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Pre-Qualify

New Contributor

Pre-Qualify

Hello All,

 

What sites have you been using to Pre-Qualify? Any success or failure stories appreciated, with some data points!

 

I just tried using Nerdwallet, and it returned Amex Everyday Credit and Amex Premier. Went to Amex's site to check, no Pre-Qualify offers from them. Since I just applied with Amex yesterday and am getting reconsidered at the moment, I didn't apply again. But my scores are just getting to the range of to Pre-Qualify, as this was the first time I got an offer at Nerdwallet.

 

 


5/15/2017 FICO 8 Scores: Ex-617 Eq-593 TU-584
6/3/2017 Scores: EX-651 Eq-612 TU-631
Message 1 of 10
9 REPLIES
Valued Contributor
Message 2 of 10
New Contributor

Re: Pre-Qualify

Thanks, but I'm not looking for links, I'm looking for data points from others. Don't want to load up on inquiries with no cards!


5/15/2017 FICO 8 Scores: Ex-617 Eq-593 TU-584
6/3/2017 Scores: EX-651 Eq-612 TU-631
Message 3 of 10
Frequent Contributor

Re: Pre-Qualify

I'd advise you to actually use each prospective lender's pre-qual site (for those that still have them, at least).

 

Sites like cardmatch, creditkarma, and nerdwallet are just guessing.  They are not actually soft-pulling your file and checking it against each lender's specific requirements - mainly because they don't have precise information.  They are matching your soft-pulled profile to an expected score range and maybe a couple of other factors (although, usually, just a score range) that suggest you might have a shot at the cards they present for you.

 

Capital One, Chase, Discovery, Citi, BoA, US Bank, and others all have pre-qual pages on their websites, where you can check your offers (all SP).

Some of these give concrete, you've got it made, sort of results.  Some are less certain.  But at least you're getting the information from the lender themselves.

Message 4 of 10
New Contributor

Re: Pre-Qualify

Smiley Indifferent

 

Yes. I'm aware of this. Looking for stories of either success or fails, with data points/credit scores


5/15/2017 FICO 8 Scores: Ex-617 Eq-593 TU-584
6/3/2017 Scores: EX-651 Eq-612 TU-631
Message 5 of 10
Established Contributor

Re: Pre-Qualify

The link posted above will have the data you're looking for OP. 

 

If you're looking for a specific lender than you can use the search function in this forum to find people's approvals with their data points as well. 

In the wallet:
Amex PRG ~ Amex BCE ~ Discover ~ NFCU Cash Rewards Visa Signature ~ NFCU Platinum Visa ~ NFCU Line of Credit ~ Chase Amazon Prime Visa Signature ~ PenFed Cash Rewards Visa ~ PenFed Promise Visa ~ Fairwinds Credit Union Cash Rewards Visa ~ CapOne QS1 ~ Lowes Store Card

Closed on mortgage 8/9/17!! Woot!
Message 6 of 10
Frequent Contributor

Re: Pre-Qualify

Data points, schmata points.

 

While two individuals may have exactly the same credit score, number of inquiries, and number/type of negatives, they can both apply and get different results.

If you're in the low-600s, I would say you are below-range for most of the bigger lenders - Chase, Discover, AmEx, etc.

Does that mean you would not be able to get approved by one of them?  Not necessarily.  Highly unlikely, but not necessarily.

Likewise, you can have a score of 799 and still get declined by some of the lenders out there.

What precisely they look for is a secret - and, also, they can flex their own requirements at will depending on what exactly is in an applicant's profile.

 

Being prequalified, on your own, with your information, is the only way to know if you fit the profile for the lender in question.

 

I'd suggest what the PP said, search up some recent threads on approvals and denials and check out what those people had in their file at that time.

Be prepared to wait another 50-80 points if you want "more likely than not" approvals for most of the big lenders, Capital One being an exception (they take lower scores than others, in general).  But then there are things like number of inquiries, personal income, number of new accounts (Chase's famous 5/24 is not the only restriction out there related to new accounts), specific types/ages of derogs, etc.

 

I can tell you I got approved for a Discover card at 660ish, handful of inquiries (less than 10 for sure), about 6 open accounts and one car loan at the time, with a $3500 limit - but that was several years ago.  Same might not be true for anyone else.

 

Message 7 of 10
Regular Contributor

Re: Pre-Qualify

I've applied based from to pre qualify offers in the last couple of months.

Capital One
Pre qualify offers for platinum unsecured MC and QS1
I applied for the platinum first after reading on here that others applied for two in the same day and only absorbed HPs for one. I was instantly approved for the platinum, denied the QS1 because I had applied for the platinum. Wasn't aware of their 1/6 rule.

American Express
I checked their pre qual site and it returned two offers....the BCE and ED card. I read on here that if your pre qual returned either a solid apr or small range, it was likely to be approved. Mine returned a solid apr, no range. I applied and was denied.

My scores at the time of each application were not good enough, yet both cap1 and amex returned pre qual offers. One approved me, one denied. I somehow got pre qual offers from amex with scores EX 533 / EQ 542 / TU 554.
Message 8 of 10
Highlighted
Regular Contributor

Re: Pre-Qualify

I had an opposite experience with amex. No pre qualified offers and when I cold apped for the delta card I was instantly approved for $1k.
Message 9 of 10
Contributor

Re: Pre-Qualify

re: getting the delta card for $1k without a pre-qual... that's their #1 easiest thing to get, good luck on the rest though! i can't even get a CLI and it's been a year, you really have to have better scores for most of their stuff

Starting: EQ - 562, TU - 556, EX - 527
Current: EQ - 663, TU - 623, EX - 634
Goal 2017: All 660+



Garden Status: Gold
Message 10 of 10