topic Re: US Bank "pre-qualified" vs. "pre-selected" in Credit Cards

US Bank "pre-qualified" vs. "pre-selected"

Anonymous — Wed, 02 Sep 2009 19:56:25 GMT

Several months ago, received a "pre-qualified" letter from US Bank.

Today, received a "pre-selected" letter from them. The second letter mentions my status as an "excellent banking customer".

My question is whether there a differences between these 2 letters, or is it simply US Bank semantics.

Re: US Bank "pre-qualified" vs. "pre-selected"

Anonymous — Thu, 03 Sep 2009 01:00:34 GMT

Yes I do believe it is semantics. The "preselected prescreened means your credit profile being softed by there standards and there is a high probability you could meet there credit profile as a potential customer.

Think of it like dating an unknown person a mutual friend recommends someone to be a potential match for you.

After the date " hard inquiry" the like hood of some chemistry would be revealed and you would pursue the relationship " issue the card" or you decline her because of the the finer details.

Re: US Bank "pre-qualified" vs. "pre-selected"

Logical — Thu, 03 Sep 2009 03:55:07 GMT

Twice, a year apart, I received letters from US Bank worded as if they already had the card stamped and just waiting for me to apply. I do not remember how it was worded now, but the second time I read it several times closely. Burned twice. There will never be a third.

Re: US Bank "pre-qualified" vs. "pre-selected"

Anonymous — Thu, 03 Sep 2009 04:02:55 GMT

@Anonymous wrote:
Several months ago, received a "pre-qualified" letter from US Bank.

Today, received a "pre-selected" letter from them. The second letter mentions my status as an "excellent banking customer".

My question is whether there a differences between these 2 letters, or is it simply US Bank semantics.

Any way you slice it it is still a pre-app and you still have to go thru the process of asking for the card. They will run your credit and scrutinize your app (most likely electronically). You can be denied. There is no difference.

Message Edited by creditwherecreditisdue on 09-03-2009 12:02 AM

Re: US Bank "pre-qualified" vs. "pre-selected"

Anonymous — Thu, 03 Sep 2009 04:04:39 GMT

@Anonymous wrote:
@Anonymous wrote:
Several months ago, received a "pre-qualified" letter from US Bank.

Today, received a "pre-selected" letter from them. The second letter mentions my status as an "excellent banking customer".

My question is whether there a differences between these 2 letters, or is it simply US Bank semantics.

Any way you slice it it is still a pre-app and you still have to go thru the process of asking for the card. They will run your credit and scrutinize your app (most likely electronically). You can be denied. There is no difference.
Message Edited by creditwherecreditisdue on 09-03-2009 12:02 AM

Thanks. Undoubtedly, you're right. I'll just wait for my "pre-declined" letter.

Re: US Bank "pre-qualified" vs. "pre-selected"

Anonymous — Thu, 03 Sep 2009 04:10:47 GMT

@Anonymous wrote:
@Anonymous wrote:
@Anonymous wrote:
Several months ago, received a "pre-qualified" letter from US Bank.

Today, received a "pre-selected" letter from them. The second letter mentions my status as an "excellent banking customer".

My question is whether there a differences between these 2 letters, or is it simply US Bank semantics.

Any way you slice it it is still a pre-app and you still have to go thru the process of asking for the card. They will run your credit and scrutinize your app (most likely electronically). You can be denied. There is no difference.
Message Edited by creditwherecreditisdue on 09-03-2009 12:02 AM
Thanks. Undoubtedly, you're right. I'll just wait for my "pre-declined" letter.

I may opt out very soon. The pre-app's have dwidled to almost nothing and I do question their value. Strange I should think that way since I have never been denied when app'ing one I wanted.

Re: US Bank "pre-qualified" vs. "pre-selected"

Anonymous — Thu, 03 Sep 2009 04:31:33 GMT

@Anonymous wrote:
@Anonymous wrote:
@Anonymous wrote:
Several months ago, received a "pre-qualified" letter from US Bank.

Today, received a "pre-selected" letter from them. The second letter mentions my status as an "excellent banking customer".

My question is whether there a differences between these 2 letters, or is it simply US Bank semantics.

Any way you slice it it is still a pre-app and you still have to go thru the process of asking for the card. They will run your credit and scrutinize your app (most likely electronically). You can be denied. There is no difference.
Message Edited by creditwherecreditisdue on 09-03-2009 12:02 AM
Thanks. Undoubtedly, you're right. I'll just wait for my "pre-declined" letter.

LOL!

IMHO, if you want the card it is a good one. They must have seen something in your credit profile worth sending you the invitations to apply, especially these days.. No CC company, I am aware of, will guarantee a CC. I have a US Bank CC and like my card for a variety of reasons. US Bank is a solid big bank and the card will grow with you.

If you do decide to apply, please inform us of the results.

Message Edited by plasticman on 09-02-2009 09:31 PM

Re: US Bank "pre-qualified" vs. "pre-selected"

Anonymous — Thu, 03 Sep 2009 04:32:37 GMT

@Anonymous wrote:
@Anonymous wrote:
@Anonymous wrote:
@Anonymous wrote:
Several months ago, received a "pre-qualified" letter from US Bank.

Today, received a "pre-selected" letter from them. The second letter mentions my status as an "excellent banking customer".

My question is whether there a differences between these 2 letters, or is it simply US Bank semantics.

Any way you slice it it is still a pre-app and you still have to go thru the process of asking for the card. They will run your credit and scrutinize your app (most likely electronically). You can be denied. There is no difference.
Message Edited by creditwherecreditisdue on 09-03-2009 12:02 AM
Thanks. Undoubtedly, you're right. I'll just wait for my "pre-declined" letter.
LOL!

IMHO, if you want the card it is a good one. They must have seen something in you credit profile worth sending you the invitations to apply, especially these days.. No CC company, I am aware of, will guarantee a CC. I have a US Bank CC and like my card for a variety of reasons. US Bank is a solid big bank and the card will grow with you.

If you do decide to apply, please inform us of the results.

I came as close as you can come to a "guaranteed" CC twice this year:

An "invitation to accept" a Macy's Visa, and
A PenFed pre-app for $8.2K revolving credit in various forms

I accepted both and both were sent to me w/o a hard INQ. That's about as good as it gets.

Re: US Bank "pre-qualified" vs. "pre-selected"

Anonymous — Thu, 03 Sep 2009 04:40:35 GMT

@Anonymous wrote:
@Anonymous wrote:
@Anonymous wrote:
@Anonymous wrote:
@Anonymous wrote:
Several months ago, received a "pre-qualified" letter from US Bank.

Today, received a "pre-selected" letter from them. The second letter mentions my status as an "excellent banking customer".

My question is whether there a differences between these 2 letters, or is it simply US Bank semantics.

Any way you slice it it is still a pre-app and you still have to go thru the process of asking for the card. They will run your credit and scrutinize your app (most likely electronically). You can be denied. There is no difference.
Message Edited by creditwherecreditisdue on 09-03-2009 12:02 AM
Thanks. Undoubtedly, you're right. I'll just wait for my "pre-declined" letter.
LOL!

IMHO, if you want the card it is a good one. They must have seen something in you credit profile worth sending you the invitations to apply, especially these days.. No CC company, I am aware of, will guarantee a CC. I have a US Bank CC and like my card for a variety of reasons. US Bank is a solid big bank and the card will grow with you.

If you do decide to apply, please inform us of the results.
I came as close as you can come to a "guaranteed" CC twice this year:
An "invitation to accept" a Macy's Visa, and
A PenFed pre-app for $8.2K revolving credit in various forms

I accepted both and both were sent to me w/o a hard INQ. That's about as good as it gets.

I stand corrected to some degree. Any CC company whom will have you apply without a hard inquiry is as good as it gets. I have never had this offered to me and I would venture to say it is uncommon to see such an offer.

Re: US Bank "pre-qualified" vs. "pre-selected"

Anonymous — Thu, 03 Sep 2009 04:44:16 GMT

A) I was an existing customer of both institutions, and B) notwithstanding A) it is very unusual. Good karma returned for once I suppose.

Re: US Bank "pre-qualified" vs. "pre-selected"

Anonymous — Thu, 03 Sep 2009 20:37:18 GMT

@Anonymous wrote:
Today, received a "pre-selected" letter from them. The second letter mentions my status as an "excellent banking customer".

DH also received the "PRE-SELECTED" letter. Small print at the bottom indicates "You have been pre-selected based on your account relationship with U.S. Bank."

We've had joint checking & savings along with overdraft with them for 7 years (and automatic deposit). For awhile last year, we were getting regular phone calls inviting us to apply to credit products.

There have never been softs on either of our reports - I doubt that our FICO reports would qualify for their products - so we are waiting til next year before we app with them. Their cards are high on our "wanna-have" list.

(Just read the fine print on the back: Your exact credit limit will be determined by the income reported on your Acceptance Certificate. We may, however, obtain information from credit bureaus to determine the exact amount of credit that you are qualified to receive. We may also obtain credit reports from time to time to determine your continued eligibility for credit.) So it appears that they haven't pulled credit, and filling out the app may or may not trigger a pull.

Message Edited by beamMEup on 09-03-2009 02:36 PM

Message Edited by beamMEup on 09-03-2009 02:37 PM