@Anonymous wrote:
Recent Inquiries, credit utilization ratio ... what does a Creditor not know when making a Pre-Qualifiied offer that when the offer is accepted thatcould lead them to decline issuing the credit??
Good question!
Most prequals are based on information obtained in the past. If and when you accept an offer, a new report is obtained and if there are any changes like....UT %, Inquires, baddies, lost job...etc. it could cause you to fall out of their guidelines for approval.
Also, income plays a part too. Most prequals are based off a snapshot of you credit at that time. (income not included)
Also, sometimes you are preapproved that day and still get denied after completing the application.
I think this happens because some applications are sent for manual review and something they find in your app/CR gives them pause.
Typed this real quick..pls forgive grammar
Hope this helps!
