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Understanding what Issuers may require from Bureau's when ordering mailing lists for pre-approval?

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Nychuck
New Member

Understanding what Issuers may require from Bureau's when ordering mailing lists for pre-approval?

3 AU accounts are the only trade lines that brought a previously bad bureau reports littered with charge-offs which came off by statute and resulted in today’s FICO Score 8 of 784.

 

In October 2015 the last of several charge-offs came off my bureau’s by statute. I have been an AU on one of wife card(s) $11.5 for several years. We added two more AU accounts since then in the past six months which brought total line(s) to $27k. Numerous FAKO reports showing 780-800 range past several months. 30-year oldest account. 13% Utilization. One AMX account in good standing issued in 1987 closed in 2006 by customer is the only other trade line showing. The EQ FICO simulator today stated that the only accounts being reported are AU, and is issue for score further improving. 

 

The issue is in the past 6 months I have only received two mail offers, Cap One and a Discover.at 20%. Wife, who has 709 FICO, gets same Discover offer but at 12-16% and a 12-month balance transfer offer included in her offer. Discover, in first offer to me, did not have balance transfer offer but two weeks later was included and reduced to 19.5%.

 

When I went sour in 2008 most major issuers including Cap One & Discover took hits. Several retail cards charged off also. I did not file BK. Thus I wouldn't expect issuers to be jumping through hoops with offers. 

 

My concerns lie with future approvals. Because my bureaus only show 3 AU accounts, I was thinking about adding an installment passbook savings loan secured by the account to broaden the account mixture. Also, applying  for retail cards like NTB/Tire Kingdom, Victoria's Secret, etc. cards where one is instantly approved at the customer service counter or register.

 

While the score is high I am worried that if an underwriter sees the account mixture as I have described or is alerted somehow by an algorithm that alarm bells are going to go off; particularly if I apply for any major cards that were not previously charged off.

 

Does anyone know the criteria card issuers use when doing mailings? It appears they don't go by score alone or I certainly would have received more offers. While issuers who were previously burned probably cross reference before the mailing, what other criteria may they or others request that would exclude me?

 

Can anyone make any suggestions what I may do?

 

I hope this post enlightens others who had questions about AU. They definitely increase the score provided it’s an immediate family member is the primary card-holder.

 

 

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