Pre Approved/Qualified

mbmonty

Can someone tell me what pre-approved or Pre-Qualified means?

Is it as I suspect a marketing gimmick and you are not approved at all, i.e. you are before being approved?

I keep getting mail for tenant that left over 2 years ago who has registered for accounts at my address a year AFTER they left, I reported that fraud, so how come they are pre-approved if there is surely a black mark in credit ref DB's for this address (I have no credit here).

[Deleted User]

It varies.

Typically, it means you will probably get a card, after a few more checks, but with a very low limit if you turn out to be a no good reprobate. But you may still get declined.

There is no black mark on your address, surely or otherwise.

mbmonty

So if I report that someone has ontained credit at my address a year after they left they do not give the applicant a black mark in their name at my address?

[Deleted User]

Just return 'not at this address'.

You will not be affected.

shortcrust

mbmonty wrote: »

So if I report that someone has ontained credit at my address a year after they left they do not give the applicant a black mark in their name at my address?

My guess is if the account was being managed ok they’d simply update the address when and if they managed to contact them.

PixelPound

Pre approved does not mean they already have credit with them. I get Vanquis etc sending me bumf saying I'm pre approved. Sometimes people don't update all the addresses when they move out!

forgotmyname

I had my bank send me a pre-approved card application, just sign and return and the card arrived shortly after.

But they obviously knew what entered and left my accounts each month, so knew the risks better than most.