topic How reliable are pre-approvals? in Credit Card Applications

How reliable are pre-approvals?

biff-henderson — Sun, 18 Jul 2021 17:47:21 GMT

I field out a pre-approval on Amex and was offered a Gold card, Blue Cash Preferred, and BLue Cash Everyday. At Chase, where I rececetly opened a checking account, I was offered a United Explorer Card -- which I had back in 2009, but closed. How reliable are these offers?

I KNOW I have several hard pulls on my report, as I opened an account recently, and applied for a couple of CLI's. I'm probably hovering around 700, and 10% utilization.

I really haven't been up on any of this credit wizardy until recently, and still combing through the forums trying to understand more. My gut tells me they are just teasers, and back off till December or so. I'd like to upgrade to a decent travel card in the future so the travel spend I do can work for me.

Thoughts? Advice? Warnings?

Re: How reliable are pre-approvals?

ChargedUp — Sun, 18 Jul 2021 18:37:16 GMT

Amex pre-approvals are decently solid from what I've read around here and my own experiences.

When Chase uses the phrase "You're already approved" with a green or black star under Offers in your online account interface or in your Credit Journey offerings, with a credit line and fixed APR showing, it's solid. Anything else from Chase is more a suggestion than an actual pre-approval.

Re: How reliable are pre-approvals?

KLEXH25 — Mon, 19 Jul 2021 02:43:42 GMT

The preapprovals are pretty solid, as long as that's the language used (& not "prequalified" or "invited to apply"). However, I wouldn't go as far as saying it's a sure thing, but definitely a very strong possibility of being approved. Were the CLIs all hard pulls as well?

Re: How reliable are pre-approvals?

NaimeseOGK — Wed, 04 Aug 2021 12:22:38 GMT

It depends. I had 2 pre-approvals that ended up denying me cause my inquires. But im sure if it wasn't for that I would've gotten approved.

Re: How reliable are pre-approvals?

Trini88 — Thu, 05 Aug 2021 22:24:35 GMT

I received a pre approval in the mail yet got denied for having "too few accounts". At the time I only had 2 credit cards and a car loan.