Poll: Cold app v. Pre-approval - Which has given you more success?

[Anonymous]

I'm considering a mini app spree (2-3 cards at most) with my sights set on Citi, and possibly Macy's and JFCU.

My question is have you had a greater success rate (approval rate and higher CLs) when responding to a preapproval or when "cold" apping.  I ask because I am presently opted out so I don't get pre-approvals from lenders I don't presently have a relationship with.

Thanks for your input.

[haulingthescoreup]

I think that the only benefit that I got from pre-approvals was that it gave me the self-confidence to go for it. The BofA card was the only one that I got a mailing for. All the rest were cross my fingers and go.

[Anonymous]

I get very few pre-approvals that interest me. Of those that do, and I apply for, I've found I've been granted much higher opening cli's, than "cold" app'ing. That's true in every case except Best Buy. I cold app'ed and received a very nice opening cl.

[Anonymous]

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lurknomore wrote:

I'm considering a mini app spree (2-3 cards at most) with my sights set on Citi, and possibly Macy's and JFCU.

My question is have you had a greater success rate (approval rate and higher CLs) when responding to a preapproval or when "cold" apping.  I ask because I am presently opted out so I don't get pre-approvals from lenders I don't presently have a relationship with.

Thanks for your input.

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I'm usually offered much lower APRs on preapprovals than when "cold apping." 

Message Edited by psychic on 03-05-2008 01:53 AM