Pre-Approval - Question regarding the pre-approval ID number

[Anonymous]

I would like to know how important it is to use the 'pre-approval code' when you want to apply for a credit card? For example, I am itching to do the Walmart application but I left my preapproval letter in my truck (I'm a trucker). Does it benefit me any to do the application entering the pre-approval code or are those like a gimmicky hoop they want you to jump though?

[Anonymous]

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@Anonymous wrote:

I would like to know how important it is to use the 'pre-approval code' when you want to apply for a credit card? For example, I am itching to do the Walmart application but I left my preapproval letter in my truck (I'm a trucker). Does it benefit me any to do the application entering the pre-approval code or are those like a gimmicky hoop they want you to jump though?

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Welcome to MyFico. Pre-approvals are often marketing technique to get you to apply.  It is not a guarantee and not set in stone.  It will all come down to your entire credit profile.  Another clue when it comes to pre-approval is if it gives you a range of APRs instead of a set APR, then you are better of waiting.

If you really want the Walmart card and your credit profile supports it then go for it.

[Anonymous]

My prequalification letter from Walmart says 22.90% apr. ..

[OmarGB9]

Being that it's a store card that's probably the standard APR anyway. I don't think the pre approval code does anything special. At least not when it comes to store cards. For bank cards, however, it can mean the difference between better APRs/SLs.

[Anonymous]

Well, I applied for the Walmart store card using the prescreen offer number I received and when I submitted my application it told me "Congratulations, your application for the Walmart credit card has been approved". It didn't give me a CL?!? I wonder how long I am stuck waiting to find out what I got.,

[Anonymous]

Why not give them a call. And if you're not happy with the Cl ask them to recon and increase it. 

[Anonymous]

I did call them, they started me with a $600 limit. I'll give it some time too before I ask for a CLI because I asked them stupidly if they could offer me more credit so I can cover a big purchase I was planning to make and they told me it would result in another hard inquiry. So I thought fine I'll deal with what I have and thanked her and said have a nice day. Sorry for not updating.