I wouldn't put much weight into a lack of prequalification. Consider that a lot of applicants will have no history with the institution. Their algorithms aren't going to churn a prequalification for every individual that would get it if they were to apply. I constantly had no pre-approvals for Citi, but nabbed the AA Platinum then a couple months later the Premier and Sears MC on the same day.
So a lack of approval is less of an indicator of denial and more of an indicator of not *not* being an approval - it doesn't mean you'll be denied and it's likely neutral in meaning.
