Question about Credit Cards

United States
July 22, 2011 7:47am CST
I kept getting offers in the mail that says I am preapproved for a credit card. I normally throw these into the trash, but I am now wanting a new credit card, so I decided to fill out the form and send one in. That was three weeks ago. My application status on the website says that it is being reviewed. If I was preapproved, what takes so long? It just irritates me.
1 response
@catcai (1057)
• Philippines
23 Jul 11
Hi Sbryan , apologies, I understand what waiting feels like , especially if your waiting for something that you badly need. Well it’s taking so long because although the bank says that its pre approved- that is always not the case- well sometimes it is. In some cases they just use the term pre approved as a marketing strategy- entice customers. But in legit cases wherein you are really pre approved, they would still need to do some credit checks, background checks, the works…they can only do this after you’ve submitted some of the required details to them and sign the application form as a waiver for them to do these credit checks. Also another factor is…. Of the millions of daily marketing mails they send, they only have a team of 20-100 people max handling the applications, that’s why it takes so long =)