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What exactly ARE the prescreening qualifications for a credit card?

SunnyD

Belgian Waffler
You know, the ones you get in the mail all the time...

You've been pre-approved for a Diamond-Studded Platinum-Plated Titanium-Cobalt Alloy Card at 5.929384742560982345670429886809346% interests...

It boggles my mind... what is this "pre-approval/pre-qualification" process they use? It's it a requirement that the candidate must have a reposession, judgement, bankruptcy, many many collections, etc., on their credit record in order to get innundated with these letters?

I especially like the fine print though...

This offer in no way garauntees approval of a line of credit with this institution...
Approval will be contingent upon review of credit information history...

Wait... so what you're telling me is that I'm pre-approved but there's a distinct chance that I still won't get APPROVED the card... even though I'm PRE-APPROVED?

Sometimes I just read the T's & C's of one of these things before I throw it out just so I can get a good laugh. They're almost as fun to read as EULA's.

-D
 
Are you a mammal?
Does your name appear in some computer, somewhere?

Congratulations! You are pre-approved!
 
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