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CRED1-Have Pre-Approved Mailer..Declined on Pre-Qualify?

Valued Contributor

CRED1-Have Pre-Approved Mailer..Declined on Pre-Qualify?

So I still have that pre-approved Credit 1 mailer I received (it's good until 9/25) so just for snicks, I went to their homepage to see if I prequalifiied for a card-AND WAS DECLINED??!! Very strange! They pull T/U and it showed my 704 score and the reasons for the decline. That BETTER have been a soft pull they did as stated in their disclaimer (will not affect your credit score) b/c all of the other pre-quals I've tried for other cards have never been that specific or showed the reasons.

Message 1 of 21
20 REPLIES
Valued Contributor

Re: CRED1-Have Pre-Approved Mailer..Declined on Pre-Qualify?

Its a sp Smiley Wink


GARDEN GOAL: MARCH 2014
LAST APP: 08/20/2013
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Message 2 of 21
Valued Contributor

Re: CRED1-Have Pre-Approved Mailer..Declined on Pre-Qualify?

Credit one is crazy. Every time I do their pre-qualified soft pull I get denied and it gives me a score of 537 (my eq fico is 629) it's almost 100 point difference . it doesn't say what type of score it is but it is on a similar range to fico scores up 350-850 or something like that.
AMEX PRG NPSL,Lowes $17000,Capital One venture card $12,000,Us Airways mastercard $9500,Fidelity Amex $9000, Discover it $8000, Capital One Venture One $7500, BOA 123 rewards $7500 CSP $6000, Capital One Quicksliver $5500, Amazon Store card$5000,Barclay
Card Ring $5000 Chase Marriott $5000,Chase Hyatt $5000, Sallie Mae Mastercard $4400, Paypal smart connect $4000,Chase Freedom $3200, Capital one Quicksliver visa $3000, Chase IHG Rewards $2300, Chase Southwest Premier $2000, Citi Double Cash $1500, AMEX BCE $1000

Last app July 22nd 2015- No apps for two years.
Message 3 of 21
Valued Contributor

Re: CRED1-Have Pre-Approved Mailer..Declined on Pre-Qualify?

Creditone is only by invitation... So if u got one of those and want to app most likely you are in...imho its a great rebuilder to have for a year then ax it,..better than fp Smiley Happy but if you dont need it then no need to app Smiley Happy


GARDEN GOAL: MARCH 2014
LAST APP: 08/20/2013
---=[NORTHBOUND]=---
Message 4 of 21
Valued Contributor

Re: CRED1-Have Pre-Approved Mailer..Declined on Pre-Qualify?


Credit-hoarder wrote:

So I still have that pre-approved Credit 1 mailer I received (it's good until 9/25) so just for snicks, I went to their homepage to see if I prequalifiied for a card-AND WAS DECLINED??!! Very strange! They pull T/U and it showed my 704 score and the reasons for the decline. That BETTER have been a soft pull they did as stated in their disclaimer (will not affect your credit score) b/c all of the other pre-quals I've tried for other cards have never been that specific or showed the reasons.


I didn't get a mailer but I was curious about the prequal. so I was declined also don't feel bad and it showed my score at 763.  I was just curious especially with the score being given.

Message 5 of 21
Valued Contributor

Re: CRED1-Have Pre-Approved Mailer..Declined on Pre-Qualify?

@djc1puno: The score it gave me was my actual T/U score here on myFico, so that part was accurate-and so were some of the baddies they cited me with. And yes they hit you up for $ 79 right off the bat-BUT no charge for cash advances the first year also. Even though I don't really need it per-say (and I would be stoned to death by everyone here on the board-LOL), I'm thinking of taking it FOR ONE YEAR just to see what kind of CL they give me to start with. Probably the $300 min. since I was declined in pre-quality.

Message 6 of 21
Valued Contributor

Re: CRED1-Have Pre-Approved Mailer..Declined on Pre-Qualify?


Credit-hoarder wrote:

@djc1puno: The score it gave me was my actual T/U score here on myFico, so that part was accurate-and so were some of the baddies they cited me with. And yes they hit you up for $ 79 right off the bat-BUT no charge for cash advances the first year also. Even though I don't really need it per-say (and I would be stoned to death by everyone here on the board-LOL), I'm thinking of taking it FOR ONE YEAR just to see what kind of CL they give me to start with. Probably the $300 min. since I was declined in pre-quality.


Im just wondering how do you know it is the same version of tu sold on here? Did it just happen to be the same score? When i do the Pre-Qualified it pulls experian and tells me this:

 

Thank you for your recent request for pre-qualification for a Credit One Bank credit card. Your request was carefully considered and we are unable to provide a credit card offer for you at this time.

 

Reasons for Denial of Credit
Your application was processed by a credit scoring system that assigns a numerical value to the various items of information we consider in evaluating an application. These numerical values are based upon the results of analyses of repayment histories of large numbers of customers.

 

The information you provided in your application did not score a sufficient number of points for approval of the application. The reasons you did not score well compared with other applicants were:

  • Serious delinquency
  • Delinquency reported on accounts
  • Insufficient time since most recent account opened
  • Too many recent inquiries

Your Right to Get Your Credit Report
In evaluating your application the consumer reporting agency listed below provided us with information that in whole or in part influenced our decision. The consumer reporting agency played no part in our decision and is unable to supply specific reasons why we have denied credit to you. You have a right under the Fair Credit Reporting Act to know the information contained in your credit file at the consumer reporting agency. It can be obtained by contacting: Experian, P.O. Box 9701 Allen, TX 75013, 1-888-397-3742, www.experian.com/reportaccess. You also have a right to a free copy of your report from the reporting agency, if you request it no later than 60 days after you receive this notice. In addition, if you find that any information contained in the report you receive is inaccurate or incomplete, you have the right to dispute the matter with the reporting agency.

 

Information about Your Credit Score
We also obtained your credit score from this consumer reporting agency Your credit score is a number that reflects the information in your credit report. Your credit score can change, depending on how the information in your credit report changes.


Your credit score: 525
Date: 09/06/2013 
Scores range from a low of 350 to a high of 850

Key factors that adversely affected your credit score:

  • Serious delinquency
  • Delinquency reported on accounts
  • Insufficient time since most recent account opened
  • Too many recent inquiries
AMEX PRG NPSL,Lowes $17000,Capital One venture card $12,000,Us Airways mastercard $9500,Fidelity Amex $9000, Discover it $8000, Capital One Venture One $7500, BOA 123 rewards $7500 CSP $6000, Capital One Quicksliver $5500, Amazon Store card$5000,Barclay
Card Ring $5000 Chase Marriott $5000,Chase Hyatt $5000, Sallie Mae Mastercard $4400, Paypal smart connect $4000,Chase Freedom $3200, Capital one Quicksliver visa $3000, Chase IHG Rewards $2300, Chase Southwest Premier $2000, Citi Double Cash $1500, AMEX BCE $1000

Last app July 22nd 2015- No apps for two years.
Message 7 of 21
Established Contributor

Re: CRED1-Have Pre-Approved Mailer..Declined on Pre-Qualify?

The free score they give to account holders is a FAKO.

Message 8 of 21
Valued Contributor

Re: CRED1-Have Pre-Approved Mailer..Declined on Pre-Qualify?

@bigblue7722:  It could be a coincidence but I doubt it b/c mine mentioned numerous public records-which I actually do have on my reports right now. 4 to 6 depending on which report is pulled.

Message 9 of 21
Valued Contributor

Re: CRED1-Have Pre-Approved Mailer..Declined on Pre-Qualify?


Credit-hoarder wrote:

@bigblue7722:  It could be a coincidence but I doubt it b/c mine mentioned numerous public records-which I actually do have on my reports right now. 4 to 6 depending on which report is pulled.


I might be wrong but, I think the reports would be the same whether its a fako or fico but the scores can be different or sometimes the same. But who knows lol this credit score stuff is unreal. There should just be one credit agency with 4 scores auto, mortgage, credit cards, and overall.  

AMEX PRG NPSL,Lowes $17000,Capital One venture card $12,000,Us Airways mastercard $9500,Fidelity Amex $9000, Discover it $8000, Capital One Venture One $7500, BOA 123 rewards $7500 CSP $6000, Capital One Quicksliver $5500, Amazon Store card$5000,Barclay
Card Ring $5000 Chase Marriott $5000,Chase Hyatt $5000, Sallie Mae Mastercard $4400, Paypal smart connect $4000,Chase Freedom $3200, Capital one Quicksliver visa $3000, Chase IHG Rewards $2300, Chase Southwest Premier $2000, Citi Double Cash $1500, AMEX BCE $1000

Last app July 22nd 2015- No apps for two years.
Message 10 of 21