Do pre-selected CC offers mean 100% approval?
 

Hi all,

I was wondering if a pre-selected CC offer in the mail means 100% approval? I am afraid to get denied approval.

Thanks!

NO. read the T @ C.

I don't think its 100% approval. I'm pretty sure they target people with credit scores between certain numbers. But they could potentially deny you for something like income (or any number of factors that didn't make the company feel warm and fuzzy about you). But there is probably a pretty decent chance you would be approved.

If you want to divulge more details (i.e., what card it is, what your past credit history is like, income, etc) I'm sure several people on this forum could give you an educated guess on your likelihood of approval.

A few years ago, banks had to do away with pre-approved offers for credit. Now, federal regs require banks to determine your ability to pay for any/all size credit lines.

A pre-selected offer (NOT an Invitation to Apply) is generally what is called a guaranteed offer of credit. The caveat is that the guarantee is usually a minimal credit line of $500. Once they determine your DTI and CB scores, they can finalize the limit and rate.

At BofA, a pre-selected offer will always disclose the promo/go-to interest rates prior to submitting income/rent info.

It's important to note, accepting a pre-sel offer still constitutes a formal application (and requires CB hard pull) and is ALWAYS subject to approval.

Good to know!!