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I last got 2 credit cards 7 months ago, one from Citi and one from US Bank. I am now 6/24, I have a chase checking account and recently started new job, 6 figures. When I checked Chase website for pre-qualified credit offers, they have for me there 3 credit cards: Chase Freedome, CFU and Chase Sapphire. How solid is Chase pre-approval when someone is over 5/24?
If it's giving you a fixed interest rate and not a range it's a pretty solid offer.
@Anonymous wrote:If it's giving you a fixed interest rate and not a range it's a pretty solid offer.
+1
It's not a given you'll be approved but for being over 5/24 and if it's a solid APR that's pretty much as good as you're going to get while waiting to get back under said 5/24
Chase gave me a CF at 6/24 during an app spree that took me to 11/24 and then three months later gave me a CSP (at 10/24). So, pretty solid.
That said, I'm now firmly in the garden for a min of 6 months - and preferably a year or more (depending on needs).
@Anonymous wrote:If it's giving you a fixed interest rate and not a range it's a pretty solid offer.
16.74 APR
App went into review. Annoyed... Don't prequalify me unless you are going to instantly approve me. Just venting now...
@Remedios wrote:
Your offer is not preapproval, it's a prequal
Less reliable because prequals are based on minimum criteria set forth by lender.
Whenever you're over 5/24, some kind of review is to be expected. It's better than instant denial
Prequal, unlike green checkmark with limit showing, it's not a firm offer.
However, I got both of mine that way while well over 5/24
Let them do their job and allow process to play itself. You should be fine
With that said, while fairly reliable, even green checkmark is not impervious to denials
Thank you. Will keep that in mind next time.