topic Re: Victoria's Secret Pre Approval VS CareCredit in Credit Cards

Victoria's Secret Pre Approval VS CareCredit

Luxeedee — Sat, 26 Jun 2021 01:59:06 GMT

I was updating my VS profile address. I have never had a card with them. But once my info updated, they hit me with this "Congratulations You've Been PreApproved for the Victori's Secret Credit Card". My problem is I don't want any hard pulls right now and I plan to apply for a Care Credit card in the next 2-3 months and I don't want this to kill my shot. Is this actually a guaranteed card or is it just clever marketing and a hard pull is sure to follow?

Re: Victoria's Secret Pre Approval VS CareCredit

designated_knitter — Sat, 26 Jun 2021 02:14:57 GMT

@Luxeedee wrote:
I was updating my VS profile address. I have never had a card with them. But once my info updated, they hit me with this "Congratulations You've Been PreApproved for the Victori's Secret Credit Card". My problem is I don't want any hard pulls right now and I plan to apply for a Care Credit card in the next 2-3 months and I don't want this to kill my shot. Is this actually a guaranteed card or is it just clever marketing and a hard pull is sure to follow?

Data points differ on hard pull vs soft pull. However, I will say I've never had a Comenity "SCT" card like that result in a hard pull (and I keep my credit files on ice just to make sure!)

Comenity is the backer of Victoria's Secret. Synchrony is the backer of Care Credit. Did they tell you what your credit limit would be? If so, I suspect it is a solid offer and would be a soft pull.

That being said, Synchrony can be easily spooked and if you REALLY have your sites set on Care Credit and want to maximize your starting CL on that, I would not take the VS offer. I would wait until you are approved for Care Credit and then, if you still have the itch for VS, then go for it.

In my humble opinion, Care Credit is a much more useful card ... but I rarely buy lingerie! I will always have medical and vet expenses!

Flipside, VS, backed by Comenity, might grow insanely fast if they are anything like overstock and the other shopping card trick cards. Synchrony may be more cautious with the growth depending on your profile.

Just my humble thoughts... take their worth for what you paid for them... which is absolutely nothing!

Re: Victoria's Secret Pre Approval VS CareCredit

Luxeedee — Sat, 26 Jun 2021 02:25:34 GMT

@designated_knitter wrote:
@Luxeedee wrote:
I was updating my VS profile address. I have never had a card with them. But once my info updated, they hit me with this "Congratulations You've Been PreApproved for the Victori's Secret Credit Card". My problem is I don't want any hard pulls right now and I plan to apply for a Care Credit card in the next 2-3 months and I don't want this to kill my shot. Is this actually a guaranteed card or is it just clever marketing and a hard pull is sure to follow?

Data points differ on hard pull vs soft pull. However, I will say I've never had a Comenity "SCT" card like that result in a hard pull (and I keep my credit files on ice just to make sure!)

Comenity is the backer of Victoria's Secret. Synchrony is the backer of Care Credit. Did they tell you what your credit limit would be? If so, I suspect it is a solid offer and would be a soft pull.

That being said, Synchrony can be easily spooked and if you REALLY have your sites set on Care Credit and want to maximize your starting CL on that, I would not take the VS offer. I would wait until you are approved for Care Credit and then, if you still have the itch for VS, then go for it.

In my humble opinion, Care Credit is a much more useful card ... but I rarely buy lingerie! I will always have medical and vet expenses!

Flipside, VS, backed by Comenity, might grow insanely fast if they are anything like overstock and the other shopping card trick cards. Synchrony may be more cautious with the growth depending on your profile.

Just my humble thoughts... take their worth for what you paid for them... which is absolutely nothing!

They did not specify my credit limit. Here is what they said:

Subject to final credit approval. The Victoria’s Secret Credit card is issue by Comenity Bank. For Important Rate, Fee and other Cost information. Terms and Conditions. We will set your credit limit based on all information available to us at the time of final approval. Your credit limit may be higher or lower than disclosed in this offer.

I agree with your points and that is why I am torn. I'd like a Comenity that will blossom but I need the CareCredit for lipo later this Summer. I'm concerned I'm being penywise and pound foolish. I didn't even apply. I'm mad that they threw this Sophie's Choice on me tonight, the first night of Semi Annual Sale!

Re: Victoria's Secret Pre Approval VS CareCredit

rgd51 — Sat, 26 Jun 2021 02:33:48 GMT

@Luxeedee wrote:
@designated_knitter wrote:
@Luxeedee wrote:
I was updating my VS profile address. I have never had a card with them. But once my info updated, they hit me with this "Congratulations You've Been PreApproved for the Victori's Secret Credit Card". My problem is I don't want any hard pulls right now and I plan to apply for a Care Credit card in the next 2-3 months and I don't want this to kill my shot. Is this actually a guaranteed card or is it just clever marketing and a hard pull is sure to follow?

Data points differ on hard pull vs soft pull. However, I will say I've never had a Comenity "SCT" card like that result in a hard pull (and I keep my credit files on ice just to make sure!)

Comenity is the backer of Victoria's Secret. Synchrony is the backer of Care Credit. Did they tell you what your credit limit would be? If so, I suspect it is a solid offer and would be a soft pull.

That being said, Synchrony can be easily spooked and if you REALLY have your sites set on Care Credit and want to maximize your starting CL on that, I would not take the VS offer. I would wait until you are approved for Care Credit and then, if you still have the itch for VS, then go for it.

In my humble opinion, Care Credit is a much more useful card ... but I rarely buy lingerie! I will always have medical and vet expenses!

Flipside, VS, backed by Comenity, might grow insanely fast if they are anything like overstock and the other shopping card trick cards. Synchrony may be more cautious with the growth depending on your profile.

Just my humble thoughts... take their worth for what you paid for them... which is absolutely nothing!
They did not specify my credit limit. Here is what they said:
Subject to final credit approval. The Victoria’s Secret Credit card is issue by Comenity Bank. For Important Rate, Fee and other Cost information. Terms and Conditions. We will set your credit limit based on all information available to us at the time of final approval. Your credit limit may be higher or lower than disclosed in this offer.

I agree with your points and that is why I am torn. I'd like a Comenity that will blossom but I need the CareCredit for lipo later this Summer. I'm concerned I'm being penywise and pound foolish. I didn't even apply. I'm mad that they threw this Sophie's Choice on me tonight, the first night of Semi Annual Sale!

Based on the way that is written for the VS I would bet it would be a hard pull especially if it is saying subject to approval. I don't have either of the cards you mentioned but the care credit one seems a lot more useful!

Re: Victoria's Secret Pre Approval VS CareCredit

Anonymous — Sat, 26 Jun 2021 02:57:05 GMT

@Luxeedee wrote:
I was updating my VS profile address. I have never had a card with them. But once my info updated, they hit me with this "Congratulations You've Been PreApproved for the Victori's Secret Credit Card". My problem is I don't want any hard pulls right now and I plan to apply for a Care Credit card in the next 2-3 months and I don't want this to kill my shot. Is this actually a guaranteed card or is it just clever marketing and a hard pull is sure to follow?

The SCT generally is not a HP. But HPs are not the issue, truly, when apping for credit, a new account will still show up well before you app for CareCredit. HPs are really overrated, it is new accounts that are the problem, and people seem to have them confused as which is worse.

It sounds like a HP if it does not say something like "congrats, you are pre-approved for a $500 credit limit!", or whatever. The limit is not a hard limit, either. Mine said $250, but I got $1k.

Mine has not grown an iota in the 18 months I have had it. It is still at $1k since approval and every CLI request has been denied. Maybe it grows for some, but it certainly has not at all for me.

If you want CareCredit, I would wait before bothering with VS, since that seems like more of a want vs a need with Care Credit.

Re: Victoria's Secret Pre Approval VS CareCredit

designated_knitter — Sat, 26 Jun 2021 03:10:34 GMT

Plus, if you think about it -- the time you will really WANT Victoria's Secret is AFTER the Liposuction :-)

Patience, Grasshopper (says the woman who has basically NONE!)

Re: Victoria's Secret Pre Approval VS CareCredit

Luxeedee — Sat, 26 Jun 2021 03:13:26 GMT

@Anonymous wrote:

The SCT generally is not a HP. But HPs are not the issue, truly, when apping for credit, a new account will still show up well before you app for CareCredit. HPs are really overrated, it is new accounts that are the problem, and people seem to have them confused as which is worse.

It sounds like a HP if it does not say something like "congrats, you are pre-approved for a $500 credit limit!", or whatever. The limit is not a hard limit, either. Mine said $250, but I got $1k.

Mine has not grown an iota in the 18 months I have had it. It is still at $1k since approval and every CLI request has been denied. Maybe it grows for some, but it certainly has not at all for me.

If you want CareCredit, I would wait before bothering with VS, since that seems like more of a want vs a need with Care Credit.

I agree! I got 2 new cards and I was so happy. My credit scores started at 740 and up. Once I was approved, I dropped 40-60 points! I was shocked. I thought my scores would go up once I followed the CRA advice and thickened my file with more cards. I have 3 now. So I am paranoid. My usage is below 5% on all my cards.

So I hope I get my scores back in very good range before I apply with CareCredit. I have some weeks to go. I'm preparing for my consultation, and setting a date for surgery. It should be about $6000 and I'd like to put at least some on the card.

Re: Victoria's Secret Pre Approval VS CareCredit

designated_knitter — Sat, 26 Jun 2021 03:20:38 GMT

@Luxeedee wrote:
@Anonymous wrote:

The SCT generally is not a HP. But HPs are not the issue, truly, when apping for credit, a new account will still show up well before you app for CareCredit. HPs are really overrated, it is new accounts that are the problem, and people seem to have them confused as which is worse.

It sounds like a HP if it does not say something like "congrats, you are pre-approved for a $500 credit limit!", or whatever. The limit is not a hard limit, either. Mine said $250, but I got $1k.

Mine has not grown an iota in the 18 months I have had it. It is still at $1k since approval and every CLI request has been denied. Maybe it grows for some, but it certainly has not at all for me.

If you want CareCredit, I would wait before bothering with VS, since that seems like more of a want vs a need with Care Credit.
I agree! I got 2 new cards and I was so happy. My credit scores started at 740 and up. Once I was approved, I dropped 40-60 points! I was shocked. I thought my scores would go up once I followed the CRA advice and thickened my file with more cards. I have 3 now. So I am paranoid. My usage is below 5% on all my cards.
So I hope I get my scores back in very good range before I apply with CareCredit. I have some weeks to go. I'm preparing for my consultation, and setting a date for surgery. It should be about $6000 and I'd like to put at least some on the card.

You are doing the right thing... wait 3 months and you should start getting those points back. You have the optimal number of cards for Fico purposes. And when you get back to 740s, I'm quite sure Victoria will be ready and waiting for you... and by then you'll probably realize you've moved past her and don't need her anymore :-)

Good luck with your procedures this summer!!!

Re: Victoria's Secret Pre Approval VS CareCredit

Anonymous — Sat, 26 Jun 2021 03:45:31 GMT

@Luxeedee wrote:
@Anonymous wrote:

The SCT generally is not a HP. But HPs are not the issue, truly, when apping for credit, a new account will still show up well before you app for CareCredit. HPs are really overrated, it is new accounts that are the problem, and people seem to have them confused as which is worse.

It sounds like a HP if it does not say something like "congrats, you are pre-approved for a $500 credit limit!", or whatever. The limit is not a hard limit, either. Mine said $250, but I got $1k.

Mine has not grown an iota in the 18 months I have had it. It is still at $1k since approval and every CLI request has been denied. Maybe it grows for some, but it certainly has not at all for me.

If you want CareCredit, I would wait before bothering with VS, since that seems like more of a want vs a need with Care Credit.
I agree! I got 2 new cards and I was so happy. My credit scores started at 740 and up. Once I was approved, I dropped 40-60 points! I was shocked. I thought my scores would go up once I followed the CRA advice and thickened my file with more cards. I have 3 now. So I am paranoid. My usage is below 5% on all my cards.
So I hope I get my scores back in very good range before I apply with CareCredit. I have some weeks to go. I'm preparing for my consultation, and setting a date for surgery. It should be about $6000 and I'd like to put at least some on the card.

My personal suggestion, with experience with both VS and CareCredit, is def wait on VS, but often people wait to get CareCredit until they actually use it. I suggest getting it at least 3 months before you need to use it.

With your scores being in the 700s, there is a good chance you will get what you need or you can recon a higher SL, but even at that, if you got a 6k limit and need 6k (often recons give you what you need, not taking util into account), that will put you at 100% util. At least it would be covered, that is priority one, and hopefully your provider can give you a 12-24 month, 0% promo along with it, but if you get it at least 3 months in advance, you could always grow the card further, need be.

My SO got CareCredit with 626 TU VS4.0 (the score Sync/CareCredit uses) and got a non-negotiable $1k SL when he needed $7k. Better than nothing, but definitely put a huge dent in our savings. The nice thing was, as his scores continued to improve and his relationship with Sync progressed nicely, every 3 months he was able to get a 3x CLI! I wish I had known this beforehand and had not waited, as we could have had the whole procedure covered had we planned a little better.

$1k > $3k > $9k

We have not asked for more since, but I believe limits go up to $20-$25k+. We always ask for max because they will counter with what they are willing to give.

So, even if you do wait or app beforehand, at least after 3 months, you should hopefully get a nice 3x CLI. Other DPs show the 3x CLI, as well, so it is not isolated.

The big score drops, I am not sure if you are talking Fico or VS, but as I mentioned, Sync uses VS 4.0, which is not accessible anywhere outside of Sync, which they give that score to you monthly in your account. It does not even compare to my SO's VS3.0 or Fico scores, so it will be hard to guess what it is, but if you are in the 700's, I would assume you would be fine. Sync and CareCredit both seem very generous and accommodating.

Re: Victoria's Secret Pre Approval VS CareCredit

designated_knitter — Sat, 26 Jun 2021 03:43:14 GMT

Excellent point about getting it before you need it -- a lot like insurance!

Re: Victoria's Secret Pre Approval VS CareCredit

Luxeedee — Sat, 26 Jun 2021 03:56:07 GMT

@Anonymous wrote:
@Anonymous

The big score drops, I am not sure if you are talking Fico or VS, but as I mentioned, Sync uses VS 4.0, which is not accessible anywhere outside of Sync, which they give that score to you monthly in your account. It does not even compare to my SO's VS3.0 or Fico scores, so it will be hard to guess what it is, but if you are in the 700's, I would assume you would be fine. Sync and CareCredit both seem very generous and accommodating.

I meant my FICO scores took a tumble. I'm not familiar with VS scores?

Sync just gave me an Old Navy card so hopefully this relationship will help me get the CareCredit.

What you said about growing the card is making me wonder if I should schedule surgery for Fall...

Re: Victoria's Secret Pre Approval VS CareCredit

designated_knitter — Sat, 26 Jun 2021 06:35:45 GMT

@Luxeedee wrote:
@Anonymous wrote:
@Anonymous

The big score drops, I am not sure if you are talking Fico or VS, but as I mentioned, Sync uses VS 4.0, which is not accessible anywhere outside of Sync, which they give that score to you monthly in your account. It does not even compare to my SO's VS3.0 or Fico scores, so it will be hard to guess what it is, but if you are in the 700's, I would assume you would be fine. Sync and CareCredit both seem very generous and accommodating.
I meant my FICO scores took a tumble. I'm not familiar with VS scores?
Sync just gave me an Old Navy card so hopefully this relationship will help me get the CareCredit.
What you said about growing the card is making me wonder if I should schedule surgery for Fall...

So if you have Old Navy backed by Synchrony, they will tell you what your Vantage 4 score is on the website where you manage your bill. That is what Synchrony uses for extending credit as it provides trended data with regards to balances. It weights things differently than Fico does. As you are preparing to app for Care Credit, you'll want to keep on eye on your Vantage 4 score and see if it is trending up or down.

That being said, Care Credit is not hard to qualify for. I was approved last month with scores close to 100 points lower than yours. I even had an unpaid charge-off from Care Credit to the tune of over 800 bucks but the computer must have shorted out because I was approved. I only have a 600 starting limit but it's a start.

So perhaps apply sooner rather than waiting and starting at the 3-4 bill cycle, ask for a CLI. It should be a soft pull. When you apply, ask for WAAY more than you need (10k) and they will counter. (I asked for 3k... got 600... but hey, it was approved after I burned them so really can't complain)

Then, in the fall, when you really want Victoria Secret, use the shopping cart trick to get a soft pull approval rather than doing a cold app which will do a hard pull. My understanding from the forums is that Victoria Secret is one of the easiest SCT cards to get... as you approach the holidays and the economy continues to emerge from the COVID Coma, that should be even more true.

Good luck!

Re: Victoria's Secret Pre Approval VS CareCredit

Luxeedee — Wed, 18 Aug 2021 19:32:26 GMT

OK I'm back! Because Care.com denied me based on not having high enough credit limits on my cards, I decided to wait to get some CLI on my existing cards. My strategy has worked! I got a 3x CLI on my Amex and a smaller CLI on my Discover. I'm going to try for a CLI on Old Navy OR try to have my store card converted into an Old Navy Visa. My score have thankfully rebounded to 715. THEN I'm going back to Care.com to try again. I paid out of pocket for some dentistry. But I'm holding out hope I can charge the plastic surgery rather than give up more cash right now. Wish me luck.

Re: Victoria's Secret Pre Approval VS CareCredit

Anonymous — Thu, 26 Aug 2021 19:36:43 GMT

I'm not sure if my experience will help with any information you might be seeking but last week I created a pink account and downloaded the app so I could save things I was looking at.

I think I was checking out out when somewhere on the the screen it said I was pre-approved and that if I applied that I could instantly use the card to pay for the purchase. So I applied and they approved me for 600. My order was around 100. I also got a discount for applying and using the card for that order. I haven't found any hard inquiries on any of my reports yet. The card is already reporting with balance on my all three CB. I haven't received the card yet so I can't login and create an account to pay off. Approved, reporting, and no hard inquiries within 7-10 days from applying. Still not sure if they are going to do a hard pull...

I don't have any experience with care credit but from all the stuff I've read it sounds like a nightmare.

I'm going to look into opening up a new CC with a high starting limit with 0 apr or one that I can transfer the balance with 0 apr for a certain amount of months. I plan on doing it right before a planned surgery. I also don't plan on having surgery for another 1-2 years so I stopped looking at those options and I'm focused more on improving my credit.

Re: Victoria's Secret Pre Approval VS CareCredit

Luxeedee — Thu, 26 Aug 2021 19:56:08 GMT

OK Ijust read the reviews and....it's a horror show! https://www.sitejabber.com/reviews/carecredit.com

Re: Victoria's Secret Pre Approval VS CareCredit

Anonymous — Thu, 26 Aug 2021 19:58:31 GMT

I've been looking into abdominaplasty w/ lipo and I've read that it's better if you get it done in the winter months.

I'm pushing my surgery back to save more money, to lose more weight, and so I can get it done in the winter.
Getting surgery done was probably my second reason on getting my credit in check.

My credit scores have recently taken a dive from the 750s to the 720s because I went from 2 CC to 6 CC. I also closed one CC that had a yearly fee, no rewards, and they we're keeping my security deposit with no option to graduate to unsecured.

The VS card is my last CC until I schedule my surgery.

Re: Victoria's Secret Pre Approval VS CareCredit

Luxeedee — Thu, 26 Aug 2021 20:04:24 GMT

I hear you! I've been working out since July to prepare. I'm home from Covid. So I've spent all August getting my teeth done. I have my 2nd lipo consultation next week. I have mixed feelings about waiting. Now that I have multiple cards, I want to get it done and have months for recovery and fine tuning my look.

Re: Victoria's Secret Pre Approval VS CareCredit

Anonymous — Thu, 26 Aug 2021 20:08:56 GMT

@Luxeedee

Care credit is what I first initially looked into. I've read horror stories about care credit in some of the surgery support groups I'm apart of. I'm sure it works fine for some people but I feel like they take advantage of a lot of people.

I think if your credit is in good shape and work on rasing your CLs that there are better options.
Im pretty sure there are other cc options that have high starting limits, rewards, and 0 apr for certain number of months.

Re: Victoria's Secret Pre Approval VS CareCredit

Anonymous — Thu, 26 Aug 2021 20:27:09 GMT

So did I lol

I probably could just went ahead and done mine. They wouldn't discount my quote for how far I wanted to schedule out. My quote is BMI based and I've already lost more weight since then. If I lose more then its cheaper and less of a risk. I've waited a long time so I was torn on delaying it. I've only gotten one quote and he's the only surgeon I have even considered. My quote was almost 20,000 with an additional 3000 for scar revision.

Delaying my surgery is giving me a chance to research more surgeons that might be closer. It's also helping to put myself in a position for better financing options. I also want to have extra funds just in case of emergency related surgery cost.
There's a lot of good that comes in waiting but it's soooo tough!

Re: Victoria's Secret Pre Approval VS CareCredit

Duriel — Thu, 26 Aug 2021 21:09:26 GMT

Just one data point but I was approved for carecredit with a brand new fnbo evergreen reporting. Also did you run the prequal for carecredit? "Estimated procedure amount" is desired credit limit to me. I suspect synchrony doesn't want people to max out the card.