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Ikea Projekt Pre-qualified for $5500, but got the "we're reviewing your app" when applied?

rockthegoddess2005
New Visitor

Ikea Projekt Pre-qualified for $5500, but got the "we're reviewing your app" when applied?

Hey everyone! 

 

I'm brand new here- working hard to rebuild my credit from a nasty divorce and overall irresponsibility in my early adulthood. (At least I admit it...)

 

My work seems to be paying off- a year ago I was in the high 400s to low 500s- I got a couple secured cards, and am now at 630-680 with very low usage (10-15%). Still have some chargeoffs that I have no idea what to do with. 

 

Anyway... 

 

I did the pre-qual for the Ikea Projekt card. I got the "congratulations!" message and was pre-qualified for up to $5500. I nearly died. 

 

Then, I applied- and got the slap-back-to-reality "we're reviewing, 7-10 days" response. 

 

I know it's a Comenity card- and they recently took my CLs down on 3 of my 4 cards from $350 or so each to $100. (Great history with them, and very active- but one of my CLs on another card went over limit, forgot to pay it before it reported, so I think that may have done it. I'm still learning!) 

 

Any insight as to maybe what to expect? Anyone else here in the 600s ever pre-qual for Ikea and then get a "NOPE"?

 

Thanks for any input! 

Message 1 of 5
4 REPLIES 4
chalupaman
Community Leader
Super Contributor

Re: Ikea Projekt Pre-qualified for $5500, but got the "we're reviewing your app" when appl

It doesn't always necessarily mean a denial. I got prequalified for $6000 or so, and got the same message when I applied. Might be verification you might have to do over the phone when you get the letter in 7-10 days. Best of luck! 

Tradelines: Macy’s - $12k, Penfed Power Cash Rewards - $10k, Ethan Allen (TD Bank) - $5.7k, Kay Jewelers - $5.5k, Appliances Connection - $5.3k, Jared - $5.25k, Best Buy (Citi) - $5k, Dell Preferred Account - $3.5k, Samsung - $3.2k , Capital One Platinum - $3k, Firestone CFNA - $2.4k, Mercury MC - $2.25k, Williams Sonoma - $2.1k, Wayfair (Fortiva) - $2k, Amazon Store Card - $1.8k, Apple Card - $1.7k, NFCU cashRewards - $1.5k, CareCredit - $1.5k, B&H Photo - $1.5k, Amex Delta Gold (AU) - $1k, Sam’s Club MC - $1k, American Eagle - $1k, Ollo MC - $600, Mission Lane Visa - $500, NY & Company - $500, Home Depot - $500, Target RED Card - $500, CapOne Secured MC 0 AF - $500, Penfed Overdraft LOC - $500

Current FICOS: EX - 689, EQ - 671, TU - 676
Ch 7 BK D/C Aug 2019
Starting scores: EX - 534, EQ - 574, TU - 516
Total TLs: $80.9k
Total Utilization: 11%
Message 2 of 5
coldfusion
Community Leader
Super Contributor

Re: Ikea Projekt Pre-qualified for $5500, but got the "we're reviewing your app" when appl

Given your comment that Comenity recently CLD'd 3 of your 4 accounts I unfortunately would expect that if approved it would be at a low limit.   Your faux pas isn't as serious as for example a returned payment, but it is a violation of terms when an over-limit transaction is approved but isn't paid down to at least get the account balance back under the limit before the very next payment-due date.

 



(9/2021)
FICO 8 (EX) 804 (TU) 832 (EQ) 827
FICO 9 (EX) 827 (TU) 826 (EQ) 832

$1M+ club

Artist formerly known as the_old_curmudgeon who was formerly known as coldfusion
Message 3 of 5
aj2121
Frequent Contributor

Re: Ikea Projekt Pre-qualified for $5500, but got the "we're reviewing your app" when appl


@chalupaman wrote:

It doesn't always necessarily mean a denial. I got prequalified for $6000 or so, and got the same message when I applied. Might be verification you might have to do over the phone when you get the letter in 7-10 days. Best of luck! 


+1

I had the same thing happen to me and when I received the letter it said I needed to call and verify identity, called in and a few identity questions later they sent my card.

FICO8 as of 4/9/21:
Message 4 of 5
CreditCrusader
Valued Contributor

Re: Ikea Projekt Pre-qualified for $5500, but got the "we're reviewing your app" when appl

Where this IKEA card is concerned, I'd completely disregard their "pre-approval" limit.

 

DW fell for that trap. She said she wanted to spend $3,000 when the pre-qual asked for it. They "pre-approved" for $6,000...only to approve her for $750.

 

Now, their cards DO typically grow over time, but beware of the carrot dangling on their stick.

In my wallet: Cap1 QS $10,000 Apple $1,500 Interra CU $5,000 Sweetwater $15,000

Current scores (EQ, EX, TU): 756, 758, 770
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