BBVA Prequalify Fail

[MoneyBurns]

How reliable are these qualifications? Credit score that they checked was 790 and 789. They ended saying they're not able to prequalify at this time. Does that mean if I try it'll automatically be rejected? I know that sometimes the prequalify don't work but wanted to check if anyone got a "unable to prequalify" and still got approved or is it pretty accurate ?

Thanks in advance!

[FinStar]

Their pre-qualification is fairly reliable.  So, for BBVA, the prequalified portal can provide a good 'barometer' of potential odds without burning an unnecessary HP if you're testing the waters.  I went through their pre-qualification which landed 2 cards back-to-back about 2 months ago.

Alternatively, you can cold-apply and burn a HP if you feel the pre-qualification is not working for you.

[NoMoreE46]

Not directly related but I will share my BBVA experience.

When I had checked the prequalify in Nov, it offered me the Rewards card at $4500. (F8 about 760.)

I had the ClearPoints and was  uninterested in a new BBVA card.  I wanted a CLI on my CP. 

I asked MF community if the $4500 PQ for the Rewards would be a good harbinger for a CLI on with my ClearPoints instead.  

I didn't get a definitive.  

I waited another three months to call and faired better than the $4500 PQ amount.   I was granted another $6200 (from $5800 to $12000). 

[MoneyBurns]

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@NoMoreE46 wrote:

Not directly related but I will share my BBVA experience.

When I had checked the prequalify in Nov, it offered me the Rewards card at $4500. (F8 about 760.)

I had the ClearPoints and was  uninterested in a new BBVA card.  I wanted a CLI on my CP. 

I asked MF community if the $4500 PQ for the Rewards would be a good harbinger for a CLI on with my ClearPoints instead.  

I didn't get a definitive.  

I waited another three months to call and faired better than the $4500 PQ amount.   I was granted another $6200 (from $5800 to $12000). 

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Interesting. Thanks for sharing. Does having a banking relationship with them help approval odds?

[FinStar]

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@MoneyBurns wrote:

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@NoMoreE46 wrote:

Not directly related but I will share my BBVA experience.

When I had checked the prequalify in Nov, it offered me the Rewards card at $4500. (F8 about 760.)

I had the ClearPoints and was  uninterested in a new BBVA card.  I wanted a CLI on my CP. 

I asked MF community if the $4500 PQ for the Rewards would be a good harbinger for a CLI on with my ClearPoints instead.  

I didn't get a definitive.  

I waited another three months to call and faired better than the $4500 PQ amount.   I was granted another $6200 (from $5800 to $12000). 

---

Interesting. Thanks for sharing. Does having a banking relationship with them help approval odds?

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Not necessarily.  We've seen DPs of individuals residing in their footprint with checking/savings and nada.  Then, others opening up a checking account and offers popping up on the spot.  Similarly for customers not in their footprint/lending area.

Also, what were the reasons they cited at the bottom of the screen (below the scores they provided you) when declined for the pre-qualification?

[MoneyBurns]

It was "TOO MANY RECENT INQUIRIES."

I an 8/24. My last open account was SoFi in December.

[FinStar]

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@MoneyBurns wrote:

It was "TOO MANY RECENT INQUIRIES."

I an 8/24. My last open account was SoFi in December.

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Naturally, the prequalified results are a tell tale sign you'd be declined under a standard application or normal circumstances.  Then, you'd have more salt 🧂😉  

So, in a way, they're doing you a favor by allowing you to check periodically and see where you stand.  When it's time, you'll know.  You'll just have to exercise a bit of patience.  

[cashorcharge]

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@FinStar wrote:

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@MoneyBurns wrote:

It was "TOO MANY RECENT INQUIRIES."

I an 8/24. My last open account was SoFi in December.

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Naturally, the prequalified results are a tell tale sign you'd be declined under a standard application or normal circumstances.  Then, you'd have more salt 🧂😉  

So, in a way, they're doing you a favor by allowing you to check periodically and see where you stand.  When it's time, you'll know.  You'll just have to exercise a bit of patience.  

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Similar experience in using their prequal.  Tried it for the heck of it...it came back giving me my EX score of 840 but still declined me due to recent new accounts.  I had seen a lot of people getting it so I tried it out...this was last year, haven't tried since but did appreciate the "on the spot" PDF letter they provided as to why. 

[Mr_Mojo_Risin]

I checked for a pre-qualified offer the other day just for the heck of it and I was denied also. 

Said too many new accounts, I've had 4 in the last 12 months. But nothing in the last 6 months.

[Jnbmom]

The site doesn't work for me , I put in income agree to terms then  a screen pops up do you want to leave this page or stay 🥺weird