What does "pre selected" mean?

wideboy09

I got a letter though the post saying I was preselected to apply for a vanquis card - does this mean that I'd definately be accepted if I return the paperwork?

dj1471

It means they've selected you to receive advertising, nothing more.

takman

It usually means you have been rejected by another credit card company and they are hoping you are desperate enough to have any card and will sign up with them!.

unforeseen

It means you are a name they haven't seen before on the latest name list they have bought.

HappyMJ

wideboy09 wrote: »

I got a letter though the post saying I was preselected to apply for a vanquis card - does this mean that I'd definately be accepted if I return the paperwork?

It's a Vanquis card. You have a 95% chance of being accepted as long as you're not currently going through formal insolvency procedures and can be identified you've almost got the card even if you have absolutey no income of your own.

The question regarding income is....

How much is your household income?*:
(Before tax and including benefits for ALL members of your household)

Marcio45

If you are really desperate for a credit card and your credit history is very bad maybee your last chance of getting one is vanquis. But the interest rates are some of the worst you can get.
Aqua or Capital One is a better choice for bad credit. Expensive, but not as much as vanquis.
The pre-selected, as others say, its just a marketing tool. They can still deny you a card.

pvt

Yes I also got one of those from Vanquish a few days ago as well.

It's comforting to know that if I top out the £53k credit line I have available on my [STRIKE]real[/STRIKE] other credit cards, I can always rely on them to extend me another £500 at just shy of 40% per annum...

pogofish

wideboy09 wrote: »

I got a letter though the post saying I was preselected to apply for a vanquis card - does this mean that I'd definately be accepted if I return the paperwork?

IME it is no more than a marketing gimmick.

They still ask you to fill-out the form and will make their actual decision on that and whatever other info they use to assess you.

Unless of course they actually send you a card you can use as soon as they process the credit agreement they thoughtfully include but I've not heard of that happening for a very long time now and mostly it was only ever the children/partners of very rich people that got that kind of consideration.

I did in the past return a "preselected" card offer, only to have it rejected on the actual application.