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Ask A Back Office CC Company Employee ANYTHING

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Imperfectfuture
Super Contributor

Re: Ask A Back Office CC Company Employee ANYTHING


@Imperfectfuture wrote:

A. Thread is BOOKMARKED. Good info.

B. If you offer corporate, small business cards, with personal guarantee, does the underwriting tend to be more lax? Or more strict?

C. Does an annual fee loosen up the strict lending requirements? I.e. Are folks more likely to get approved for travel cards with annual fees, than the same high limit signature style card with no annual fee?


Request again? Smiley Wink

Signature needs updating
Message 221 of 421
Anonymous
Not applicable

Re: Ask A Back Office CC Company Employee ANYTHING


@Imperfectfuture wrote:

@Imperfectfuture wrote:

A. Thread is BOOKMARKED. Good info.

B. If you offer corporate, small business cards, with personal guarantee, does the underwriting tend to be more lax? Or more strict?

C. Does an annual fee loosen up the strict lending requirements? I.e. Are folks more likely to get approved for travel cards with annual fees, than the same high limit signature style card with no annual fee?


Request again? Smiley Wink


Quoting and responding to yourself is a sign of......something

Message 222 of 421
WNA888
New Contributor

Re: Ask A Back Office CC Company Employee ANYTHING


@Anonymous wrote:
So what you are saying is....the SCT is evil.

It's not evil. For many people, it's the only way for them to build credit, short of getting a secured card. But once you have a standard general purchase credit card, you should close all your store cards except the oldest one. 

Barclaycard TU FICO Score : 826 [1/12/15]
Message 223 of 421
joedtx
Valued Contributor

Re: Ask A Back Office CC Company Employee ANYTHING

WNA88,

 

Let me apologize for those who can't quite get the message of where to draw the line on asking overly personal, or inappropariate questions when you have been kind enough to help out others by answering endless questions.

 

Folks this individual has pretty much been at this since 11pm last night give him your thanks and a little breathing room. 

 

Thanks WNA88 Smiley Happy

 

~cheers

Message 224 of 421
sunkissed
Established Contributor

Re: Ask A Back Office CC Company Employee ANYTHING

WNA8888, I don’t want to beat a dead horse.  Please forgive me if my question sounds eerily similar to previous questions.

 

I have many cards, both regular and store cards.  I like the rewards that I get from my store cards and would be sad to part with them.  Are all store cards frowned upon, even for those who have more “regular” cards than store cards?  Even store cards with decent limits?  Are store cards with Visa/Mastercard/Amex treated the same as cards that can only be used in the store?

 

My utilization is always low (always at or belowr 9% overall).  I always pay in full.

NFCU Flagship $32K | NFCU Cashrewards $42K | Discover IT $39K | SECU Visa $20K | Chase SW $24k | CSR $15K | Chase Bonvoy $11.5K | Chase Freedom $11.5K | Chase Amazon Visa 8.5K | AMEX Bonvoy $18.1K | AMEX Hilton Surpass $15K | AMEX Hilton Aspire $24.4K | AMEX Gold | Aviator Red $16K | Uber Visa 10k | Citi TY Premier $24.6K | BoA Premium Rewards 35k | BoA Cash Rewards Visa $31.5k | BoA Cash Rewards MC $23k | US Bank Cash+ $10k | USAA AMEX $6K | Cap1QS $11K | BJs MC $27.6K | Walmart MC $5.1K | Loft MC $25,000 | Macy’s Store/Amex $20K/$1K | BR Visa $10K | JCP $1K | VS $3.2K | Home Depot $5K | Lowes $8.5K | Target $14.5k
Message 225 of 421
maksimfa
Contributor

Re: Ask A Back Office CC Company Employee ANYTHING

How long do the underwriters or the system look at in history for lates, collections, etc?

Do they place different weights whether they were paid or not?

 

Thanks.

Message 226 of 421
MacMan313
Contributor

Re: Ask A Back Office CC Company Employee ANYTHING

I check preapprovals on various credit company websites routinely (Once or Twice a month). Does this have a negative affect in my internal score at the company? 

EQ: 646 TU: 653 EX: 658 [CH7 Discharge 10/14]

PayPal Credit $2000 | Credit One Platinum $1200 | Grain $1000 | Capital One Quicksilver $700 | Capital One Quicksilver $500 | BrightWay $500 | Capital One Walmart Rewards $300
Message 227 of 421
Anonymous
Not applicable

Re: Ask A Back Office CC Company Employee ANYTHING

Also, if I was suddenly out for a medical issue and ran up my util to 80%, should I call the CC company and let them know what is going on and why I am spending more than usual?

Message 228 of 421
JSS3
Valued Contributor

Re: Ask A Back Office CC Company Employee ANYTHING

Do you see anything in my sig that needs to go in order to get good(5,000 or more) starting limits? (Of course, util will be low and inquires will age/ fall off).

Oldest Account 13.5 year(s)
AAOA = 1yr 10 months (according to paid for EQUIFAX)
1.8 year(s) (according to paid for EXPERIAN)
NO derogs
No current/open installment loans(closed and "paid as agreed" student loan)
Income: 40,000

TU 14 inqs (8 falling off by Dec 2015)
EX 14 inqs (7 falling off by Dec 2015)
EQ 8 inqs (4 falling off by Dec 2015)

I need a BOA card, BADLY(Americard for casback)
I need to get in with AMEX(Blue Cash Everyday)
I need a Chase Freedom(prequalified just not the right time)
I need Barclays Sallie Mae and Ring.

I NEED all these with great starting limits!

Gardening, as my last app was 3 months ago.

That's all. 😁

 

Citi EX Fico 656   (updated 1/27/15)

Discover TU Fico 694  (updated 1/29/15)

Barclays TU Fico 725  (updated 2/21/15)

Walmart TU Fico 694  (updated 2/4/15)

Capital One TU Fico 651  (updated 2/14/15)

Experian.com Fico   693 (updated 2/22/15)

Equifax.com Fico  676 (updated 2/20/15)

 

 

Issues always listed:

1.  Length of time revolving accounts have been established

2.  Proportion of balances to credit limits is too high on bank / revolving accts (just paid off most of my balances)

Message 229 of 421
WNA888
New Contributor

Re: Ask A Back Office CC Company Employee ANYTHING


@Imperfectfuture wrote:

@Imperfectfuture wrote:

A. Thread is BOOKMARKED. Good info.

B. If you offer corporate, small business cards, with personal guarantee, does the underwriting tend to be more lax? Or more strict?

C. Does an annual fee loosen up the strict lending requirements? I.e. Are folks more likely to get approved for travel cards with annual fees, than the same high limit signature style card with no annual fee?


Request again? Smiley Wink


A. Good to hear.

B. It tends to be more lax because a personal guarantee is kind of like having someone co-sign your home or auto loan. In some cases, without the personal guarantee, the business would not qualify for a credit card at all.

C. Traditionally, travel rewards cards with AF are reserved to people with better credit profile. Nowadays, it's very competitive so many top CCCs have loosen up U/W criteria. With that being said, it's so easy to get a Visa Signature the past few years. CCCs usually hand out Visa sigs like candies now because when customers swipe it, merchants get charge higher swipe fees than a plain jane credit card.

 

 

Good questions. And my bad I miss your question.

Barclaycard TU FICO Score : 826 [1/12/15]
Message 230 of 421
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