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What does prequalified for Fort Knox Platinum mean?

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Frequent Contributor

What does prequalified for Fort Knox Platinum mean?

So I applied for Fort Knox 5% gas card. They pulled on me transunion and experian. Then I got email that I am prequalifed for their Platinum card with $2000 limit but I have to sign up for their credit union savings account and donate $15. They had me fill out a lot of paper work including SSN and Driver License for both me and my beneficiary. Now I don't want to just waste $15 only to find out that they change their mind. Did anybody else go through this process? When they tell me I am prequalified does it mean I am approved or they will just take my $15 and then tell me sorry you can't have the credit card.

 

My credit score is 799.

Income 195,000

AAoA 7.1 years

Recent inquiries 2 (one WF Cash Wise and one student loan consolidation with WF)

 

Message 1 of 13
12 REPLIES 12
Frequent Contributor

Re: What does prequalified for Fort Knox Platinum mean?

This is a credit card question. I am not sure why this was moved to personal finance section. Odd.

Message 2 of 13
Valued Contributor

Re: What does prequalified for Fort Knox Platinum mean?

Hey Green! Welcome to the myFICO community!
I guess the question is....
Would you really jump through those hoops and cough up $15 for a $2K gas card?
With your profile you can get a $20K SL Bankcard with a 5-4-3-2-1 rewards card! Just saying OP but in the end it’s your call.
BK7 dc in 01/2011 with FICO8 in the 500s

HPs EX 5 EQ 4 TU 1
AAoA 5y2m
UTIL 1% - 3%

$200K+ Total Limits







New cc TLs 1/6 ; 1/12 & 4/24
Message 3 of 13
Valued Contributor

Re: What does prequalified for Fort Knox Platinum mean?


@Green456 wrote:

This is a credit card question. I am not sure why this was moved to personal finance section. Odd.


Blessing in disguise OP! You don’t wanna read the comments you’ll get from that app! Just kidding Smiley Happy

Oh and just saw it was a double pull???!!!

OMG you must be getting a $2K SUB for that card!?

Really OP what benefit/s are we talking about in getting that card? 

BK7 dc in 01/2011 with FICO8 in the 500s

HPs EX 5 EQ 4 TU 1
AAoA 5y2m
UTIL 1% - 3%

$200K+ Total Limits







New cc TLs 1/6 ; 1/12 & 4/24
Message 4 of 13
Valued Contributor

Re: What does prequalified for Fort Knox Platinum mean?

Apologies in advanced for sounding like a condescending nincompoop OP. Not my intention to offend.

To answer your original question...

I think you’re a guaranteed approval with your approval. Plus they won’t ask you to provide all those stipulations if they don’t havr any intention of approving you. Unless there’s a drastic change in your profile very recently then I think your app is a “go” with them! Smiley Happy

BK7 dc in 01/2011 with FICO8 in the 500s

HPs EX 5 EQ 4 TU 1
AAoA 5y2m
UTIL 1% - 3%

$200K+ Total Limits







New cc TLs 1/6 ; 1/12 & 4/24
Message 5 of 13
Frequent Contributor

Re: What does prequalified for Fort Knox Platinum mean?

What is SL Bankcard with a 5-4-3-2-1?

 

Yeah I don't mind jumping through hoops, as long as I save in the end. We are using $300 in gas per month so that 5% will add up for us over time.

Message 6 of 13
Moderator

Re: What does prequalified for Fort Knox Platinum mean?


@Green456 wrote:

This is a credit card question. I am not sure why this was moved to personal finance section. Odd.


It was moved as it was indirectly a CC question, but to get a CC with a CU you must first have a CU membership(personal finance question) by whatever means and that indeed belongs in personal finance and more likely to get better answers in the section.  Hope that helps

Message 7 of 13
Frequent Contributor

Re: What does prequalified for Fort Knox Platinum mean?

Not sure if you've compared but FNBO Ducks Unlimited card had 5% cash back on gas and sporting goods and is the one generally recommended around here for a strictly gas cash back card.

 

Fort Knox is a CU and has a few more hoops to jump through and is not as modern or big as FNBO, which in itself is a pretty conservative lender and one that is good to get in with.  You might want to take a look at it instead.

Message 8 of 13
Senior Contributor

Re: What does prequalified for Fort Knox Platinum mean?

FNBO is very consevative. DW has one of their cards. It was her first prime card with a whole $5K limit.  (her lowest prime)   They   hp for cli. DW scores around 760

 

Message 9 of 13
Valued Contributor

Re: What does prequalified for Fort Knox Platinum mean?


@Green456 wrote:

What is SL Bankcard with a 5-4-3-2-1?

 

Yeah I don't mind jumping through hoops, as long as I save in the end. We are using $300 in gas per month so that 5% will add up for us over time.


I meant $20K SL (Starting Limit) with 5, 4-and so on % rewards. For instance, with the US Bank Cash+ Visa signature, you can pick 2 categories for the 5% (Gas & Fastfood) then 3 other categories for the 2% cash back.

You just have to set them up quarterly via online or they will revert back to be a 1% everything card. 

 

You see such a card just has soooo much more versatility and you can use every where else as opposed to a pure gas card that. 

BK7 dc in 01/2011 with FICO8 in the 500s

HPs EX 5 EQ 4 TU 1
AAoA 5y2m
UTIL 1% - 3%

$200K+ Total Limits







New cc TLs 1/6 ; 1/12 & 4/24
Message 10 of 13
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