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Preapprovals

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Preapprovals

Since my newest accounts are finally 6 months old and others made 2 years, overall usage out of $9,100 is 50% and inquiry’s are dropping off my reports and my 1 year self lender installment account will be finished before June 20th! I am now getting preapprovals in the mail for personal loans as well as credit cards..

Ikea Projekt pre approval showed:

SL: $5,500 even though I stated I was making a $3000 purchase for a new closet set up.
APR: 0% for 6,12 or 18 months and 21.99% there after.
No pre payment fees and no minimum spend.

Has anyone else received the CL that Ikea Projekt showed? And is this a store card or Visa/Mastercard? I really dont want store cards but I could use that limit to make a large purchase while also padding UTL.

I was also preapproved for the wayfair card.... it only took 3 years lol.. no stats on that so I will steer clear.

Pre approved for subprime cards for a few months now but I am looking for prime cards come June.. the big drop from 7/24 to 3/24!! Woohoo 🎊💪🏼🙏🏼


Should I dive in for Ikea Projekt or wait for the end of June where my UTL will drop to 30% and AAoA will be over 2 years *finally* while also having a score boost to 700 scores *finally*. I am soo itching but I’ve waited 10 months so maybe I can wait another 3 weeks?

Also last question..

My Discover card makes 1 year June 1st.. when I was approved for my then secured card I had a collection account.. its still on my file and now when I check Discover prequal they say “cant prequal for any offers due to collections account”
In which there is only one.. the same from before my first Discover card 😕 Do I PFD the collection and hope for the 2nd card prequal or move on to other lenders lol

Also I would love to open a balance transfer card but I need to wait for better scores 😩
Sept 18: EQ: 578 TU: 583 EX: 576
March 19’: EQ: 615 TU: 642 EX: 637
June: EQ8: 637 TU8: 645 EX8: 642
September 19’: EQ8: 620 TU8: 645 EX8: 640
Goal by Sept 20’ EQ: 700 TU: 700 EX:700

AA: 7YRS 4MONTHS AAOA: 2YR 4MONTHS
Inquiries in 12 months: EQ: 3 TU: 1 EX: 1
New Accounts in the last 9 months: 0
CLOSED: Self Lender 12Month CD: June 20th 19’

Short Term Goal: Auto Lease 2020 Jeep MOAB
Chase 6/24 In-Branch Pre-approvals for all chase credit products - Goal Achieved but not taking the bait.. YET!
3 REPLIES 3
Established Contributor

Re: Preapprovals

The Projekt Card is a store card. Their Visa card is branded as the Ikea Family Visa card. 

Message 2 of 4
Moderator

Re: Preapprovals

OP, just to add to the above, the SL displayed online is the potential "up to" range that one could get approved.

There's been several reported cases where that fell short of expectations, but other individuals with stronger profiles have been approved for the SL as indicated, so your outcome may vary.
Message 3 of 4
Contributor

Re: Preapprovals

I just looked up the specs on the IKEA cards, and neither options seem great (unless you need a bigger line for Utilization on the Projekt card) or are planning on using the Projekt card for actual building.
See, it seems IKEA/Comenity only offer the two options, a Projeckt card to use only for their Taskrabbiting and building of IKEA installs OR their Visa that ONLY pays you back in IKEA Credits which have to be used within a 30 to 45 day time frame or they become invalid! Like, no cashback to even add to your account as a payment, like Amazon or Walmart, etc.
BTW, Amazon has a new Prime Starter card (I've been 'shopping' for possible cards today, tee hee 😋), which is secured, a $100 bucks down, the SL to be determined as you apply, AND you still get the 5% back and all normal Prime/Synchrony benefits, including your FICO score. It can be PC into a normal card depending on how you use it, which seemed pretty cool.
I had a pre-approved offer from Ebates, but they only pay you your own card's cash back every 3 mos when your Ebates app actually pays you.
So, ... those are some of the retail cards I looked up today, lol! And I so wanted IKEA, but after the Doc Of Credit and Wallet Hub shot it down, I thought, eh. Maybe something better.
I am liking the Amazon, tho. And the PayPal has promise. Wayfair works well, but you need to buy often enough for Comenity to justify larger CLI.
Macy's looked okay. And I just got a Nordstrom card which many say give a CLI every 3 or 4 mos!
Try googling the best cards to grow with sub-prime credit from Nerdwallet or a credit comparison site, or looking for other threads on these boards.
*it's late, I'm rambling. Sorry!* 😛😜😝🤐
Goodluck! 🌠
Starting Score: 630
Current Score: 768/798/803
Goal Score: 820+


Take the myFICO Fitness Challenge

Began in Jan 2017.
As of March 2018, just bought a new solar home!

Planning for: Chase Saphire Preferred
Am Ex Blue Everyday
Marriott Bonvoy or Visa Sig and Hyatt Visa Card (DONE! SPG Business, baby!!!)
A Viaso card (all for Japanese travel)
And to open a High Yield Savings and CD investment, and maybe look into ETFs. (DONE! ALL!)


Citi Rewards+ - $14000, Citi DC - $11000, Nordstrom VS - $5000, Discover IT - $14700, CareCredit - $15000, Cap One Venture - $6000, Amazon - $3800, Wayfair - $4900, Simply Be - $1200, Lane Bryant Platinum - $1900, Cap One Quicksilver (co-sign/au) - $1250, Victoria Secret - $750, Paypal MC - $900 ☹
($79750 in credit. So Far ...) Updated 6/5/2019
Message 4 of 4
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