topic Re: What does pre-selected mean in Credit Cards

What does pre-selected mean

Anonymous — Thu, 03 Sep 2015 19:23:19 GMT

I received a mail from citi bank YOU ARE PRESELECTED FOR our diamond preferred card 0% Apr for 12 months

What does that term preselected mean

Re: What does pre-selected mean

FinStar — Thu, 03 Sep 2015 19:35:05 GMT

It means that based on Citi's pre-screened criteria, you along with others who fit a specific segment, were selected to apply for the Diamond Preferred. In other words, an invitation to apply - nothing special and simply a marketing offer. No guarantee of approval.

Re: What does pre-selected mean

Anonymous — Thu, 03 Sep 2015 20:03:57 GMT

I see I doubt I will be approved with 8 New accounts and 30+ inquiries. Citi Bank seems to love me early this year they sent me an preapproval for the double cash back.

Re: What does pre-selected mean

Anonymous — Thu, 03 Sep 2015 20:06:59 GMT

Unless you see a single APR figure instead of a range after the promo period ends, it's just a marketing mail. Don't bother applying unless you actually need the card

Re: What does pre-selected mean

OmarGB9 — Thu, 03 Sep 2015 20:11:00 GMT

+1 to opinionated

Re: What does pre-selected mean

Anonymous — Thu, 03 Sep 2015 20:22:59 GMT

@Anonymous wrote:
Unless you see a single APR figure instead of a range after the promo period ends, it's just a marketing mail. Don't bother applying unless you actually need the card

And even if there is a single APR, still don't apply unless you acfually need it!

Re: What does pre-selected mean

Anonymous — Thu, 03 Sep 2015 21:45:56 GMT

I have been getting a lot of them from Citi lately, for their bottom of the line card. It surprises me, though, since I burned them for about $2k when I lost my job back in 2007-ish.

Re: What does pre-selected mean

Anonymous — Thu, 03 Sep 2015 21:52:43 GMT

I've also been getting these a lot lately on a couple of their cards with specific %. While it is a marketing gimmic, I do think it makes it somewhat more likely you'd be approved. But how much somewhat means is a big guess.

The strange thing is that in getting these mailings, when I go to citi's site, NOTHING shows up for prequalify and yet I have nothing negative on my record and have never burned them etc and my scores are good. Strange.

Re: What does pre-selected mean

Anonymous — Thu, 03 Sep 2015 22:54:58 GMT

Opinionated on the latter they specifically set the Apr at 20.9% which must mean something for me(they soft pulled me). I never burned them. I banked with them but had to switch to another bank due to moving to Connecticut.

Re: What does pre-selected mean

kdm31091 — Thu, 03 Sep 2015 23:41:21 GMT

Aren't you gardening? Do what you want but you have a lot of new accounts and inquiries, and this card is hardly anything worth leaving the garden for.

The mailer means nothing in this case, and is just marketing. Even if it weren't, the only real use is for the 0% period. But if you don't need it don't apply. There are better cards.

Re: What does pre-selected mean

Anonymous — Thu, 03 Sep 2015 23:51:14 GMT

Thank you kdm31091 your right and I am and should be gardening definitely until next year. I have Way too many new accounts this year. This month especially this month of September, I am taking no credit card actions such as CLI(even if it's a sp) no application and I also opt out for 5 years. I need to garden the cards I really want next is both best buy platinum visa and citi double cash back.