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BBVA Preapproval. Any good?

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Valued Contributor

BBVA Preapproval. Any good?

Received a BBVA preapproval in the mail.  Are they BK friendly?  Are their preapprovals any good?

Ch 7 Discharge 3/12/2018
Cap One QS1 $3,500, Wayfair $5,000, Blaze MC $3,000, Kohls $500
Infiniti Financial lease

AU Cards: CSP $40.7k; Chase Marriott $20k; Discover $7.8k; CapOne Venture $30k
Message 1 of 6
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Senior Contributor

Re: BBVA Preapproval. Any good?

From last year. Not much talk about them since its a regional bank. But it appears to be pretty good chance.

https://ficoforums.myfico.com/t5/Credit-Card-Approvals/BBVA-Compass-ClearPoints-Visa-Approved/td-p/5...





My posts are JMHO. I DO NOT claim to be a FICO expert. Just sharing my experiences from rebuild to recovery after BK DC. My siggy is not to brag at all. Just to show fellow members what can be accomplished when you do it right and play the FICO Credit Game.
Message 2 of 6
Senior Contributor

Re: BBVA Preapproval. Any good?

If there's a code in the mailer the approval rate has been pretty good. They sent a bunch out in March or so, I got one and was instantly approved for $6100 limit. My BK7 is 9 years old, but they seem to be generating these offers from pre-screened lists from a CRA, so they should know about your 2018 BK. They pull Experian.

 

It's a nice credit card, you select a 3% and 2% rewards category quarterly from a pretty large list, all other purchases earn 1%. I have groceries and Healthcare as my categories, my dentist is probably planning  vacation to Tahiti from the money he's making off me lately . . .


Fico 08: 734/716/734 TU/EX/EQ
Message 3 of 6
Contributor

Re: BBVA Preapproval. Any good?


@sccredit wrote:

Received a BBVA preapproval in the mail.  Are they BK friendly?  Are their preapprovals any good?


My bk7 dc was about a month prior to yours, and I received a pre-qual mailer from BBVA last month. Applied and got approved for 2K. I have read a few other similar stories here. So their pre-quals seem to be pretty solid. But the SL is probably not going to be high considering how recent the BK is. Also, several people, me included, have reported their applicatoin going into multi-days review. They took 2 days to get mine approved. So not getting an instant decision is nothing to worry about if you choose to apply.

Message 4 of 6
Valued Contributor

Re: BBVA Preapproval. Any good?

Thanks all for the replies.  I am going to hold off.  We are going to be moving in the next month and I'll wait until we have an approved lease application on a house before I apply for anything.  

Ch 7 Discharge 3/12/2018
Cap One QS1 $3,500, Wayfair $5,000, Blaze MC $3,000, Kohls $500
Infiniti Financial lease

AU Cards: CSP $40.7k; Chase Marriott $20k; Discover $7.8k; CapOne Venture $30k
Message 5 of 6
Member

Re: BBVA Preapproval. Any good?

I was approved for a BBVA clearpoints visa with my Chapter 7 Bankruptcy discharged on 02/2018. Recieved a letter with a code and it worked. My scores were TU: 655 EXP: 669 EQUI:659 they pulled EXP: 669 and I got a 900.00 SL. Since I have 3 other cards with much larger limits I really want to cancel it but since BBVA is invitation only in my state and they have a great pre approval system once your a customer I decided to wait and see if a better offer comes up after 1 year; i checked through my online banking and currently have none. I haven't noticed anyone else getting a limit this small with BBVA so i'm guessing it's because my BK7 is not even 2 years discharged yet. But they are BK friendly at least and if I can pre qualify hopefully others who are trying to do good and rebuild can as well. Hope this helps.

Message 6 of 6
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