topic Re: Pre-approval VS Pre-selected VS invitation offers in Credit Cards

Pre-approval VS Pre-selected VS invitation offers

myjourney — Fri, 22 Feb 2013 05:36:58 GMT

Question for the forum

Pre-approvals and invitations to apply are usually from marketing firms and no real background on your credit worthiness has been done other than your name was sold to them by a 3rd party as fitting the criteria in general?

Pre-selected has the opt out notice on it which states if you wish not to receive offers you can opt out.

These are usually from someone who has done there homework on your credit worthiness by soft pulling your CR and you fit there requiremnets at that time thus increasing your odds of approval?

I’m very interested in the results sorry for the long post Thanks,

So I would ask that you post your experiences of which you have had success with? Love this forum

Pre-approval

Invitation to apply

Pre-selected

Re: Pre-approval VS Pre-selected VS invitation offers

Bluedog23 — Fri, 22 Feb 2013 06:12:19 GMT

I too am curious as to others experience with this. Yesterday received a mail offer from Chase for the Slate. It just uses the word "offer". Not preapproved or preselected. It does have an invitation number and I read somewhere on this site that this increases chances. Also has the opt out statement. I 'm not particularly interested in the slate, would much rather have the Freedom.

About a month ago, I got a "preselected " offer in the mail from Sam's for the store card. Letter specifically said to accept this card just go into store and show drivers lic. I did and was given a 1000.00 CL. No hard pull. So I'm thinking preselected might be better???

Actually the wording on the Sam's offer was prequalified not preselected. sorry.

Re: Pre-approval VS Pre-selected VS invitation offers

myjourney — Fri, 22 Feb 2013 06:04:53 GMT

@Bluedog23 wrote:
I too am curious as to others experience with this. Yesterday received a mail offer from Chase for the Slate. It just uses the word "offer". Not preapproved or preselected. It does have an invitation number and I read somewhere on this site that this increases chances. Also has the opt out statement. I 'm not particularly interested in the slate, would much rather have the Freedom.

About a month ago, I got a "preselected " offer in the mail from Sam's for the store card. Letter specifically said to accept this card just go into store and show drivers lic. I did and was given a 1000.00 CL. No hard pull. So I'm thinking preselected might be better???

Interesting

Re: Pre-approval VS Pre-selected VS invitation offers

firstladyd — Fri, 22 Feb 2013 06:26:54 GMT

Before I applied for my Discover card I got a bunch of mailings from them. I don't remember what they said but I do recall what finally caught my attention was that they printed my name and address on the return envelope to respond to the offer. I got my first huge approval from them $5500.

Re: Pre-approval VS Pre-selected VS invitation offers

myjourney — Fri, 22 Feb 2013 06:33:54 GMT

Firstladyd....now you will have me checking envelopes LOl

Re: Pre-approval VS Pre-selected VS invitation offers

firstladyd — Fri, 22 Feb 2013 07:51:23 GMT

I know right. Ever since then I check too, but haven't gotten another mailing like that.

Re: Pre-approval VS Pre-selected VS invitation offers

firstladyd — Fri, 22 Feb 2013 08:00:07 GMT

Also what I look for to see if its a good offer is the terms and conditions. If its just the standard as advertised general Apr range or a specific #. For instance I got one from chase for freedom and the apr was specific 18% and not the general 12.9-23.9. Not their best Apr but not their highest.

Re: Pre-approval VS Pre-selected VS invitation offers

Bluedog23 — Fri, 22 Feb 2013 12:29:01 GMT

My Chase slate offer mentioned a specific apr of 16.99. Not the 13.99-23.99 mentioned On their slate site. Now I'm starting to think that maybe this is a real offer. only problem is I want the freedom not the slate.

Re: Pre-approval VS Pre-selected VS invitation offers

dddewdrop — Fri, 22 Feb 2013 12:55:07 GMT

Most of that pre stuff means nothing. It just means they want you to apply. I believe that Slate is considered among most ot be easier to get accepted for than Freedom. If you are acceptedor Slate then I believe it would be easier for you to switch it (PR) to a Freedom than to apply for freedom directly.

Re: Pre-approval VS Pre-selected VS invitation offers

myjourney — Fri, 22 Feb 2013 17:59:25 GMT

This is getting very interesting indeed.

Re: Pre-approval VS Pre-selected VS invitation offers

Anonymous — Fri, 22 Feb 2013 18:13:14 GMT

I used the shopping cart trick to get VS

Re: Pre-approval VS Pre-selected VS invitation offers

myjourney — Fri, 22 Feb 2013 18:17:51 GMT

@Anonymous wrote:
I used the shopping cart trick to get VS

Lol

Re: Pre-approval VS Pre-selected VS invitation offers

myjourney — Fri, 22 Feb 2013 18:19:33 GMT

@firstladyd wrote:
Also what I look for to see if its a good offer is the terms and conditions. If its just the standard as advertised general Apr range or a specific #. For instance I got one from chase for freedom and the apr was specific 18% and not the general 12.9-23.9. Not their best Apr but not their highest.

WOW...will keep my eyes open for that one!!!!!!!!!!!!

Re: Pre-approval VS Pre-selected VS invitation offers

myjourney — Fri, 22 Feb 2013 19:21:55 GMT

@dddewdrop wrote:
Most of that pre stuff means nothing. It just means they want you to apply. I believe that Slate is considered among most ot be easier to get accepted for than Freedom. If you are acceptedor Slate then I believe it would be easier for you to switch it (PR) to a Freedom than to apply for freedom directly.

Noted

Re: Pre-approval VS Pre-selected VS invitation offers

SpiceIslander — Fri, 22 Feb 2013 19:28:31 GMT

I'm not sure of the answer to your question but I think the wording of the "offer" might be key. I'd received a "pre-approval" (not sure what kind) from FNBO. Of the many I was receiving, that one got my attention. It told me that my APR WILL be 13.9 (not a range) among other things. When I got the card, that was exactly the APR I got.

Re: Pre-approval VS Pre-selected VS invitation offers

myjourney — Fri, 22 Feb 2013 23:08:24 GMT

@SpiceIslander wrote:
I'm not sure of the answer to your question but I think the wording of the "offer" might be key. I'd received a "pre-approval" (not sure what kind) from FNBO. Of the many I was receiving, that one got my attention. It told me that my APR WILL be 13.9 (not a range) among other things. When I got the card, that was exactly the APR I got.

Someone else also mentioned that as being a key...... thanks SpiceIslander!

Re: Pre-approval VS Pre-selected VS invitation offers

icetrap06 — Fri, 22 Feb 2013 23:18:25 GMT

I used to get tons of Delta AMEX pre-qualified offers. Tried a few times and all attempts failed. At the time, I flew Delta alot for my job (and I had ton's of points)...so my guess is my name was on this list b/c Delta was my primary airline. Flash forward 2 years and I was approved for the Green and SPG (no pre-approvals received for those) after a dramatic increase in score.

Re: Pre-approval VS Pre-selected VS invitation offers

myjourney — Fri, 22 Feb 2013 23:22:39 GMT

Seems to be a few that noticed a certain interest rate or even a pre-filled out envelope. I have mixed review between invitations and preselected

Re: Pre-approval VS Pre-selected VS invitation offers

myjourney — Fri, 22 Feb 2013 23:25:39 GMT

@icetrap06 wrote:
I used to get tons of Delta AMEX pre-qualified offers. Tried a few times and all attempts failed. At the time, I flew Delta alot for my job (and I had ton's of points)...so my guess is my name was on this list b/c Delta was my primary airline. Flash forward 2 years and I was approved for the Green and SPG (no pre-approvals received for those) after a dramatic increase in score.

So none at all thanks icetrap06

Re: Pre-approval VS Pre-selected VS invitation offers

Anonymous — Fri, 22 Feb 2013 23:29:48 GMT

I've been receiving several mailings a month recently. Some were pre-selected & others were pre-approved. Usually just shred them but took a look at two this week, one from FNBO for a am-ex card and one from Citbank for a Simplicity card. Both were 18 months 0% but the Citi card paperwork stated right on it that my percentage rate after 18 months would be 13.99%. Applied online and was approved for $9,000. The Citi was pre-selected and the FNBO was pre-approved, so I don't think it matters much either way.