topic Re: Dell Preferred Account, WebBank/DFS approval in Credit Card Approvals

Dell Preferred Account, WebBank/DFS approval

lightnut — Sun, 30 Apr 2023 12:43:44 GMT

Hi, I was approved for the Dell Preferred Account card in Nov 2022 and here are my data points. At the time of the application, I had 1 credit union card with a $1000 limit that was opened in 2016 that has 1 30 day late in 2019, and a car loan opened since Mar 2021, always on time. There are 2 charge offs in 2020 that were paid in settlement less than full in 2021 and 1 collection that I paid in full in Oct 2022. I had 1 inquiry at the time, and that was for the auto loan. Also, if it matters, I'm an authorized user on a credit union card from 2002 with an $18000 limit, which gets used maybe once or twice a year for a small charge, but I don't have a physical card.

The limit I was approved for is $4000. They pulled Experian and said my score was 752 in a scoring range of 200-950. I have searched to find out which scoring model this is, and I'm not certain, but the closest I could find is that it ~might be an 'enhanced auto score' (?). Does anyone else know? I do now have the Fico subscription, but I don't see any score that has that range.

The key factors they mention that adversely affected my credit score are below, but I notice they didn't even consider my charge offs or collection in that score. Here they are:

-Insufficient credit data available
-Number of revolving trades with balance activity in last 6 months too low
-Number of bankcard trades too low
-History of all installment trades too low

Hope this data helps others that are interested in applying

Re: Dell Preferred Account, WebBank/DFS approval

JoeRockhead — Sun, 30 Apr 2023 13:06:48 GMT

Nice SL, congratulations on the approval!

Re: Dell Preferred Account, WebBank/DFS approval

lightnut — Sun, 30 Apr 2023 13:48:37 GMT

Thank you

Re: Dell Preferred Account, WebBank/DFS approval

NoMoreDebt — Sun, 30 Apr 2023 13:50:20 GMT

congrats on the approval

Re: Dell Preferred Account, WebBank/DFS approval

lightnut — Sun, 30 Apr 2023 13:53:41 GMT

Thank you as well

Re: Dell Preferred Account, WebBank/DFS approval

M_Smart007 — Sun, 30 Apr 2023 15:49:20 GMT

Congrats on your Dell Approval!

Re: Dell Preferred Account, WebBank/DFS approval

GZG — Sun, 30 Apr 2023 15:54:29 GMT

great approval, congrats!!

make sure to go through rakuten, they often offer 10-12% cash back for Dell

Re: Dell Preferred Account, WebBank/DFS approval

CreditMagic7 — Sun, 30 Apr 2023 16:47:13 GMT

I have this one, Very useful and increases can come automatic.

Congratulations on your Dell Preferred approval!

Re: Dell Preferred Account, WebBank/DFS approval

CreditAggie — Mon, 01 May 2023 03:18:51 GMT

Congratulations on your Dell approval!

Re: Dell Preferred Account, WebBank/DFS approval

alextercero — Mon, 01 May 2023 03:39:37 GMT

Congrats on the approval

Re: Dell Preferred Account, WebBank/DFS approval

MartyWrite75 — Mon, 01 May 2023 21:14:27 GMT

Congratulations on your approval!

Re: Dell Preferred Account, WebBank/DFS approval

MartyWrite75 — Mon, 01 May 2023 21:16:14 GMT

Congratulations! Nice SL!

Re: Dell Preferred Account, WebBank/DFS approval

Beefy1212 — Mon, 01 May 2023 22:44:54 GMT

@lightnut 250 to 900 would be fico 8/9 bankcard which is surprising I thought web bank only uses vantage I know they do on their sub prime "credit builder" cards like petal and Jasper.

all scores that go to 900 are what's called industry enhanced scores and have slightly different algorithms than fico scores you typical see from your bank or a website the traditional scores are often referred to as fico classic.

Re: Dell Preferred Account, WebBank/DFS approval

cashorcharge — Tue, 02 May 2023 02:54:02 GMT

WooHoo!! Congratulations on your Delll Approval!!👏🏼🍾🥂

Re: Dell Preferred Account, WebBank/DFS approval

MileHigh96 — Tue, 02 May 2023 18:31:41 GMT

Congrats on your DFS approval!