How accurate are pre-qualifiers??

Anonymous · ‎10-14-2014

I know they are never 100% approval results but which CC pre-qualifiers sites are more accurate or say good chance to apply if you are given an offer. Both Chase and Cap 1 did not extend me but Discover showed me my 'Personalized Offer" or "Here's the card for you". I am gardening until Feb 2015 but wondered if this is a good shot or just a standard reply.

Anonymous · ‎10-14-2014

Standard. Put in a made up name and random social numbers you'll likely receive the same results

skigirl916 · ‎10-14-2014

@Anonymous wrote:
Standard. Put in a made up name and random social numbers you'll likely receive the same results

Totally disagree.

They exist for a reason. If it says you're pre-qualified/approved, you're pretty much in. Chase's pre-qualified/pre-approval site is spot on.

However, iff it says they cannot find any offers for you, but they recommend a particular card, that's a sign that you might not (probably will not) get it.

Anonymous · ‎10-14-2014

@skigirl916 wrote:
@Anonymous wrote:
Standard. Put in a made up name and random social numbers you'll likely receive the same results
Totally disagree.

They exist for a reason. If it says you're pre-qualified/approved, you're pretty much in. Chase's pre-qualified/pre-approval site is spot on.

However, iff it says they cannot find any offers for you, but they recommend a particular card, that's a sign that you might not (probably will not) get it.

No, HeavenlyFlower is 100% right with Discover. You could put in John Smith and 1234 and it would give you the same "personalized offer". Chase is good and so is Cap One but OP had no offers from them.

uswala · ‎10-14-2014

@skigirl916 wrote:
@Anonymous wrote:
Standard. Put in a made up name and random social numbers you'll likely receive the same results
Totally disagree.

They exist for a reason. If it says you're pre-qualified/approved, you're pretty much in. Chase's pre-qualified/pre-approval site is spot on.

However, iff it says they cannot find any offers for you, but they recommend a particular card, that's a sign that you might not (probably will not) get it.

+1

That is my experience as well with chase.

Haven't really tried Discover.

Anonymous · ‎10-14-2014

Thank you gib! I was only referring to Discover

Sorry for any miscommunication.

skigirl916 · ‎10-14-2014

Pre-qualification/approval is very different than an offer to apply. I treat an offer like a recommendation. They mean nothing.

But a pre-Q/A is pretty much an "in."

Anonymous · ‎10-14-2014

@skigirl916 wrote:
@Anonymous wrote:
Standard. Put in a made up name and random social numbers you'll likely receive the same results
Totally disagree.

They exist for a reason. If it says you're pre-qualified/approved, you're pretty much in. Chase's pre-qualified/pre-approval site is spot on.

However, iff it says they cannot find any offers for you, but they recommend a particular card, that's a sign that you might not (probably will not) get it.

Totally agree with you.

As for Discover, I just did the prequal and got:

Your Personalized Offer

Here's The Card We Found For YouThe Discover it® card is changing the game.

and yes, this does seem to be a generic message and should be looked at as the same as you just randomly applying. I wonder why they don't request an address.

I am rebuilding... I had 1 secured card for the past year up until last month when CAP1 sent a preapproval which I went for and was approved for. Since then I've been telling myself I want 1-2 more major credit cards and checked some prequal sites including Chase. After wondering the same exact thing I did some research and accodingly chose Chase since they offered me the "Freedom" ... to my surprise I was approved for the Freedom with the highest CL of all my cards... not to mention my Fico scores are currently 611~ as I am rebuilding. I agree that Chase is spot on according to research and worst case at least you can always recon with them.

Ps; Chase's site no longer shows any cards for me.

ddemari · ‎10-14-2014

If cap1 has an offer for u they will disclose the interest for u specifically like 12.9% not 12.9 to 22.9.

BOA DISCOVER AND CHASE will say heres the card we found for u with a lot
Of vague terms. Cap1 has been accurate for me the rest are generic

Anonymous · ‎10-14-2014

@Anonymous wrote:
@skigirl916 wrote:
@Anonymous wrote:
Standard. Put in a made up name and random social numbers you'll likely receive the same results
Totally disagree.

They exist for a reason. If it says you're pre-qualified/approved, you're pretty much in. Chase's pre-qualified/pre-approval site is spot on.

However, iff it says they cannot find any offers for you, but they recommend a particular card, that's a sign that you might not (probably will not) get it.
No, HeavenlyFlower is 100% right with Discover. You could put in John Smith and 1234 and it would give you the same "personalized offer". Chase is good and so is Cap One but OP had no offers from them.

Most are fairly accurate. Discover is a little tricky. Yes, you can put random names and numbers in and it will generate an offer. However, in my case at least, I check the pre-qualified sites and comenity pop-up sites on a bi-weekly basis just to see how they change as my usage and overall profile change.

I noticed when I first tried the Discover tool, it showed me the full range on the APR from 10.99-22.99. When my credit bumped up about 40 pts, I started receiving the actual mailers from them, I ran it again and it gave me a narrowed down APR of 12.99-15.99%. So the offer will likely change if your credit profile changes significantly.

Now, there is a caveat to this whole thing. I just got approved for 3 cards at about 22% average APR, so I know there is no way I'm going to get approved for the offer they are showing. It's definitely a YMMV type of thing.