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So I see people here all the time I got the 'you're preapproved' or you're good to go offers and so they go for it and end up with great SL etc my question is is that just run of the mill you're preapproved just so you will try and we will see where you stand or are they you are now eligible/preapproved for this card go ahead and see what your limit is?! And if they are different how do you know the difference are they worded differently?! I keep getting Capital One mail to my house (don't worry I'm not touching my garden haha) but I dont' believe I have any connection with them other than my old car loan was through them so it may be legit but it may be shoot your shot and see if yay or nay?! Please help.
If this goes in the Credit Card general part please move I wasn't sure where to put it since I have a 'pre-approval' and my questions are on those?!
@Girlzilla88 wrote:So I see people here all the time I got the 'you're preapproved' or you're good to go offers and so they go for it and end up with great SL etc my question is is that just run of the mill you're preapproved just so you will try and we will see where you stand or are they you are now eligible/preapproved for this card go ahead and see what your limit is?! And if they are different how do you know the difference are they worded differently?! I keep getting Capital One mail to my house (don't worry I'm not touching my garden haha) but I dont' believe I have any connection with them other than my old car loan was through them so it may be legit but it may be shoot your shot and see if yay or nay?! Please help.
@FinStar.probably has the best explanation on mail pre-qualify/pre approval.
Ok I think that helps thank you.
It's all marketing based off lists they buy for prospective new customers based on creiteria and the source isn't always a CRA that has the Pre-Screened offers opt-out language on them because the source wasn't from a CRA.
It's all marketing but, some indicators would be a specific 1x.x% APR or a 3-4% APR spread vs 13.xx%-30.xx% you would normally see.
Other than that it's a roll of the dice normally even with the "firm" offer. Research is key to narrowing the odds by comparing approved profiles with your own if you can narrow them down to the same state it's even better.
Since you're specifically referencing Cap1, I'd say one easy way to determine if it's truly prescreened, approval leaning "offers" is to use their online pre-qualify tool. It's regarded as pretty reliable indicator of whether or not you'd be approved. I've never had a reject from them when that tool said I was preapproved.
I think typically you see more offers Pop Up when you use them or you seek credit recently it is kind of like a Beacon that goes off and alerts them all to SWAMP you hahaha. Or at least that's what happened in my case. The only difference being the Cap 1 I've never tried to get a CC with them only had the Car with them but when I refinanced it I no longer had Cap 1 and I think now they are like....WAIT COME BACK! LOL
@Jkrause702 so you can do this even without having any sort of Credit account with them already?! Or would I need to open a login and everything with them to see later?!