topic Re: Got a preapproval email from Comenity/Overstock today...yes or no? in Credit Cards

Got a preapproval email from Comenity/Overstock today...yes or no?

Anonymous — Thu, 18 May 2017 22:33:04 GMT

So, I finally got a preapproval offer in my email today from a card I have actually been interested in in the past, though not as much as others, Overstock from Comenity. $0 annual fee, up to 24 months' financing, but the APR is rather high at 27.74%. Worth exiting the garden to try for it or not? The offer expires June 2nd. In point of fact, having gotten this offer, I wonder if it's worth trying for Paypal Credit (also offered by Comenity) via eBay. What do you think?

Re: Got a preapproval email from Comenity/Overstock today...yes or no?

AverageJoesCredit — Thu, 18 May 2017 23:31:11 GMT

If i had to choose id go for paypal credit being thats its hidden, and can use it almost anywhere with 6 month 0% financing over $99 Just me though

Re: Got a preapproval email from Comenity/Overstock today...yes or no?

Anonymous — Thu, 18 May 2017 23:45:09 GMT

Hey Average Joe. What do you mean by "its hidden" in regards to the paypal credit.

Re: Got a preapproval email from Comenity/Overstock today...yes or no?

AverageJoesCredit — Thu, 18 May 2017 23:50:55 GMT

Hey Songburd18, Comenity's Paypal Credit does not report to the 3 credit bureaus, unless you default on the account for some reason, thus its hidden and does not affect your aaol or utilization. Similar to what Blispay started off as, they now only report to Experian.

Its pretty neat, ive used mine sparingly and have gotten 2 1k increases in the last 6 months

Re: Got a preapproval email from Comenity/Overstock today...yes or no?

Anonymous — Fri, 19 May 2017 03:17:47 GMT

oh wow cool! so if I apply for the paypal credit I wont get a hp since they dont report to anyone. cool. i think i may apply. im supposed to be gardening but i guess since it doesnt report i should be ok

Re: Got a preapproval email from Comenity/Overstock today...yes or no?

CountryLivin — Fri, 19 May 2017 03:33:10 GMT

@Anonymous wrote:
So, I finally got a preapproval offer in my email today from a card I have actually been interested in in the past, though not as much as others, Overstock from Comenity. $0 annual fee, up to 24 months' financing, but the APR is rather high at 27.74%. Worth exiting the garden to try for it or not? The offer expires June 2nd. In point of fact, having gotten this offer, I wonder if it's worth trying for Paypal Credit (also offered by Comenity) via eBay. What do you think?

They will ask for your social security number, but it will be a soft pull. If it's a preapproval, you can go for it now...it will be a soft pull. Overstock was my first store card and it has grown very fast! When I got mine, it was from an email that said I was preapproved...I entered my social and was using my accouunt within a few minutes. It will be a soft pull, so you can apply for the paypal credit and it will only be a hard pull for Paypal credit.

Re: Got a preapproval email from Comenity/Overstock today...yes or no?

Anonymous — Fri, 19 May 2017 11:28:19 GMT

@CountryLivin wrote:
@Anonymous wrote:
So, I finally got a preapproval offer in my email today from a card I have actually been interested in in the past, though not as much as others, Overstock from Comenity. $0 annual fee, up to 24 months' financing, but the APR is rather high at 27.74%. Worth exiting the garden to try for it or not? The offer expires June 2nd. In point of fact, having gotten this offer, I wonder if it's worth trying for Paypal Credit (also offered by Comenity) via eBay. What do you think?
They will ask for your social security number, but it will be a soft pull. If it's a preapproval, you can go for it now...it will be a soft pull. Overstock was my first store card and it has grown very fast! When I got mine, it was from an email that said I was preapproved...I entered my social and was using my accouunt within a few minutes. It will be a soft pull, so you can apply for the paypal credit and it will only be a hard pull for Paypal credit.

If it's a soft pull, that does help - and yes, it's a preapproval. Here's a screenshot of the key portion of the email (my real name and the preapproval offer number removed):

I have until June 2nd to reply to the offer, so I've got some time to think about it. I wish the 10% discount applied to books and movies (which amount for most of my online purchases), though.

Regarding Paypal Credit, I notice that the option is "greyed out" (unavailable, can't be selected) whenever I go into my eBay checkout page. The note says Paypal Credit may be unavailable if (1) the seller doesn't accept it; (2) the currency of the seller's country isn't one that Paypal handles; or (3) you have a Paypal SmartConnect or Paypal Mastercard already linked to your account. None of those apply in any of the instances I've tested, so I'm not sure exactly what's going on...maybe Paypal Credit is "greyed out" because I don't have a Paypal Credit account? I used to have a Bill Me Later (Paypal Credit's predecessor) account which was included in my bankruptcy in 2014, but like Paypal Credit, Bill Me Later was a "hidden" tradeline which never appeared in my credit reports pre- or post-BK; also, Comenity now handles Paypal Credit, so I wonder whether they even have access to the old Bill Me Later records.

Re: Got a preapproval email from Comenity/Overstock today...yes or no?

JR_TX — Fri, 19 May 2017 11:28:35 GMT

Songburd18 wrote :

oh wow cool! so if I apply for the paypal credit I wont get a hp since they dont report to anyone. cool. i think i may apply. im supposed to be gardening but i guess since it doesnt report i should be ok.

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Yeah Paypal credit by CCB doesn't report to any CRA but they will still HP you if you cold app most likely EQ. If you don't mind the hp then go ahead as it will be a hidden and ghost trade line from here on out unless of course you default as AJC stated. Good luck!

Re: Got a preapproval email from Comenity/Overstock today...yes or no?

Anonymous — Fri, 19 May 2017 11:30:32 GMT

@AverageJoesCredit wrote:
If i had to choose id go for paypal credit being thats its hidden, and can use it almost anywhere with 6 month 0% financing over $99 Just me though

See my previous post...any thoughts on why Paypal Credit is greyed out for me in the eBay checkout if none of the usual reasons apply to me? If the reason is simply that I don't have an account with them, I guess I'll have to apply separately.

Re: Got a preapproval email from Comenity/Overstock today...yes or no?

AverageJoesCredit — Fri, 19 May 2017 13:15:53 GMT

Sorry Songburd, yes you will get a hp to apply for Paypal credit but if its worth it go for it

Joe, yeah in order to utilize Paypal credit i believe you must have Paypal.

Re: Got a preapproval email from Comenity/Overstock today...yes or no?

Anonymous — Fri, 19 May 2017 13:34:31 GMT

@AverageJoesCredit wrote:
Sorry Songburd, yes you will get a hp to apply for Paypal credit but if its worth it go for it

Joe, yeah in order to utilize Paypal credit i believe you must have Paypal.

OK, yes, I do have a Paypal account (base Paypal, not Paypal Credit). I think I see now what's going on - I'm not logged on to Paypal at that point when I access the eBay checkout page so naturally the system can't tell whether or not I have a Paypal account.

Re: Got a preapproval email from Comenity/Overstock today...yes or no?

AverageJoesCredit — Fri, 19 May 2017 14:43:58 GMT

Not sure Joe , if im buying something on ebay and it shows me i can pay by paypal, so long as seller accepts PPC, i can choose either PP via my checking or PPC pay by credit.

Re: Got a preapproval email from Comenity/Overstock today...yes or no?

Anonymous — Fri, 19 May 2017 15:07:13 GMT

@AverageJoesCredit wrote:
Not sure Joe , if im buying something on ebay and it shows me i can pay by paypal, so long as seller accepts PPC, i can choose either PP via my checking or PPC pay by credit.

And therein lies the rub. I get the Paypal radio button (and Credit/Debit radio button) in the Checkout tab, but not the Paypal Credit radio button. This is what it looks like (again, personally identifiable information edited)

Re: Got a preapproval email from Comenity/Overstock today...yes or no?

Anonymous — Sat, 20 May 2017 22:05:58 GMT

Any new/further thoughts? I'm still on the fence about trying for this - on the one hand it'll ding my AAoA a bit, but on the other hand it's a card I've been interested in, it's a soft pull (probably) which won't show up as an inquiry (which is a good thing with inquiry-sensitive lenders like Penfed) and it'll expand my available credit. I really haven't found too much online about getting pre-approved Overstock card offers through the email.

Re: Got a preapproval email from Comenity/Overstock today...yes or no?

AverageJoesCredit — Sat, 20 May 2017 22:38:02 GMT

I sometimes see the ghost paypal credit when the seller doesnt accept Paypal credit. Going back to Overstock, if it would be an sp and you really would like it and will use it , you shouldnt let anyone hold you back. Sometimes in the credit game we have hits and misses and sometimes we just gotta go with our gut. I think once you get paypal credit after you set it up, cant remember if i did, think it was done auto or maybe it was easy. ,you should be able to have option of using it in checkout. Tough choice hope we helped a little

Re: Got a preapproval email from Comenity/Overstock today...yes or no?

AverageJoesCredit — Sat, 20 May 2017 22:44:51 GMT

Going back over this post, i think Joe you msy not be seeing the Paypal Credit option because you dont have it. Probably simple as that. The other three reasons you saw are valid as well but this is probably number 1. Now that i think of it getting the OS on sp only is great. Just remember it will lower your aaol hen reported. Just have to evaluate where you are going with your profile and do these cards effect any future apps you may do soon.

Re: Got a preapproval email from Comenity/Overstock today...yes or no?

Anonymous — Sun, 21 May 2017 00:26:01 GMT

Thanks. I'll go back over my current cart and want list on OS and then maybe I'll take the chance. Will have to drop out of the garden momentarily, I guess, but I'll get right back in.

Re: Got a preapproval email from Comenity/Overstock today...yes or no?

Anonymous — Sun, 21 May 2017 11:00:31 GMT

See my thread in Credit Card Approvals. I rolled the dice and was approved with (for me anyway!) an eye-popping $4K SL.

Re: Got a preapproval email from Comenity/Overstock today...yes or no?

Anonymous — Sun, 21 May 2017 19:24:06 GMT

Thread locked. Direct replies to approval thread

http://ficoforums.myfico.com/t5/Credit-Card-Approvals/Took-the-chance-on-Overstock-BIGGEST-SL-YET/td-p/4954813