locked to new messages.