No credit card required
Browse credit cards from a variety of issuers to see if there's a better card for you.
Well, last month, Wells Fargo sent me this:
And I checked the mail today and got this:
It says "Pre-Selected" instead of "Invited to Apply". Is there any weight to this offer at all since they gave it a set APR?
I can't provide details on whether the 2nd offer with a fixed APR is a sure thing but I can add two things...
First...I have found a lot more "offers" these days are saying Pre-Selected versus Pre-Approved. Could be coincidence. I've helped out 4 different friends with pre-selected offers from 3 different banks and each one led to an approval.
Second...I have this card and my APR is A LOT lower. I've had it a long time so there's likely an opportunity that it could go lower
Good Luck if you move forward..
@macinjosh Preselected means they have probably done an SP on your reports and given you a firm APR. I wouldn't app for that unless you ABSOLUTELY need it.
They look like two different card offers, if that is the case I would apply for the one that best suits your needs. One is a 0% APR on balance transfers only with a possible lower overall interest rate, and the other is for 0% APR on purchases and balance transfers with a set interest rate. The one that offers both may be more pleasing, because we don't want to pay any interest anyway. So, the higher APR shouldn't matter if you don't plan on carrying a balance.
@Anonymous wrote:They look like two different card offers, if that is the case I would apply for the one that best suits your needs. One is a 0% APR on balance transfers only, and the other is for 0% APR on purchases.
The first one with the APR range expired on December 7th. With 120 days to complete the BT, it would be perfect for me come April when I need to BT my BECU balance off that card before it's 0% promo ends, but I'm still conflicted.
@Loquat wrote:
Treat invitations of such as marketing. Even with a set APR it doesn't mean it'll be an all out approval. There are times when a set APR means that there's a good chance of an approval but nonetheless Wells Fargo is still going to pull a bureau report and make a decision.
Keep in mind that when such marketing/offers are extended it is usually from a previous snapshot of your credit and who know when it was conducted. If anything in your report has changed that doesn't align with what they are looking for then such offer/invitation will be rescinded regardless of the pre-screened offer.
@Loquat, I figure that, but my report, which I'm sure they SP EX, which is so full of more than enough INQ's; it's shocking to me they are even sending invitations to apply. 🤣
Sorry for the previous edits, as I didn't get all of the information on the photos, but after seeing them, it seems like the last photo is the best offer and is still valid, so therefore it should be able to lend you that hand in April
@Harvey26 wrote:@macinjosh Preselected means they have probably done an SP on your reports and given you a firm APR. I wouldn't app for that unless you ABSOLUTELY need it.
Only thing I really need it for is the BT offer. 18 months sure is a good BT offer come April.
I should add that I did apply for the offer from November with the APR range, and got rejected. Never got the letter. 🤦🏻♂️