topic Re: Declined less than30 days ago but still getting pre approval mailers in Credit Cards

Declined less than30 days ago but still getting pre approval mailers

jetsfan2013 — Mon, 17 Dec 2012 23:58:28 GMT

Hey everyone,

A few weeks ago I had received a pre selected mailer from Barclays Bank for their rewards card. With 4 cards currently in the wallet, but none that offered rewards, I was interested and proceeded to call to submit an app. Got the 10 day message upon the app. When I called back a week later, spoke with a credit analyst who said I was denied due to util that was reporting(about 75 percent at time of app) and age of accounts (all less than a year).

Now 3 weeks later, I have received two additional mailers with the same offer.
I had explained on the recon that the util was high due to Hurricane Sandy, and I think she was gonna look past that, however she said she could not look past both util and AAOA.

Should I try again now util is reporting less than 10 percent, or wait about 6 months?

Re: Declined less than30 days ago but still getting pre approval mailers

bichonmom — Tue, 18 Dec 2012 00:03:13 GMT

The "pre approval" offers aren't based on your likelihood of getting approved. They're based on marketing criteria they get from the CRAs. If you were declined for high util and AAoA, you need to at least rectify your util. If you pay it down to under 10% you may get approved. It will also help to tweak your FICO by having all but one cc report a zero balance.

Re: Declined less than30 days ago but still getting pre approval mailers

cashnocredit — Tue, 18 Dec 2012 00:22:57 GMT

Pre-screened offers are based on pre-established criteria that must be met for the offer to be extended but may not be met once additional information is collected (such as income). The criteria must be kept for three years after making the offers.

http://www.boardmanclark.com/reading-room/the-impact-of-the-fair-credit-reporting-act-on-your-advertising-and-promotion/

Re: Declined less than30 days ago but still getting pre approval mailers

jetsfan2013 — Tue, 18 Dec 2012 00:27:28 GMT

Thanks for the insight