Rocket Mortgage Visa Signature Pre Approval

[sarchin]

I read that Rocket Mortgage has come out with a credit card that will pay cash back towards a down payment on a mortgage or other Rocket products, but I didn't get into all the details. 

• Get 5% cash back toward the purchase of your next home with Rocket Mortgage.2
• Clients who already have a loan through Rocket Mortgage can earn 2% cash back toward their mortgage balance.
• No annual fee if you're a Rocket Mortgage client, others are $95 a year.
• $200 bonus if spend is $3,000 in 3 months.
• I didn't see anything about balance transfersThe card is issued by Deserve.  I did a pre approval, and I was preapproved for $5,000 at a 27% interest rate, $200 bonus when spending $3,000 in 90 days.  They pulled my Experian and said my score was 743, same as MyFico has it.  I haven't accepted the card yet.

[M_Smart007]

I made it to this part, and said; Not worth checking the pre-approval.

"By providing my phone number and tapping "Continue", I expressly consent by electronic signature to receive telephonic sales, promotional, marketing and other calls and text messages. This includes any calls and messages sent by any automated system or other means for the selection or dialing of telephone numbers, or using an artificial or prerecorded voice message when a connection is completed from Rocket Card, LLC and our Family of Companies at the telephone number you have provided, even if that telephone number is on a corporate, state, or national do-not-call list or registry. My consent and agreement to receive such calls or text messages is not a condition of purchasing any property, goods or services from us or our Family of Companies."

Also the card has a $95 AF if you do NOT have a Rocket Mortgage.

[ShinsekaiYori]

Used to work at Rocket unfortunately. I remember talk of this back in 11/21. I can promise you with 100% certainty that this credit card is just a lead source generator for the Rocket loan originators to harass you 40,000 times a day with phone calls, texts, emails, you name it.

The above comment all but confirms it as well. This is all they would do when I worked there. Find any way to source people to call through partnerships. They had us cross referencing the phone book with USApeoplesearch and other sites to find you and harass you into refinancing.

Anyone looking into this card, do not. You'll regret it more than you realize.

[M_Smart007]

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@sarchin wrote:

I read that Rocket Mortgage has come out with a credit card that will pay cash back towards a down payment on a mortgage or other Rocket products, but I didn't get into all the details. 

• Get 5% cash back toward the purchase of your next home with Rocket Mortgage.2
• Clients who already have a loan through Rocket Mortgage can earn 2% cash back toward their mortgage balance.
• No annual fee if you're a Rocket Mortgage client, others are $95 a year.
• $200 bonus if spend is $3,000 in 3 months.
• I didn't see anything about balance transfersThe card is issued by Deserve.  I did a pre approval, and I was preapproved for $5,000 at a 27% interest rate, $200 bonus when spending $3,000 in 90 days.  They pulled my Experian and said my score was 743, same as MyFico has it.  I haven't accepted the card yet.

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@cashorcharge, Looks like you jumped the gun on

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@cashorcharge wrote:

WooHoo!! Congratulations on your Approval!!👏🏼🍾🥂

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Looks like OP just ran the prequal only. (see ^RED above)

Maybe The Credit Mentor's or MOD's can move this to "Credit Card Applications" ..

[cashorcharge]

Thanks...Noted!

[Lou-natic]

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@ShinsekaiYori wrote:

Used to work at Rocket unfortunately. I remember talk of this back in 11/21. I can promise you with 100% certainty that this credit card is just a lead source generator for the Rocket loan originators to harass you 40,000 times a day with phone calls, texts, emails, you name it.

The above comment all but confirms it as well. This is all they would do when I worked there. Find any way to source people to call through partnerships. They had us cross referencing the phone book with USApeoplesearch and other sites to find you and harass you into refinancing.

Anyone looking into this card, do not. You'll regret it more than you realize.

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Mortgages and the current home buying process are already stressful enough and very much "not fun" and yet some of these companies go out of their way to make it even more painful...nah fam. I can't imagine willingly going through the process again for a home I already have. Just the thought makes my skin crawl. Also I feel like being forced into paying "closing cost" on a house you already live in should be a criminal offense.