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Contributor
Posts: 148
Registered: ‎11-28-2012
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Declined less than30 days ago but still getting pre approval mailers

Hey everyone,

A few weeks ago I had received a pre selected mailer from Barclays Bank for their rewards card. With 4 cards currently in the wallet, but none that offered rewards, I was interested and proceeded to call to submit an app. Got the 10 day message upon the app. When I called back a week later, spoke with a credit analyst who said I was denied due to util that was reporting(about 75 percent at time of app) and age of accounts (all less than a year). 

 

Now 3 weeks later, I have received two additional mailers with the same offer.
I had explained on the recon that the util was high due to Hurricane Sandy, and I think she was gonna look past that, however she said she could not look past both util and AAOA.

 

Should I try again now util is reporting less than 10 percent, or wait about 6 months?

Rebuilding Since 11/11
Current Score: 659 5/14 | Goal Score: 710+ 4/15
Cap 1 Quicksilver 2250 | Cap 1 Visa 2000 | Barclays Apple Visa 2000 | Discover IT 1500 | American Signature Store 1000 |

Rebuilders: First Natl 850 | Show MC 550 | Walmart Store 150 | American Eagle Store 150 ~~ Garden rest of 2014
Senior Contributor
Posts: 3,322
Registered: ‎05-05-2011
0

Re: Declined less than30 days ago but still getting pre approval mailers

The "pre approval" offers aren't based on your likelihood of getting approved. They're based on marketing criteria they get from the CRAs. If you were declined for high util and AAoA, you need to at least rectify your util. If you pay it down to  under  10% you may get approved. It will also help to tweak your FICO by having all but one cc report a zero balance. 

~*~*~*~*~*~*~*~*~*~*~*~*~*~*~*~*~*~*~*~*~*~*~*~*~*~*~*~*~*~*~*~*~*~*
EQ FICO 750 | TU FICO 761 (Walmart) | EX FAKO 767 | Goal: 800+

Edits, funky spacing and spelling due to my iPad not getting along with the forum editor!

Valued Contributor
Posts: 1,186
Registered: ‎07-18-2009
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Re: Declined less than30 days ago but still getting pre approval mailers

Pre-screened offers are based on pre-established criteria that must be met for the offer to be extended but may not be met once additional information is collected (such as income). The criteria must be kept for three years after making the offers.

 

http://www.boardmanclark.com/reading-room/the-impact-of-the-fair-credit-reporting-act-on-your-advert...

 


I have reestablished credit over the last couple years
so my moniker is, well, rather out of date.

WM Discover $1800, WF Plat 12k, Chase Freedom Siggy18k, Amex Plat (60k H/B), Citi AA EWMC 25k
Contributor
Posts: 148
Registered: ‎11-28-2012
0

Re: Declined less than30 days ago but still getting pre approval mailers

Thanks for the insight

Rebuilding Since 11/11
Current Score: 659 5/14 | Goal Score: 710+ 4/15
Cap 1 Quicksilver 2250 | Cap 1 Visa 2000 | Barclays Apple Visa 2000 | Discover IT 1500 | American Signature Store 1000 |

Rebuilders: First Natl 850 | Show MC 550 | Walmart Store 150 | American Eagle Store 150 ~~ Garden rest of 2014
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