What do pre-qualified offers use?

[Yuruke]

 I'm not sure that I could find a good answer this while searching the forums. What exactly do prequalified offers take into account when they're generated for you? Is it just your score or your whole report? The reason I ask is I have offers from both Amex and Chase with ficos of EX 672, TU 675, EQ 701  but I do have a defaulted student loan from 2012 on my accounts (being rehabbed now, done in June/July) so I just wasn't sure if this is taken into account on these offers? 

[Anonymous]

They use your entire report. Sometimes between the time those marketing lists are generated and you apply for the card your report may have changed in such a way that you may no longer qualify. Prequalified has to be taken with a grain of a salt since it doesn’t exactly mean you will be approved. Are you under the 5/24 with chase?

[Yuruke]

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@Anonymouswrote:
They use your entire report. Sometimes between the time those marketing lists are generated and you apply for the card your report may have changed in such a way that you may no longer qualify. Prequalified has to be taken with a grain of a salt since it doesn’t exactly mean you will be approved. Are you under the 5/24 with chase?

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Yes, I am under 5/24 with chase. My reports haven't changed much in the last few months except Utilization going down to 15% and a deletion on Equifax. Not sure if it makes much difference but I did notice that previously I was not eligible for any welcome offers on amex prequals and now they are popping up on the prequals suddenly. 

[Anonymous]

I see. With all you’ve mentioned thus far I’d be apt to apply for one or both.