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Frequent Contributor
2FixMyCredit
Posts: 498
Registered: ‎02-02-2013
0

Ah! Pre-Approvals taunting me!

I have four pre-approvals right now taunting me and I am unsure if I should accept or not!  These are all commenity cards so soft pulls and all of which I would use and normally shop at.  I currently have 3 items reporting positive and don't know if I should get a couple more or not :smileysurprised: Advice?

Total CL: $40k+
Discover, BOA, GE, Cap 1, Chase, Barclay!
Gardening Start: 04/22/2013

Mega Contributor
LS2982
Posts: 15,434
Registered: ‎04-09-2011
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Re: Ah! Pre-Approvals taunting me!

Shred them!!! Garden!!!



Silver Spade Garden Club Member - Last App 12/16/13 - Looking for a clean slate NO INQ's / Diamond Inspired!
Starting Score:
EX (PLUS) 583 EQ FICO 565 TU FICO 590 3/15/2011 / Goal Scores: 720
Current Score: EX FICO (PSECU) 671 (myFICO) N/A / EQ FICO 679 / TU08 FICO 678 / TU VS 706 3/6/2014
Community Leader
Senior Contributor
myjourney
Posts: 26,284
Registered: ‎02-07-2013
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Re: Ah! Pre-Approvals taunting me!

If you're going to use and SP's go for it :smileywink:

"Intelligence plus character--that is the goal of true education"
Last 5 apps 6/6/13


Mega Contributor
LS2982
Posts: 15,434
Registered: ‎04-09-2011
0

Re: Ah! Pre-Approvals taunting me!

Going to hurt your aaoa........



Silver Spade Garden Club Member - Last App 12/16/13 - Looking for a clean slate NO INQ's / Diamond Inspired!
Starting Score:
EX (PLUS) 583 EQ FICO 565 TU FICO 590 3/15/2011 / Goal Scores: 720
Current Score: EX FICO (PSECU) 671 (myFICO) N/A / EQ FICO 679 / TU08 FICO 678 / TU VS 706 3/6/2014
Frequent Contributor
2FixMyCredit
Posts: 498
Registered: ‎02-02-2013
0

Re: Ah! Pre-Approvals taunting me!

Honestly I don't have aaoa since all the accounts I currently have are around a month old LOL, nothing else but a old charge off before that.

Total CL: $40k+
Discover, BOA, GE, Cap 1, Chase, Barclay!
Gardening Start: 04/22/2013

Frequent Contributor
2FixMyCredit
Posts: 498
Registered: ‎02-02-2013
0

Re: Ah! Pre-Approvals taunting me!

All Open Accounts: 3

Average Age of Accounts: 0 yr 0 mo

Age of Oldest Account: 0 yr 1 mo

 

This is from CreditKarma, so would me getting these  still have a bad affect on my score? 

Total CL: $40k+
Discover, BOA, GE, Cap 1, Chase, Barclay!
Gardening Start: 04/22/2013

Super Contributor
enharu
Posts: 6,889
Registered: ‎02-27-2013
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Re: Ah! Pre-Approvals taunting me!


2FixMyCredit wrote:

All Open Accounts: 3

Average Age of Accounts: 0 yr 0 mo

Age of Oldest Account: 0 yr 1 mo

 

This is from CreditKarma, so would me getting these  still have a bad affect on my score? 


since you have zero AAoA, it won't affect your score.

you can pretty much go apply, if you want.

However, some prime banks take into consideration how much CL you have vs. your income when you're applying with them for the 1st time with zero prior relationship, so some may turn u down if your CL to income ratio is too ridiculous, on top of the fact that your AAoA is low.

 

JPMorgan Palladium (100k), AmEx Platinum (NPSL), AmEx SPG (46k), AmEx BCP (42k), Chase Sapphire Preferred (47k), Citi Prestige (31k), Citi Thank You Preferred (27k), Citi Executive AAdvantage (25k), JPMorgan Ritz-Carlton (21k), Merrill+ (15k), US Bank Cash+ (22.5k), Wells Fargo (12k), Bloomingdale’s (12.4k), Chase Freedom (5k), Discover IT (5k).
Established Contributor
Pilotdude
Posts: 955
Registered: ‎02-02-2013
0

Re: Ah! Pre-Approvals taunting me!

Gah!!  Shred that garbage!

 

Hold out for a better offer from the likes of Capital One.  Then jump! 

 

Use the simple rule "If it does not have a Visa or MC logo (or amex or disc) shred it just that fast."

 

Then use the next rule "If its from First premeier or Credit One shred yesterday"

 

Grow what you have.  In 90 days pull those reports and come back here and ask what to do next.  So many people take store cards when they can simply wait a month or two and would probably have a nice preapproval for a major which they can use anywhere.  :smileyhappy:

 


NFCU #1 Fan!! NO MOAR APPS TIL 10/13 Minimum!!
TU -746, EX - 721, EQ -745
Cards:NFCU Flag Visa Sig $10000, CSP $8500, AMEX BCP $2000 Freedom $3500, Disc IT $5000, Cap 1 Green $2100, Credit 1 CLOSED! AU on Amex Green, Discover $2000, Cap One Plat $1000
Frequent Contributor
2FixMyCredit
Posts: 498
Registered: ‎02-02-2013
0

Re: Ah! Pre-Approvals taunting me!

I admit, I accepted one but I DO shop there atleast twice a month, so since I'm already spending the money I might as well do it while building my credit!  Well atleast that is how I justify it LOL

Total CL: $40k+
Discover, BOA, GE, Cap 1, Chase, Barclay!
Gardening Start: 04/22/2013

Established Contributor
Pilotdude
Posts: 955
Registered: ‎02-02-2013
0

Re: Ah! Pre-Approvals taunting me!

I'll bite.  What did you get?


NFCU #1 Fan!! NO MOAR APPS TIL 10/13 Minimum!!
TU -746, EX - 721, EQ -745
Cards:NFCU Flag Visa Sig $10000, CSP $8500, AMEX BCP $2000 Freedom $3500, Disc IT $5000, Cap 1 Green $2100, Credit 1 CLOSED! AU on Amex Green, Discover $2000, Cap One Plat $1000

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