When does PRE-APPROVED actually mean it ?

Ben8282

Did the Virgin Money eligibility checker actually use the term 'pre-approved' as this term means absolutely nothing and sounds more like something from a third party eligibility checker or a marketing letter..
My own experience in using their eligibility checker on their site was different. I got the response 'If you apply today using the same details you are guaranteed to be accepted for a card from us' (or similar wording to the same effect). My details were then transferred by their system to the application form and the application was immediately approved with a credit limit stated.

NoviceAngel

Ben8282 wrote: »

Did the Virgin Money eligibility checker actually use the term 'pre-approved' as this term means absolutely nothing and sounds more like something from a third party eligibility checker or a marketing letter..
My own experience in using their eligibility checker on their site was different. I got the response 'If you apply today using the same details you are guaranteed to be accepted for a card from us' (or similar wording to the same effect). My details were then transferred by their system to the application form and the application was immediately approved with a credit limit stated.

That’s exactly what happed, only the outcome was different for me, I wish I had taken a screen shot at the time, but sometimes I forget to do the obvious things - after reading that I really didn’t think I had to.

I used the term Pre approve because I could not be sure of the exact wording.

Nasqueron

NoviceAngel wrote: »

What I didn’t mention in my earlier post is that I do have three different issue regular savers with Virgin with around £9k across all three and they all mature over the next few months.

You would have thought that they would have checked the accounts I had with them, obviously that doesn’t make any difference either!

For the cost of a stamp, I’ll be writing to them saying I’ll be moving my money out when they mature, not as though it would make any difference anyway.

Cutting off your nose to spite your face lol. Virgin have good rates for regular savers, 3% is one of the best you can get outside of bank account linked ones, be daft to close them over an automated CC rejection.

Ben8282

NoviceAngel wrote: »

That’s exactly what happed, only the outcome was different for me, I wish I had taken a screen shot at the time, but sometimes I forget to do the obvious things - after reading that I really didn’t think I had to.

I used the term Pre approve because I could not be sure of the exact wording.

OK. Just wanted to point out that there is a world of difference between the terms 'pre-approved' and 'guaranteed to be accepted'.
On the subject of Virgin Money, don't like the fact that they have now hidden details of their cards (except the Virgin Atlantic cards) behind the eligibility checker so that you can no longer see details of the various cards that they offer unless you complete the eligibility checker, same as MBNA and Capital One. Not good. A bit like a shop boarding up it's window display and not letting potential customers look until they have proven that they can afford the goods on display!

NoviceAngel

Ben8282 wrote: »

OK. Just wanted to point out that there is a world of difference between the terms 'pre-approved' and 'guaranteed to be accepted'.
..........

Indeed I realise that now - my bad I couldn’t remember the wording so I just shortened the full text provided by Ben

NoviceAngel

Nasqueron wrote: »

Cutting off your nose to spite your face lol. Virgin have good rates for regular savers, 3% is one of the best you can get outside of bank account linked ones, be daft to close them over an automated CC rejection.

No not on this occasion, all three that I have mature in the next three months and I don’t live near a virgin money store to open another even if I wanted to.

NoviceAngel

Now I have something very close to the wording used saying I had guaranteed acceptance, then it will be interesting to see how they explain it away. Once I receive a reply I will of course update this thread.

[Deleted User]

There’s nothing to do or can be done.

Other than appealing and asking for someone to look through your application manually.

And even then they could still decline you and not be obliged to provide a reason why.

The “large” £7k limit you have elsewhere isn’t large in the scheme of things.

And closing down a savings account because of this is just silly really.

forgotmyname

Maybe the (subject to final credit check) will explain it away?

Several fairly recent threads about the Virgin CC

https://forums.moneysavingexpert.com/discussion/5769438/virgin-money-misleading-pre-approval-instant-decision

NoviceAngel

!!! wrote: »

..........And closing down a savings account because of this is just silly really.

You may of missed an earlier post of mine, all three mature in the next three months. I couldn’t open another even if I wanted to because I don’t live anywhere near a VMoney store.