BoA and Discover prescreen then declined!

Anonymous · ‎08-29-2016

Well that's frustrating. What a waste of two hard pulls. I was approved for Wayfair at $2,500 through the SCT though! Yay!

Pway · ‎08-29-2016

Discover pre qual site is not accurate at all. I put in my dog name and it comes up with a pre qual offer. However, Disover is one of the picky lenders, some profiles they like and others they don't. I don't know much about BOA. I don't have none of their products.

Thank you for the wealth of knowledge I have learned from these forums. I am logging off as of November 9, 2022. I wish everyone great success.

Anonymous · ‎08-29-2016

BOA pulled my credit and approved me for a secured credit card I sent $500.00 and their annual fee of 99.00; they sent me a letter and told me that they could not accept my initial payment because I sent a business check and asked for a replacement, I sent the replacement, they did another hard inquiry and told me I did not qualify for their secured card, because of my previous chapter 13 bankruptcy; which they were included. What pissed me off was the second inquiry, because the bankruptcy was there when they pulled the first inquiry.

mattmyFIC0 · ‎08-29-2016

Don't feel too bad. Discover doesn't like me either. I can get all these cards with all these different lenders but Discover just won't budge (not even secured LOL)

Scores 01/04/2017: EQ 719, TU 750, EX 716
Goal scores: 740 across the board

RobertEG · ‎08-29-2016

The FCRA governs prescreened offers for credit only if the offer was made based on their having obtained your name from a CRA based on thier submission of screeing criteria to the CRA. Such offers are required to be a "firm offer for credit" that the creditor must offer if the consumer applies and their credit report then shows that they continue to meet the specified screening criteria.

If the prescreening was done at an internet site or via any other process such as a so-called SCT, that does not qualify the offer as a "firm offer for credit" that must be granted.

Anonymous · ‎08-29-2016

Wow, that's good to know. Thank you! I had a prescreen from another CC and that was approved so now I have three CCs and one store card, so that should be good.

Should I let the store card report a small balance or not? I'm planning to keep my three CCs and two reporting zero and one was a small, under 9% balance.

Anonymous · ‎08-29-2016

That was some awful auto correcting. Two CCs reporting zero, one with an under 9% balance.

Just not sure how to best leverage a store card.