Truist Credit Card Pre Approval (2024)

FAQs

How accurate is Truist pre-approval? ›

TRUIST pre-approvals are typically accurate, however, given the situation that occurred a few months back with individuals gorging on multiple pre-approved offers, they can be subject to additional review/scrutiny on the final outcome. If you're only going for one specific product, perhaps no issue.

The Truist Enjoy Cash Secured Credit Card is available to people with bad credit, too. That means people with credit scores below 640 also have a shot at getting approved for the Truist Enjoy Cash Secured Credit Card.

However, even if you find out you are preapproved for a credit card, you could still be denied. That's because preapproval involves a soft credit check, which only gives a snapshot of your current financial situation.

Pre-approval offers can be delivered by physical mail or email, or provided verbally through a phone call. A pre-approval offer suggests you've passed the first step in the screening process. But remember — you can't actually be approved for the card unless you apply.

But if you decide to submit an application for any Truist card, a hard inquiry will be conducted, which will lead to a slight, but temporary decrease in your credit score. This answer was first published on 02/22/22.

Pre-approval is not a complete guarantee. You'll still have to complete the application process and provide your documents to the lender. Pre-approval doesn't last forever but usually for a set time – often 90 days. If you apply too often for pre-approval and don't take up a home loan it will go on your credit history.

The Credit Line Amount may be less based on your Truist Associated Checking Account history with a $50 minimum Credit Line Amount. Qualified Deposit(s) means any type of deposit of at least $100 or more made to your Truist Associated Checking Account within one (1) of the prior two (2) statement cycles.

You're applying for the Truist Enjoy Beyond Credit Card.

You'll need to temporarily lift any freeze placed with Equifax and TransUnion. We'll use your credit info to verify your identity. If you'd like to apply with a co-applicant, please visit a branch or call us at 844-4TRUIST (844-487-8478).

Overdrafts or unforeseen expenses, a Truist Ready Now credit line has your back. Lines range from $300 to $7,500. No transfer fees. Available to clients with a Truist checking account.

The lender's credit criteria has changed

Lenders can change their lending criteria at their discretion. This means that if a lender tightens their lending conditions after you were granted pre-approval and you no longer meet them, they could reject your application.

Why would you get denied after pre-approval credit card? ›

You still have to apply for the credit card you've been preapproved for, and there are numerous reasons you could be denied. For example, it's possible you met a minimum credit score requirement but your income is insufficient. Or perhaps the creditor finds that you applied for too many credit cards in a short time.

There are a variety of reasons why your loan preapproval may have been declined by the lender. Some common reasons for denial could include: Your credit score is too low. You don't have enough credit history.

What is the 5/24 rule? Many card issuers have criteria for who can qualify for new accounts, but Chase is perhaps the most strict. Chase's 5/24 rule means that you can't be approved for most Chase cards if you've opened five or more personal credit cards (from any card issuer) within the past 24 months.

Con: You could get stuck with a high-interest rate. Pro: The potential to earn rewards - many credit cards offer some form of rewards that you can earn through spending. Con: If you accept a loan you will be locked into long-term monthly payments, which can affect your budget and spending lifestyle.

Decisions take just minutes.

Confidence can come quickly when you apply. Most decisions happen in under 15 minutes, and money may be available the same day.

In every scenario, getting a pre-approval is better than getting pre-qualification for current and future home buyers. Pre-approvals are accurate and valuable.

You don't need a certain credit score to open a Truist checking, savings or money market account, as there is no credit score requirement. Truist does not require a credit score for these accounts because they are deposit accounts, not loans or lines of credit.

Applying for a Truist personal loan takes only a few minutes, and you could have a decision on your loan within 15 minutes. In some cases, you can receive your loan money the same day you apply. Unfortunately, there's no way to see if you qualify or check your rate before applying.