Credit Tips: Credit Card Preapproval Offers

Posted On: July 1, 2005

Author: Anita 123
Title: Credit Card Preapproval Offers
Posted: Wed Dec 01, 2004 9:52 pm

Hi there
You work for MBNA? Wow what an immense honour!!!!
My story in a nutshell. I received a letter in the mail from MBNA advising me that I had presapproved to receive their credit card. Hooray!!
I completed the form that came with this “preapproval”.
I duly received a reply from them advising me that my request had been refused as I did not earn enough money.
I happen to be a specialist doctor earning a 6 figure amount annually and I did not earn enough money?
I wrote to the sender of this letter from MBNA and in true form, did not even receive a letter of acknowledgement to my letter.
Besides being a totally incompetent Company, or so it appears, the MD has to learn manners and management skills.
If the MD behaves in a manner unbefitting his status, how can one expect his staff to behave any better.—-I always thought a good leader , leads by example.
Obviously this MD has a lot to learn.

Author: Verne
Title: Credit Card Preapproval Offers
Posted: Wed Dec 01, 2004 10:56 pm

Anita,

A good income trumps the credit score and covers a multitude of derogatories on the credit report. I think MBNA simply blew it.

Many report a similar experience to your’s when dealing with MBNA’s customer service. I’m steering clear of them based on reports from people like you and Polonius.

Don’t they get it? When consumers compare notes at online sites such as this, hundreds and thousands, and tens of thousands, catch on.

Verne

Author: Ira
Title: Credit Card Preapproval Offers
Posted: Wed Dec 01, 2004 11:11 pm

Anita, all preapproval means is MBNA asked one or more of the CRAs for several thousand or mabe several hundred thousand names of people who seem to fit their minimum profile for obtaining credit. You still have to apply for the card if you want it and then they’ll check your credit worthiness for real. Many of us get these offers in the mail three times a week. Preapproval does NOT mean approval.

It would be much better if the banks (and yes, they all do it) simply came out and said you seem like a nice person, if you’d like one of our credit cards just fill out this application and we’ll check you out.

You are not the first, and unfortunately won’t be the last, to get tied up in the semantics of approval vs. the meaningless term, “pre-approval.”

Author: Nightstar
Title: Credit Card Preapproval Offers
Posted: Thu Dec 02, 2004 12:15 am

Ira is right, pre-approval is nothing more then saying that they bought your name and address from a credit reporting agency to send you a pre-screened credit card offer.

No creditor is going to approve an application without first pulling a credit report, and matching it with their check list of what is acceptable for a customer.

Sometimes they have more complex underwriting then just going by the score, some might not grant to people who have filed bankruptcy, and others will cut you off if they say you make too little income… (I have had that happen to me before with Pulaski Bank) it is their choice though who they accept or don’t accept,

It is sad though, that they never responded to your letter, showing them proof of income you should of been able to get the card, you might re-direct you letter again through www.planetfeedback.com - just use the site to look up the creditors address, and a contact person.

I know many creditors reply quicker when people use sites like that one