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04-13-2017 12:26 PM
You can go through the entire process at a bank without actually applying or hitting the "Submit" button.
Well, that very much depends on what part of the process is of interest. Stuff like "how long did it take to get the card", "Were the documents that came with the card clear", "Were you notified when to expect a decision?" etc are certainly part of the customer experience and cannot be done without actually applying
04-13-2017 01:17 PM
I would only do it if it was a card I had some interest in keeping. Otherwise, there are other cards I'd rather save my hard inquiries for, and it's not difficult to find sign-on bonuses that beat out the $200 being offered (with some spend). I guess that would be another possibility, if you want the $200 but can't meet the minimum spend for sign-on bonuses.
04-13-2017 01:20 PM
I'd take a hard hit from Mike Tyson before I took one on my credit report.
04-13-2017 01:58 PM
Nope, not for 200.00. I put a dollar value on my inquiries a few years ago and decided If it isn't going to net me 300 to 400 dollars it's a no go for me. I forget how I came up with that number, but it wasn't arbitrary. Doing so makes it easier to walk away from some of the deals.
04-13-2017 02:00 PM
I would have use for the card if I received it.
Currently 19 years old so no mortage/car purchases coming up.
I figured since I'm only 19, the hard will fall off before I'm 21 anyways...
What do you guys think? Should I?
04-13-2017 02:01 PM
I am required to go through the entire process to assess the bank's procedures for new cards.
04-13-2017 02:27 PM
For me it's more about AAoA than HP. Any account with a nice bonus or a card I actually want, or that would have a decent limit that could later be combined is worth a HP and AAoA hit to me. Basically as long as there's a use it's worth it. Vs saying taking 200 for a card you don't want and plan to close and can't transfer the limit in the future.
04-13-2017 02:29 PM
My credit file is still thin so AAoA is not a big deal right now - still building....
I don't have intentions to close the card
04-13-2017 02:34 PM
I work for a mystery shopping company that specializes in banks etc
I'm being offered $200 to go apply for a credit card at BoA - basically I would go apply and write down a lot of details about the process I went through and the service I was provided - it's so the bank can improve their customer service. The company has paid me before so they are not a scam.
Would you guys take a hard hit for $200? My profile is squeaky clean with 4 credit cards and my EX has 7 hard inqs right now.... FICO 710-730 across the board.
If I was going to scam someone, I might well pay them a few times to get their confidence, then require them to do things that would reveal all of their permanent personal data, enough data to steal a bunch of money off them. If not now, then in 10 years or so when they have more money to steal.
That is, if I was the sort to scam someone.
It also occurs to me that you should be able to apply with completely bogus data. You would of course be denied the card, but you would reveal no personal data, and would have tested out the process. Or they should be able to give you fake data from the bank that would pass the initial stages but would require additional identity verification, which would allow the bank time to cancel the application. That is, if a bank were dumb enough to ask outside companies to hire people to 'test' the application process, when they can easily do so themselves using interns.
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