My last approved credit application was in August 2014 (I think I've had two denials since then which where on TU). I received a KeyBank preapproval offer in the mail for the Ket2More Mastercard in the mail today. Preapproval, I thought well what the heck. I checked my EQ to see when they did a SP. It was 3/13/15 so I checked my report today to see if there was any difference. It wasn't so I applied. Was told that it takes up to 48 hours for decision. CSR gave me the number to call to check status. He said it's very rare that someone is denied with a preapproval. This is the first preapproval that I've gotten from a bank that is not subprime. Any how, the preapproval guarantees a credit limit equal to or more than $2,000 as long as nothing has changed since the offer was made. I've read that Key Bank requires all kinds of documents. I wish I had read that before I applied so that I could had filed this preapproval. I may have wasted a HP because I'm not sending in any documents unless they can tell me that they can do better than 20k. I'm sure they can't tell me that. If they want to approve for 2k, I'll have to decline and live with the wasted HP.
(Formerly known as: Credit is my hobby (1.7M)/TCL objective)
@FinStar wrote:Knowing it was for KeyBank, I would have at least looked at it, but then shredded it afterwards. Chalk it up as a lesson learned, don't apply for anything that the wind leaves on your doorstep, even if it's pre-approved. I suppose I'm confused, you have some other great ones in your collection such as BMO Diners Club and whatnot, why KeyBank? Some folks like KeyBank, I am just unimpressed by them.
After having bad credit to no credit, I'm just getting as much as I can (as long as it's not subprime). This is my hobby (yes I need to get a life, but until then, this is it 
) This was a good lesson. It was my first preapproval from a real lender. I got slap happy.
@12njoy wrote:
@FinStar wrote:Knowing it was for KeyBank, I would have at least looked at it, but then shredded it afterwards. Chalk it up as a lesson learned, don't apply for anything that the wind leaves on your doorstep, even if it's pre-approved. I suppose I'm confused, you have some other great ones in your collection such as BMO Diners Club and whatnot, why KeyBank? Some folks like KeyBank, I am just unimpressed by them.
After having bad credit to no credit, I'm just getting as much as I can (as long as it's not subprime). This is my hobby (yes I need to get a life, but until then, this is it
Ok, that makes sense. I'm sure over time more of them will eventually flood your mailbox, just be more selective 
@FinStar wrote:
@12njoy wrote:
@FinStar wrote:Knowing it was for KeyBank, I would have at least looked at it, but then shredded it afterwards. Chalk it up as a lesson learned, don't apply for anything that the wind leaves on your doorstep, even if it's pre-approved. I suppose I'm confused, you have some other great ones in your collection such as BMO Diners Club and whatnot, why KeyBank? Some folks like KeyBank, I am just unimpressed by them.
After having bad credit to no credit, I'm just getting as much as I can (as long as it's not subprime). This is my hobby (yes I need to get a life, but until then, this is it
Ok, that makes sense. I'm sure over time more of them will eventually flood your mailbox, just be more selective
Thanks for the helpful advice
@B335,
Yes I read your post after I applied and that's when reality sank in and the buyer's remorse began. Hopefully since it was preapproval they don't ask. I highly doubt I'm going to do all that since I'm nit hurting for credit. They did two SP's. One on 2/24/15 and one on 3/13/15. Interesting enough, my profile looked better on 2/24/15 than it did on 3/13/15 but the offer came out on the 3/13/15 SP the csr said. He said it takes 48 hours for decision so I'll see what happens. They're no Amex so we won't be going through that.
Yes I read your post after I applied and that's when reality sank in and the buyer's remorse began. Hopefully since it was preapproval they don't ask. I highly doubt I'm going to do all that since I'm nit hurting for credit. They did two SP's. One on 2/24/15 and one on 3/13/15. Interesting enough, my profile looked better on 2/24/15 than it did on 3/13/15 but the offer came out on the 3/13/15 SP the csr said. He said it takes 48 hours for decision so I'll see what happens. They're no Amex so we won't be going through that.
Hmmmm, just logged into my key bank mobile app to find a credit card account. They approved me without any documents but only for $3,500. I'll be calling them when they open. They'll have to do better than that for me to keep card. I'm thinking at least $8,000 for me to keep given my other cards. The reality is, I'll keep it regardless but I'm going to spot for that $8,000. Definitely will stay under that 10k mark due to FR. will post back once i see what happens.
