topic I'm FINALLY getting credit card offers in the mail!!! in Credit Card Applications

I'm FINALLY getting credit card offers in the mail!!!

Anonymous — Fri, 20 Jul 2018 16:09:51 GMT

20 days after all my scores improved from nothing into the 700's, I received my first credit offer. This is from Discover for their IT card. Nothing in the letter says "Pre Approved" but it does have that "Invitation number". Does this mean I'm pretty much a shoe-in for this card? Which score will get pulled? The website pre-qual has the cashback and the chrome listed for me.

Also, I'm 10 days away from closing on my home so Im waiting to apply for anything. I've been wanting to get a discover card and a AMEX Everyday or Blue Cash for my beginning prime cards. Should I apply for one before the other?

My scores below are still accurate.

Re: I'm FINALLY getting credit card offers in the mail!!!

xaximus — Fri, 20 Jul 2018 16:13:54 GMT

Congrats on the house and pre-approval! Usually the CC offers are similar to having a pre-qualified offer. I would check out the Disco pre-qualify page just to see what comes up. With your scores being in the 700's, I would say you have a high chance of getting approved and Disco can hand out relatively large CL's as well.

Good luck!

Re: I'm FINALLY getting credit card offers in the mail!!!

Anonymous — Fri, 20 Jul 2018 16:17:53 GMT

@xaximus wrote:
Congrats on the house and pre-approval! Usually the CC offers are similar to having a pre-qualified offer. I would check out the Disco pre-qualify page just to see what comes up. With your scores being in the 700's, I would say you have a high chance of getting approved and Disco can hand out relatively large CL's as well.

Good luck!

Thanks for the reply. I can't wait until after this closing so I can go ahead and take advantage of a good offer!

Re: I'm FINALLY getting credit card offers in the mail!!!

Anonymous — Fri, 20 Jul 2018 16:31:28 GMT

Just the other night I wondered out loud when I would start getting mailers now that my scores have improved. The very next day I got a pre-approval offer in the mail for a $400 CL from Montgomery Ward. ( I tossed it.)

Guess the Credit Gods have a sense of humor...

Re: I'm FINALLY getting credit card offers in the mail!!!

Anonymous — Fri, 20 Jul 2018 16:34:06 GMT

@Anonymous wrote:
Just the other night I wondered out loud when I would start getting mailers now that my scores have improved. The very next day I got a pre-approval offer in the mail for a $400 CL from Montgomery Ward. ( I tossed it.)

Guess the Credit Gods have a sense of humor...

Wow lol. I figured I wasn't on anyone's pre-approval lists because just a month ago, I didn't even have fico scores for TU and EQ. I just wondered how long it would be before they'd come.

Re: I'm FINALLY getting credit card offers in the mail!!!

xaximus — Fri, 20 Jul 2018 16:40:42 GMT

@ missliz - LOL! Credit Gods can be sarcastic at times.

@ Bigdaddy003 - Usually pre-approvals start coming once certain criteria is hit, then its pretty constant. I must have gotten 20 pieces of mail from Discover for the IT card. At one point, I had every color in the Skittles rainbow. I finally gave up and decided to app and was approved.

Re: I'm FINALLY getting credit card offers in the mail!!!

Anonymous — Fri, 20 Jul 2018 16:47:57 GMT

@xaximus wrote:
@ missliz - LOL! Credit Gods can be sarcastic at times.

@ Bigdaddy003 - Usually pre-approvals start coming once certain criteria is hit, then its pretty constant. I must have gotten 20 pieces of mail from Discover for the IT card. At one point, I had every color in the Skittles rainbow. I finally gave up and decided to app and was approved.

Hey what kind of starting balance did they give you?

Re: I'm FINALLY getting credit card offers in the mail!!!

xaximus — Fri, 20 Jul 2018 17:41:26 GMT

My starting SL was $13k.

Re: I'm FINALLY getting credit card offers in the mail!!!

Anonymous — Fri, 20 Jul 2018 17:46:06 GMT

@xaximus wrote:
My starting SL was $13k.

That would be way more than I need! I just need a card I can use everyday.

Re: I'm FINALLY getting credit card offers in the mail!!!

coldfusion — Fri, 20 Jul 2018 17:49:41 GMT

After you've received several of these you'll get a sense of what to look for.

1) If the phrase used is closest to "offer to apply", "you're pre-qualified", "you're pre-approved", or "you're approved"

2) Whether or not there is an opt-out message advising you of your right to stop receiving pre-screened offers

3) if you're quoted a wide range of interest rates, a narrow range (roughly 3% or less), or a fixed rate

A mailed approval is a firm offer of credit. Those aren't particularly common but they do exist.

A pre-approval or a pre-qualification with opt-out language and fixed interest rate is not a shoo-in but has the best odds of success, assuming there hasn't been a dramatic recent change in your credit profile. The odds of success however are not consistent across issuers, for example an AMEX pre-approval is closer to a guarantee than a BoA pre-qualification. If in doubt regarding a particular issuer search here for relevant threads of prior experiences.

Offers to apply with a wide range quotes for rates and no opt-out language are of the least value. Take those with a grain of salt, even if they have an application code.

Re: I'm FINALLY getting credit card offers in the mail!!!

Anonymous — Fri, 20 Jul 2018 18:02:32 GMT

@coldfusion wrote:

After you've received several of these you'll get a sense of what to look for.

1) If the phrase used is closest to "offer to apply", "you're pre-qualified", "you're pre-approved", or "you're approved"

2) Whether or not there is an opt-out message advising you of your right to stop receiving pre-screened offers

3) if you're quoted a wide range of interest rates, a narrow range (roughly 3% or less), or a fixed rate

A mailed approval is a firm offer of credit. Those aren't particularly common but they do exist.

A pre-approval or a pre-qualification with opt-out language and fixed interest rate is not a shoo-in but has the best odds of success, assuming there hasn't been a dramatic recent change in your credit profile. The odds of success however are not consistent across issuers, for example an AMEX pre-approval is closer to a guarantee than a BoA pre-qualification. If in doubt regarding a particular issuer search here for relevant threads of prior experiences.

Offers to apply with a wide range quotes for rates and no opt-out language are of the least value. Take those with a grain of salt, even if they have an application code.

Ok this is great info. I don't have the letter with me to see if the interest range is wide, narrow, or fixed yet (the letter is at home). However, I did go to discover's pre-qual site and clicked "respond to a mail offer?" and then clicked "Can't find your invitation number?" and screen comes up for me to fill out my name and last 4 of my ssn only.

The header on the next screen reads: "Bigdaddy003, how does your credit card stack up?" with an apply now button underneath. Its basically a page that's comparing the Discover IT cash back with 5 other cashback cards.There are only wide ranges on this page.

I went on and filled out the regular pre-qual page and it does have a fixed rate on there.

Re: I'm FINALLY getting credit card offers in the mail!!!

xaximus — Fri, 20 Jul 2018 19:49:35 GMT

If there is a fixed rate there, then there's a strong chance that you are approved for it and just have to "verify" it. In other words, if you accept, you have a pretty close to guarantee in getting the card. I would do it.

Re: I'm FINALLY getting credit card offers in the mail!!!

Caught750 — Fri, 20 Jul 2018 20:32:42 GMT

I would jump on that after closing. Discover has been absolutely great to me!

Re: I'm FINALLY getting credit card offers in the mail!!!

Anonymous — Fri, 20 Jul 2018 20:36:41 GMT

@Caught750 wrote:
I would jump on that after closing. Discover has been absolutely great to me!

I agree with you on that. I'm only going after the cards that say I'm preapproved. AMEX, Discover, and cap 1. Chase and Citi aren't really my friends right now so I'll catch them in a few years I suppose. Cap 1 is only giving me pre approvals for the QuicksilverOne and the Platinum. Well I already have the Platinum secured which will one day be unsecured (I guess) and the quicksilverone has a $39 annual fee(nope). Also Cap wants to give everybody 3 inquiries. I'll pass on that for now.

That just leaves amex and disco...

Re: I'm FINALLY getting credit card offers in the mail!!!

Caught750 — Fri, 20 Jul 2018 20:39:09 GMT

The last few lines read my mind. If you have Amex and Discover don't play the Cap1 game. They were my rebuild card but you don't need that.

Re: I'm FINALLY getting credit card offers in the mail!!!

Anonymous — Fri, 20 Jul 2018 21:10:45 GMT

@Caught750 wrote:
The last few lines read my mind. If you have Amex and Discover don't play the Cap1 game. They were my rebuild card but you don't need that.

I guess I've made my decision then! Thanks for the great advice!

Re: I'm FINALLY getting credit card offers in the mail!!!

Caught750 — Fri, 20 Jul 2018 21:14:40 GMT

I DMed you

Re: I'm FINALLY getting credit card offers in the mail!!!

Anonymous — Fri, 20 Jul 2018 21:54:14 GMT

@Caught750 wrote:
I DMed you

I responded!

Re: I'm FINALLY getting credit card offers in the mail!!!

Anonymous — Sat, 21 Jul 2018 04:51:14 GMT

I would say look for the FCRA opt out language. It is not a guarantee, but it means they are making a firm offer of credit based on the credit file they pulled at the time it was mailed. Barring major changes, they likely will through at least mickey mouse limit at you.