Chase Prequalify or Preapproval

[jim44]

While googling Chase prequalify, a CC website mentioned there is no credit inquiry which makes me tend to believe Chase just checks internally for any offers that may have been extended to you. My reasoning is by entering your name, address and last four of your SS they can identify you from a list?    Previously I thought Chase actually performed an SP and decided from there whether any offers could be extended. Anyone have any opinions on this?   I know that Discover has changed their prequalify link and the results are more decisive.  Thanks for any and all opinions. 

[Ardecko]

Because outside of this forum and a few select other places no one understands the difference between a soft pull and a hard pull, they word it that way.

It's not completely disingenuous, as their soft pulls (which they all DO pull) don't leave a mark on your credit score.

[Anonymous]

So if you have cards listed as prequals, and they are using a soft pull to make this decision, how good are my odds if I have baddies?

Thanks!

[jim44]

I appreciate your reply Ardecko.  I was wondering how a SP can be made by a bank with only your name, address and last four of your SS.... although I'm sure there is a way.  I thought that the only way you would receive a solid response was if Chase had already preapproved you prior.   I've have the same results with Citi's website and Amex.  Case in point, I was never prequalified on Amex website... the results showed a few of their cards in which I may be interested in..and it always showed a variable APR.  I did apply with Amex through Creditkarma and was approved. 

[jim44]

IMHO Genius, that's why I always thought some... probably not all... banks have a list of consumers that they have issued preapprovals to. When you utiliize their prequalify site,  the bank's computers check for your name on this list.  I'm most likely wrong of this.  Was wondering if any FICO member that was familiar with these prequalify sites might share some knowledge....  Thanks.

[Anonymous]

Any gurus have any input on this one?

Thanks!!

[sueblue34]

I’m curious about this too.

Chase is my dream card but I’m waiting until I feel a little more confident. My scores are 690 ranges. I checked the prequel site and was surprised all 4 cards showed. Since I consider them a top tier card I wouldn’t want to pull the trigger just yet. Plus I’m not sure how sensitive they are with inquiries.

[Anonymous]

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@jim44wrote:

I appreciate your reply Ardecko.  I was wondering how a SP can be made by a bank with only your name, address and last four of your SS.... although I'm sure there is a way.  I thought that the only way you would receive a solid response was if Chase had already preapproved you prior.   I've have the same results with Citi's website and Amex.  Case in point, I was never prequalified on Amex website... the results showed a few of their cards in which I may be interested in..and it always showed a variable APR.  I did apply with Amex through Creditkarma and was approved. 

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You thought that credit karma has some sort of special authority and does that but banks couldn't? Credit karma SP your report every time it updates your info. Assuming there is no fraud going on you think it is probable that there are 2 people with the same exact name, address and last 4 digits of SSN? Those things in normal cases are more than enough to identify a person.

[jl4]

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@sueblue34wrote:
I’m curious about this too.

Chase is my dream card but I’m waiting until I feel a little more confident. My scores are 690 ranges. I checked the prequel site and was surprised all 4 cards showed. Since I consider them a top tier card I wouldn’t want to pull the trigger just yet. Plus I’m not sure how sensitive they are with inquiries.

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I think a lot of this would come down to what makes your score 690, not that it is 690. 

I acquired my Chase card with a slightly lesser score, but I also didn't have any collections, charge-offs, BKs, only a couple inquiries, and a utilization in the low 30%s.

[sueblue34]

I don’t have any charge off/collections. I have a high UTL 60% and 3 lates from Cap1 back in 2016. 6 inq from 2017