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Chase & BOA Pre-Approved "Firm" Pre-Approved Offers

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ScarletFever
Frequent Contributor
‎03-28-2008 08:39 PM
‎03-28-2008 08:39 PM

Chase & BOA Pre-Approved "Firm" Pre-Approved Offers

Is the term "firm" another scam to get people to apply to pre-approved offers? Anyone have direct experience with this? It probably is; the fine print says the offer is firm if the applicant "continues to meet criteria"...
.Citi FICO-836 Barclays TU FICO; 827. Discover Fic0-826; CK:EQ-821; TU-819; CS-819; Total credit-$165,500: NASA-29,700; AMEX BCP-17,000; AMEX EDP-20,000; CSP-14,400; Barclay Ring-10,000; Discover It-9,000; U.S.Bank Sig Visa13,000; United TeleTech Federal Credit Union-$9000; Citi Double Cash-9900; Citi TYP-7,700; Discover Cashback Bonus-7,200;Chase Freedom-6,500; AMEX HHilton Honors-5000; Barclay NFL Extra Points-$5000. Utility always 1-2%
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Anonymous
Not applicable
‎03-28-2008 08:55 PM
‎03-28-2008 08:55 PM

Re: Chase & BOA Pre-Approved "Firm" Pre-Approved Offers

usually nothing is "firm" until the credit app is turned in...sounds like jargon to me.
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ScarletFever
Frequent Contributor
‎03-28-2008 08:57 PM
‎03-28-2008 08:57 PM

Re: Chase & BOA Pre-Approved "Firm" Pre-Approved Offers

That's what I thought...
.Citi FICO-836 Barclays TU FICO; 827. Discover Fic0-826; CK:EQ-821; TU-819; CS-819; Total credit-$165,500: NASA-29,700; AMEX BCP-17,000; AMEX EDP-20,000; CSP-14,400; Barclay Ring-10,000; Discover It-9,000; U.S.Bank Sig Visa13,000; United TeleTech Federal Credit Union-$9000; Citi Double Cash-9900; Citi TYP-7,700; Discover Cashback Bonus-7,200;Chase Freedom-6,500; AMEX HHilton Honors-5000; Barclay NFL Extra Points-$5000. Utility always 1-2%
Message 3 of 5
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Anonymous
Not applicable
‎03-28-2008 08:58 PM
‎03-28-2008 08:58 PM

Re: Chase & BOA Pre-Approved "Firm" Pre-Approved Offers

The term "firm offer of credit" has a very specific definition, and it's not what it sound like.
 
A "firm offer" is an offer that is made based on a pre-screening, but may be rescinded based on information obtained from a CR or from the application you will fill out later.
 
In other words, it's just another word for a simple preapproval.
 
Not quite as "firm" as the term would lead you to believe.
 
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ScarletFever
Frequent Contributor
‎03-28-2008 09:00 PM
‎03-28-2008 09:00 PM

Re: Chase & BOA Pre-Approved "Firm" Pre-Approved Offers

Thanks Cheddar, that's what I figured...
.Citi FICO-836 Barclays TU FICO; 827. Discover Fic0-826; CK:EQ-821; TU-819; CS-819; Total credit-$165,500: NASA-29,700; AMEX BCP-17,000; AMEX EDP-20,000; CSP-14,400; Barclay Ring-10,000; Discover It-9,000; U.S.Bank Sig Visa13,000; United TeleTech Federal Credit Union-$9000; Citi Double Cash-9900; Citi TYP-7,700; Discover Cashback Bonus-7,200;Chase Freedom-6,500; AMEX HHilton Honors-5000; Barclay NFL Extra Points-$5000. Utility always 1-2%
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