Pre-Qualification Interest Rate

Anonymous · ‎05-15-2018

Hey Guys,

I am sure this has been answered a million times, but I couldn't find the answer on my own. Does a prequalification online showing a specific rate indicate a higher likelihood of approval? In this case one of the Amex credit cards has a rate range (14-25%) and my rate was in the middle. Obviously, they don't see behind the curtain until the hard pull is done so I doubt it, but figured I would ask.

Thanks,

NB

fltireguy · ‎05-15-2018

YES! absolutely if there is a single rate showing (I.e.17.4%), and not a range

NFCU $60.4k/PenFed $22.5k/Commerce $15K/53 $11K/Synovus $14K/BBT $11K/CapOne $12K/DCU $7.5K/BMO $7.5K/Chase $14.5k/Cabelas $10K/ and many many more!
Total CL $398600, plus car and RV loan.
Ooh. Ooh. Getting closer to that $500K mark!

Anonymous · ‎05-16-2018

Thanks so much, good to know!