Credit Cards

[DI]

AMX offered me to apply for 3 of its finest cards.  All were no limit credit cards, with an annual fee after one year for two of the cards.  I ignored the offers.  I think a no limit card would hurt my FICO score.

[txjohn]

And their offers are only offers to apply, not any real preapproval.  I have known many people who applied in the past 6 months who have good to great credit and received offers, only to be declined upon the actual application (or should I say "acceptance" of the offer).

They have been soliciting me personally and business hard for the past year.  I ignore them completely.

Personally, if you are not "opted out" I wish the card companies could/would do a better prescreening and preapproval process.  It would be nice to know that the CCC has received enough soft information that you are actually preapproved, subject to possibly income or something.

[FicoWatcher]

We used to get half a dozen credit card applications from various bank per week, but for the past few months, the only ones we get are from Amex.  You'd think that after years of sending us these pre-approved applications, and getting no response from us, they'd stop sending them.  When I checked my FICO score there was about one inquiry from Amex per month.  I would NEVER carry an Amex card on principle alone, let alone pay them an annual fee.  Amex lost its cache years ago, but hasn't realized it yet.

[DickC]

I have not noticed much of a drop off in getting "pre-approved" applications. The one thing I have noticed though, is I am getting a LOT from OIL CO. and DEPT STORES, since  I have none. 

As for Banks, we are still getting several offers, not only for Credit Cards, but other credit products . Also, am constantly getting requests from the 4 Credit cards  I carry, offering CLI's, but of course, I turn them down.

[FretlessMayhem]

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DI wrote:
I think a no limit card would hurt my FICO score.

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I think TU 2004 is the only model that still includes the Amex charge cards in utilization, but I could be wrong. 

Message Edited by FretlessMayhem on 07-06-2009 10:19 AM

[BungalowMo]

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DickC wrote:

I have not noticed much of a drop off in getting "pre-approved" applications. The one thing I have noticed though, is I am getting a LOT from OIL CO. and DEPT STORES, since  I have none. 

As for Banks, we are still getting several offers, not only for Credit Cards, but other credit products . Also, am constantly getting requests from the 4 Credit cards  I carry, offering CLI's, but of course, I turn them down.

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If you are getting offers from current cards for CLI...take it!  This will make your rev. util a lower %!! 

Unless, of course, you're already sitting at 0%

[DickC]

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BungalowMo wrote:

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DickC wrote:

I have not noticed much of a drop off in getting "pre-approved" applications. The one thing I have noticed though, is I am getting a LOT from OIL CO. and DEPT STORES, since  I have none. 

As for Banks, we are still getting several offers, not only for Credit Cards, but other credit products . Also, am constantly getting requests from the 4 Credit cards  I carry, offering CLI's, but of course, I turn them down.

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If you are getting offers from current cards for CLI...take it!  This will make your rev. util a lower %!! 

Unless, of course, you're already sitting at 0%

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Luckily, we have not had to carry a balance for quite a while. We have only 4 cards, with a combined CL of 95K, so frankly I see no need to raise the CL.

Then again I am an older fellow and as they say, "you can't teach an old dog, new tricks".

[athensguy]

Just because you aren't carrying a balance doesn't meant that you don't have a util calculation or that getting a CLI might improve your credit.

[DI]

Now that my scores are great, I am reluntanct to apply for any type of card.  Plus, I haven't seen any good deals on credit cards.