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Frequent Contributor
Posts: 356
Registered: ‎08-09-2011
0

Pre-Approved Offers Flowing Again

Today was the moment I've been waiting a long time for... getting pre-approved/pre-screened offers in the mail.  Sounds crazy, I know, but I've actually kind of missed it.  Since filing Chapter 7 in May 2002, I can recall only a few pre-screened/pre-approved offers-- all from Capital One (one for an unsecured credit card and a couple for auto loans -- I already had an auto loan with Capital One at this point).  They were all over 7 years ago.

 

The Chapter 7 fell off the credit reports last month.  I opened the mailbox today and had a pre-approved offer for a Barclay Rewards Card, and a pre-screened offer for a Citi/American Airlines card.  I am not in the market for a new card right now so I shredded both, but I did notice that the Barclay card promoted itself as being a way to rebuild my credit.  With FICO's over 800, I think I've already accomplished that.

 

I think getting these in the mail brought closure to the whole BK situation.  I have rebuilt my credit and am financially stronger than ever.  I know that, and my FICO score shows my achievements, but getting pre-approved offers gives me some mental satisfaction that the tables have turned:  I'm not the one interested in the credit card companies;  they are the ones interested in me!

 

It's all in my head, I know.  Just one of those things.  Thought I'd share it.

5/2002 - Chapter 7
7/2011 - Equifax FICO 693
5/2012 - Equifax FICO 812! In the "800 Club!"
2/2013 - Lender-pulled EQ FICO 821 (car loan)
7/2014 - Lender-pulled EQ FICO 832 (car loan)
Valued Contributor
Posts: 1,936
Registered: ‎03-30-2012
0

Re: Pre-Approved Offers Flowing Again

I can't wait till my mailbox starts flowing again. My shredder's been feeling neglected lately!

Scores 1/12/2014: TU FICO: 660 | EQ FICO: 665 | EX AMEX FICO: TBD

In my new wallet: American Express Green EMV: PSL $2000 | BankAmericard Cash Rewards Visa EMV: $2500 | BarclayCard Rewards Average: $2000 | Travelocity Rewards AMEX: $1050 | Discover IT: $1500 | Amazon Rewards Visa: $1500 | Chase Freedom: $1500 | Sportsman's Guide Visa: $3000 | Capital One QuicksilverOne MasterCard: $1600 | Target: $700 | J.Crew $9950
Regular Contributor
Posts: 565
Registered: ‎06-12-2010
0

Re: Pre-Approved Offers Flowing Again

I hear you, I actually opted back in after getting approved for cards that are considered prime.  It will be nice to laugh at some of the offers that will surely come my way.  Plus you never know, I may get something from a card I actually want :smileyhappy:


Starting Score: 600ish in 2007
Highest Score to date: EQ 716 May 2012(lender pull)
Current Score: EQ 685 6-21-12 ; Walmart TU Fico 744 6-05-12
Goal Score: 801
Frequent Contributor
Posts: 356
Registered: ‎08-09-2011
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Re: Pre-Approved Offers Flowing Again

I've pretty much got all I want and need, but if a good rewards card comes along to supplement my AMEX BCP, I may just bite.

 

I've entertained a Discover or another of the rotating category cards to beef up the cash back a bit.  My partner and I share an AMEX (he's an AU on my BCP) and use the cash back to fund "mini vacations" every few months.

5/2002 - Chapter 7
7/2011 - Equifax FICO 693
5/2012 - Equifax FICO 812! In the "800 Club!"
2/2013 - Lender-pulled EQ FICO 821 (car loan)
7/2014 - Lender-pulled EQ FICO 832 (car loan)
New Member
Posts: 8
Registered: ‎05-19-2010
0

Re: Pre-Approved Offers Flowing Again

Hello!  I am slowly, but surely getting my score up again.  But I would like to ask how you went from 693 to over 800 in less than 1 year.  Any tips are greatly appreciated!  At one point I paid down all my CC's to a zero balance (total limit of all 5 cards are $3450) but my score still came out to be around 652 at the highest.  I have student loans that will take forever to pay off and a car loan that has 1 more payment to go. But not sure how else to bring my score well over 700 if my CC's are all paid down.  Suggestions??  Thank you!

Established Contributor
Posts: 923
Registered: ‎06-12-2012
0

Re: Pre-Approved Offers Flowing Again

To get your answer you may need to build a time machine, set the dial to 3 months in the past and BLAST OFF!

JP Morgan Select $10k | CSP $10k | Citi TY Premier $15k | BofA 3-2-1 $15k | Chase Freedom $10k | Discover IT $10k | Barclaycard $15k | AMEX SPG $5k | AMEX PRG NPSL | NASA Platinum-Advantage $10k | CapOne Quicksilver $3k | Walmart Card $5k | Amazon Card $10k | Chase Auto 1.49% | Joined myFICO 6/12 with a 540 FICO & today I'm over 750!
Established Contributor
Posts: 504
Registered: ‎08-28-2012
0

Re: Pre-Approved Offers Flowing Again

I opted out a few years ago because I was just getting junk sub-prime offers that I didn't want.

 

Now that I'm back in prime-land, I think it would feel pretty good to get a targeted offer.

New Contributor
Posts: 52
Registered: ‎01-18-2011
0

Re: Pre-Approved Offers Flowing Again

lol. He's in the 800 club now, he no longer has need for us peasants :smileyvery-happy:


Starting Score: MyCreditKeeper - EX:613 EQ:597 TU:640; PSECU EX:629; Walmart TU:631
Current Score: MyFico - EX:666 EQ:675 TU:658 (9/19/13) ; PSECU EX:711 (12/11/13); Walmart TU:696 (12/2/13)
Goal Score: 700+ across


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Established Contributor
Posts: 839
Registered: ‎10-28-2011
0

Re: Pre-Approved Offers Flowing Again


steve23111 wrote:

Today was the moment I've been waiting a long time for... getting pre-approved/pre-screened offers in the mail.  Sounds crazy, I know, but I've actually kind of missed it.  Since filing Chapter 7 in May 2002, I can recall only a few pre-screened/pre-approved offers-- all from Capital One (one for an unsecured credit card and a couple for auto loans -- I already had an auto loan with Capital One at this point).  They were all over 7 years ago.

 

The Chapter 7 fell off the credit reports last month.  I opened the mailbox today and had a pre-approved offer for a Barclay Rewards Card, and a pre-screened offer for a Citi/American Airlines card.  I am not in the market for a new card right now so I shredded both, but I did notice that the Barclay card promoted itself as being a way to rebuild my credit.  With FICO's over 800, I think I've already accomplished that.

 

I think getting these in the mail brought closure to the whole BK situation.  I have rebuilt my credit and am financially stronger than ever.  I know that, and my FICO score shows my achievements, but getting pre-approved offers gives me some mental satisfaction that the tables have turned:  I'm not the one interested in the credit card companies;  they are the ones interested in me!

 

It's all in my head, I know.  Just one of those things.  Thought I'd share it.


I myself am awaiting this point in time for myself...... bk7 in June of 2005...I got a pre approval from Merrick bank yesterday ,but longing for the day to get some REAL  prime offers....

 

congrats


Established Contributor
Posts: 839
Registered: ‎10-28-2011
0

Re: Pre-Approved Offers Flowing Again


steve23111 wrote:

I've pretty much got all I want and need, but if a good rewards card comes along to supplement my AMEX BCP, I may just bite.

 

I've entertained a Discover or another of the rotating category cards to beef up the cash back a bit.  My partner and I share an AMEX (he's an AU on my BCP) and use the cash back to fund "mini vacations" every few months.


steve,

 

How long after your BK did u get your amex BCP????


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