I also got 'preapproved" by chase, probably because of my bank account with them, and like you, I applied and got denied.
I called them up and hocked them.
They told me that the t&c's state that "we will check your credit report to see that you continue to meet our requirements".
The kicker is, that they denied me because "not enough of a history"; which makes no sense, because if I met the requirement before, then what happened? its not like I missed a payment or took out a loan between the time they sent me the offer and I applied.
When I pointed this out to them, they told me "preapproved" means to apply; basically saying, we just sent you an application, and as for the loshon of "continue", they said that means as in each step of the process. pretty nifty way of reading. In the yeshiva world we call it "using your thumb" a little too much.
