How solid are the pre-approvals? In the past, I heard first tech was not the place to get credit if you had over $300k available like me (nearly $1 million). I keep getting emails and mailers from them.
Any new experiences?
Solid, especially if you have good income/assets. I recently cancelled my account(s). Multipliers didn't move the needle for me. Friendly, and easy to do business with.
I was looking at the possibility of phasing BCU out (my recent post about them). I have two CU's to pick from, First Tech and State Department FCU that i have not really enagged with, but have accounts there.
First Tech was slated for the chopping block. But i got the preapproval in ..
Currently my combined cards total about 9x my income, and I have roughly a full years salary of investments/cash.
But i heard they are picky in the post about those like me and other myfico soles that have surplus credit.
I finally bit the bullet, the Pre-appproval was solid for the choice rewards world mastercard.
applied at 5:15 pm est. Linked about 5 bank accounts in the app to prove income and some cash on hand assets.
experian pulled 5:20/25
approval email at 5:35 - $25k, asked for proof of addresss
Sent tulity bill at 5:45
Rep called at about 6:10 to inform me of the approval. Discussed max limit is $35k for this card type and $50k for Odyssey.
Pull is good for 30 days.
SDFCU on the other hand .. denied for escalating debt. aka, too much credit. considering i only have a $9k balance on a $48k auto loan, $10k card usuage, and $50k student loan.
Solid for me w/ a lot of available credit. Been a customer a couple times, but an year this time at least. Got a preapproval in the mail with a decent SUB so I bit. 20K approvals very quickly. Painless process getting approved and finishing the paperwork. At least 3-4 new cards this year
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@CreditCuriosity wrote:
@RootDet wrote:I finally bit the bullet, the Pre-appproval was solid for the choice rewards world mastercard.
applied at 5:15 pm est. Linked about 5 bank accounts in the app to prove income and some cash on hand assets.
experian pulled 5:20/25
approval email at 5:35 - $25k, asked for proof of addresss
Sent tulity bill at 5:45
Rep called at about 6:10 to inform me of the approval. Discussed max limit is $35k for this card type and $50k for Odyssey.
Pull is good for 30 days.
SDFCU on the other hand .. denied for escalating debt. aka, too much credit. considering i only have a $9k balance on a $48k auto loan, $10k card usuage, and $50k student loan.
Congrats. Maybe First tech is changing their lending as usually frown on a lot of available credit as see it as a liability even if only 1k of it being used. Or maybe different due to pre-approval?
Perhaps the result of that new merger with DCU... 