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Prequalified offer, but...

headsup7up
Valued Member

Prequalified offer, but...

I just received a prequal offer in the mail for the Cap One GM Buy power card. I'm pretty stoked about that because its the first card offer I have gotten since working on rebuilding that wasn't subprime.

 

My concern is that yesterday I had a 19 point drop in Exp score (just Exp). I have until February to accept the offer, but of course my fingers are itchy to app for this card.

 

Advice? Should I wait? Should I pull the trigger and hope my other 2 scores are high enough?


Such decisions! Smiley Surprised

Message 1 of 6
5 REPLIES 5
AverageJoesCredit
Legendary Contributor

Re: Prequalified offer, but...

Are you planning on buying a GM in the future? While its nice to get offers, especially while rebuilding, dont just jump on a card because its being offered. Thats how we get stuck with a card we either dont need or one we regret. Ive read some post here that shows this card doesnt grow well for many though i do recall one poster getting it over 10k. Luck on your decisionSmiley Happy
Message 2 of 6
headsup7up
Valued Member

Re: Prequalified offer, but...

We are actually planning on buying either a Yukon or Suburban this spring, but I doubt I can rack up enough points that quickly. Eventually I would like a Silverado, but that will definitely need to wait a couple of years after the SUV purchase.

 

Not even going to lie, I am probably more excited at the prequal for a card that doesn't come with a $75 initial fee and $300 CL Smiley Very Happy

Message 3 of 6
Anonymous
Not applicable

Re: Prequalified offer, but...

I believe you just answered you own question. .lol..good luck 😉
Message 4 of 6
AverageJoesCredit
Legendary Contributor

Re: Prequalified offer, but...

I understand that feeling headsup. When i got my very first mailer, for Discover , i was elated . However that just kicked off my 4 or 5 hard pull adventure of denials til i finally gave in. If i could redo that little adventure i would definitely have showed more restraint over my euphoric emotions of having a mailer. Good to see that you are asking questions first, patience is hard to practice sometimes but when done right can lead to great thingsSmiley Happy
Message 5 of 6
Anonymous
Not applicable

Re: Prequalified offer, but...

Typically, the GM card is a single pull rather than Cap One's famous triple pull. They did a single EQ pull for mine. Your EX score may not even matter, but I'd check the credit pulls database for your area.

 

Good luck!

Message 6 of 6
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