Just like most of y’all, I receive unsolicited credit card applications on a very regular basis. I know credit card companies love me because I tend to carry a fairly high balance and pay more than I know I should in interest. I have never in my life missed a payment.
For the last two years or so, I have taken advantage of the low-interest introductory rates until it is time to pass the debt on to another card.
So far so good. I figure, why not? if they are offering.
I am always “pre-approved” for these cards. Congratulations! and all that. Well, my last two “pre-approved” applications were not approved. Their stated reason boiled down to the fact that I pass a lot of debt around.
Since they have access to my credit reports, they knew my credit history before sending me an application.
I never solicit these applications; they seek me out. I only take advantage of what they offer.
Since when does the definition of “pre-approved” mean “not pre-approved”? Are these not mutually exclusive?
I don’t have a problem with being turned down per se. And I understand setting limits based on applicant factors. It is their business and they have every right to choose the customers they want, even if that doesn’t include me any longer. I just can’t figure out the whole ‘pre-approved = not a chance’ thing.