Credit Cards

[Grape]

Just a week or two ago, I would get the exact same Cap1 card offers through their online pre-qualifiers, regardless of the type of My Credit profile I input (they allow you to select Good, Average, Limited, Etc....). Tonight, I selected "Good" credit and I got 3 card offers (ranging from possible CLs of 500-15,000).When I selected "Average Credit", a message appeared stating there were no card offers for this credit type in my area. Well, that is new since previously, regardless of the credit type I selected, I always got the same sub-prime offers (300-3000 CL)

I did recieve my first Cap1 card in Sept '08 with a CL of 500 which has since graduated to a CL of 1500 due to credit steps. I charge a decent amount and PIF or close to it ( I currently have a balance of 59 on a 1500 CL). Also, I have recently removed 2 of 3 baddies (1 CA deleted, 1 30 day late deleted but still have a paid CO showing and due to fall off in 19 months) and decreased my overall util from 87% to 66%.

I am wondering if my recent improvements and positive history with Cap1 have generated better pre-quals for me or if they have changed their Pre-Qual System (since I always received the same pre-quals offers despite what "type" of credit I input...Excellent,Good, Avg, etc.)

Curious if others are experiencing the same.

FYI, my current TU is 687 and Equfax is 667 (these should rise in next couple days as new $0 balance reports for 2 cards)

Message Edited by Grape on 04-10-2009 11:29 PM

Message Edited by Grape on 04-10-2009 11:35 PM

Message Edited by Grape on 04-10-2009 11:51 PM

[UpUpUp]

There system is not a real prequal/approval.  As you noted, *you* changed your credit profile from average to good and they offered you better cards. They are simply showing you what you may qualify for if you have good credit. And, being that they don't set any perimeters on what actually is considered good credit to them, there is no guarantee that's how they will see your credit profile. I would never use the Cap 1 "preapproval" site...it's not a preapproval, they don't even look at your credit. So be weary, unless you are very confident in your reports.

[Grape]

What's different is that I used to get the same offer for the 300-3000 cards no matter what level of credit I defined (excellent, good, average, etc) and I believe, if I recall, others had the same experience. I know get different (or no) offers depending on level of credit I define. I to agree, from what I have read, that the Cap1 prequal is not a good indicator of actually being approved.

[asdeepu]

I used the pre-qual system a month ago. I selected average credit and it gave me 3 cards and I applied for one with $0 AF and was approved wiht a CL of $2000(I requested a BT of $2000 on the appln). It has 0% apr till sep 09.

[UpUpUp]

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Grape wrote:
What's different is that I used to get the same offer for the 300-3000 cards no matter what level of credit I defined (excellent, good, average, etc) and I believe, if I recall, others had the same experience. I know get different (or no) offers depending on level of credit I define. I to agree, from what I have read, that the Cap1 prequal is not a good indicator of actually being approved.

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I *think* they just check their internal system to see if they have ny already selected cards for you. Like they may have a list of folks they've already softed previously and have their info. in their database.  Otherwise, I think it's def. a crapshoot. They aren't pulling your credit on the site to determine if you are eligible and you could still be declined if you apply.  

Did it specifically tell you that that they have an "offer" for you or does it mutter something about not locating any preselected offers for you but the card(s) below may be suitable for you, yada, yada?

[gr2gztch]

which cc's are best to try to pre-qualify for? i've checked a few websites and I see only capital one pre-qualifing, I would guess that when they do this it would be a soft pull?

[VEEnVEGAS]

BofA has a preapproval site. Link is below, it's only a soft inquiry.

 https://preapproved.bankofamerica.com/cc/SelfInquiry.aspx

[gr2gztch]

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VEEnVEGAS wrote:

BofA has a preapproval site. Link is below, it's only a soft inquiry.

 https://preapproved.bankofamerica.com/cc/SelfInquiry.aspx

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.

any others?

[VEEnVEGAS]

I think I've read that HSBC has a prequalify site, but I haven't a clue.

Pretty sure I've read that only Cap One, BofA, and HSBC have any kind of preapproval site.

[kay9]

Thank You Unfortunately, we are unable to provide you with any special online preapproved credit card offers at this time. However, you can still take advantage of other Bank of America offers below.