topic Re: Targeted Offers? in Credit Card Applications

Targeted Offers?

jdbkiang — Tue, 04 Sep 2018 03:20:16 GMT

I've found that targeted offers often produce much better results, but I hardly seem to receive any. Does anybody know particular ways of triggering these offers from specific banks?

Re: Targeted Offers?

Anonymous — Tue, 04 Sep 2018 06:30:24 GMT

There is no specific formula for for triggering targeted offers. The only thing you can do is keep a healthy credit profile with on time payments and low utility. That typically wields approvals whether it’s targeted or not.

Re: Targeted Offers?

xaximus — Tue, 04 Sep 2018 16:02:43 GMT

There's many things that factor into getting targeted offers. Relationships matter to banks, age, scores, etc. Based on your sig - your average AAoA looks to be under a year at this point. I would suggest waiting and growing what you have for now and not to worry about getting into other banks.

Re: Targeted Offers?

jdbkiang — Tue, 04 Sep 2018 16:07:54 GMT

Yeah, I definitely understans waiting, but I feel like it takes a while to trigger offers so I figured I’d ask just in case there was something I needed to be doing.

Thanks for the responses—I guess I just need to be patient.

Re: Targeted Offers?

xaximus — Tue, 04 Sep 2018 16:09:35 GMT

Patience would definitely be a good thing. Just keep this in mind - Credit is given to those who don't need it. I have noticed your posts and I would recommend not apping for anything for some time. Too many cards too quickly will cause unwanted attention and possibly lead to negative/adverse action. Give it time and better things will come.

Re: Targeted Offers?

jdbkiang — Tue, 04 Sep 2018 16:17:16 GMT

I do actually use most of my cards and I don’t plan on closing any. While my cards are relatively new and I understand why waiting would help, I’m not sure how applying for more would hurt outside of possibly wasted inquiries. I’ve heard Chase cracking down but I’m pretty much done with getting any more of their cards, and I feel like banks that I’m not currently a customer of would be more inclined to gain another customer who uses their cards responsibly.

Re: Targeted Offers?

FinStar — Tue, 04 Sep 2018 18:43:52 GMT

@jdbkiang wrote:
I do actually use most of my cards and I don’t plan on closing any. While my cards are relatively new and I understand why waiting would help, I’m not sure how applying for more would hurt outside of possibly wasted inquiries. I’ve heard Chase cracking down but I’m pretty much done with getting any more of their cards, and I feel like banks that I’m not currently a customer of would be more inclined to gain another customer who uses their cards responsibly.

The downside to rationalizing the bolded section is that lenders take notice in that too many applications in a short period of time (regardless whether they yield anything fruitful) may look as potentially overextended or desperate. Additionally, if you already have several new tradelines in such a short period there's really no incentive from a prospective lender to place you on their radar (i.e. you may already have sufficient exposure in their eyes).

Re: Targeted Offers?

jdbkiang — Wed, 05 Sep 2018 05:16:29 GMT

@FinStar wrote:
@jdbkiang wrote:
I do actually use most of my cards and I don’t plan on closing any. While my cards are relatively new and I understand why waiting would help, I’m not sure how applying for more would hurt outside of possibly wasted inquiries. I’ve heard Chase cracking down but I’m pretty much done with getting any more of their cards, and I feel like banks that I’m not currently a customer of would be more inclined to gain another customer who uses their cards responsibly.
The downside to rationalizing the bolded section is that lenders take notice in that too many applications in a short period of time (regardless whether they yield anything fruitful) may look as potentially overextended or desperate. Additionally, if you already have several new tradelines in such a short period there's really no incentive from a prospective lender to place you on their radar (i.e. you may already have sufficient exposure in their eyes).

I see. So limiting inquiries would probably help with the targeted offers. Actually, coincidentally, I received 4 different targeted offers today, after not having received any for a while.