topic Re: Pre-Qualifications, How Long until They Come in? in Credit Card Applications

Pre-Qualifications, How Long until They Come in?

Anonymous — Tue, 12 May 2015 15:59:01 GMT

On my rebuilding spree, and have made progress as seen in my signature. I was wondering how long can it take to start receiving pre-qualifications in the mail or over lenders' websites? Obviously YMMV, so I'm asking from your experience. My goal is an AMEX card and CSP by October (gardening to hopefully be ready for these cards in October).

I check the websites weekly to see if offers pop up. I have one settled baddie cc debt and one unpaid cc debt each almost seven years old, to give you an idea of my profile.

Re: Pre-Qualifications, How Long until They Come in?

Anonymous — Thu, 14 May 2015 10:42:04 GMT

You just have one credit card? What is the rest of your file like? Do you have a car loan. You may have a better chance applying for capital one first. To maximize your score. You need 3 credit cards reporting less than 30 percent. Wait a year and then apply for the cards that you want.

Re: Pre-Qualifications, How Long until They Come in?

SecretAzure — Thu, 14 May 2015 14:55:22 GMT

@Anonymous wrote:
You just have one credit card? What is the rest of your file like? Do you have a car loan. You may have a better chance applying for capital one first. To maximize your score. You need 3 credit cards reporting less than 30 percent. Wait a year and then apply for the cards that you want.

This^. Generally a year of, even minor, credit healthiness normally bumps your score upwards a lot. I don't know how the unpaid factors in (little experience here, sorry) but I don't see why your scores won't go up in a similar manner as someone with no credit.

You've already got 3 cards OP, sit on them and they will hatch into better credit and better opportunities. I expect the pre-quals to slam your door in 7-12 months. Don't accrue anymore HP's if you can help it and be patient. Also, don't jump at the first pre-qual offer you get (as often times they give you a false sense of hope). The first ones I started getting were Discover It and Amex Charge cards. Discover is very bipolar and often declines and approves people with near identical profiles.

Re: Pre-Qualifications, How Long until They Come in?

Anonymous — Thu, 14 May 2015 15:51:27 GMT

@Anonymous wrote:
On my rebuilding spree, and have made progress as seen in my signature. I was wondering how long can it take to start receiving pre-qualifications in the mail or over lenders' websites? Obviously YMMV, so I'm asking from your experience. My goal is an AMEX card and CSP by October (gardening to hopefully be ready for these cards in October).

I check the websites weekly to see if offers pop up. I have one settled baddie cc debt and one unpaid cc debt each almost seven years old, to give you an idea of my profile.

I still don't get prequals despite my all-star lineup of cards.

I just cold app..

Re: Pre-Qualifications, How Long until They Come in?

SecretAzure — Thu, 14 May 2015 15:55:47 GMT

@Anonymous wrote:
@Anonymous wrote:
On my rebuilding spree, and have made progress as seen in my signature. I was wondering how long can it take to start receiving pre-qualifications in the mail or over lenders' websites? Obviously YMMV, so I'm asking from your experience. My goal is an AMEX card and CSP by October (gardening to hopefully be ready for these cards in October).

I check the websites weekly to see if offers pop up. I have one settled baddie cc debt and one unpaid cc debt each almost seven years old, to give you an idea of my profile.
I still don't get prequals despite my all-star lineup of cards.

I just cold app..

Your infamy procedes you.

While I have you, what does Amex soft pull (for an upcoming CLI I am due for)?

Btw did you ever register to cancel pre-quals?

Re: Pre-Qualifications, How Long until They Come in?

Anonymous — Thu, 14 May 2015 15:58:23 GMT

@SecretAzure wrote:
@Anonymous wrote:
@Anonymous wrote:
On my rebuilding spree, and have made progress as seen in my signature. I was wondering how long can it take to start receiving pre-qualifications in the mail or over lenders' websites? Obviously YMMV, so I'm asking from your experience. My goal is an AMEX card and CSP by October (gardening to hopefully be ready for these cards in October).

I check the websites weekly to see if offers pop up. I have one settled baddie cc debt and one unpaid cc debt each almost seven years old, to give you an idea of my profile.
I still don't get prequals despite my all-star lineup of cards.

I just cold app..
Your infamy procedes you.

While I have you, what does Amex soft pull (for an upcoming CLI I am due for)?

Btw did you ever register to cancel pre-quals?

AMEX always SP EX. Sometimes others.

Also, When I froze my reports I was sent a letter by Experian stating they had added me to an opt out list. I quickly went to opt back in on all bureaus.

Re: Pre-Qualifications, How Long until They Come in?

SecretAzure — Thu, 14 May 2015 16:34:44 GMT

@Anonymous wrote:
@SecretAzure wrote:
@Anonymous wrote:
@Anonymous wrote:
On my rebuilding spree, and have made progress as seen in my signature. I was wondering how long can it take to start receiving pre-qualifications in the mail or over lenders' websites? Obviously YMMV, so I'm asking from your experience. My goal is an AMEX card and CSP by October (gardening to hopefully be ready for these cards in October).

I check the websites weekly to see if offers pop up. I have one settled baddie cc debt and one unpaid cc debt each almost seven years old, to give you an idea of my profile.
I still don't get prequals despite my all-star lineup of cards.

I just cold app..
Your infamy procedes you.

While I have you, what does Amex soft pull (for an upcoming CLI I am due for)?

Btw did you ever register to cancel pre-quals?
AMEX always SP EX. Sometimes others.

Also, When I froze my reports I was sent a letter by Experian stating they had added me to an opt out list. I quickly went to opt back in on all bureaus.

Thanks, this is my healthiest FICO! Good to know. I'm glad you were able to opt back in even though so far nothing has happened lol.

Re: Pre-Qualifications, How Long until They Come in?

CreditCuriosity — Thu, 14 May 2015 18:28:54 GMT

@Anonymous wrote:
@SecretAzure wrote:
@Anonymous wrote:
@Anonymous wrote:
On my rebuilding spree, and have made progress as seen in my signature. I was wondering how long can it take to start receiving pre-qualifications in the mail or over lenders' websites? Obviously YMMV, so I'm asking from your experience. My goal is an AMEX card and CSP by October (gardening to hopefully be ready for these cards in October).

I check the websites weekly to see if offers pop up. I have one settled baddie cc debt and one unpaid cc debt each almost seven years old, to give you an idea of my profile.
I still don't get prequals despite my all-star lineup of cards.

I just cold app..
Your infamy procedes you.

While I have you, what does Amex soft pull (for an upcoming CLI I am due for)?

Btw did you ever register to cancel pre-quals?
AMEX always SP EX. Sometimes others.

Also, When I froze my reports I was sent a letter by Experian stating they had added me to an opt out list. I quickly went to opt back in on all bureaus.

Ya kinda annoying how EXP takes than upon themselves to do this

Re: Pre-Qualifications, How Long until They Come in?

Anonymous — Thu, 14 May 2015 19:27:23 GMT

Most preapproved/prescreened offers that are worth a damn and come by mail are not the best cards unless your scores are over 730 across the board and you have a long established credit history.

My DW just got a Credit One in the mail 15 minutes ago, right to the shredder. We both got Fingerhut books, trash. First Premier, trash. Verve, trash. Scores in the 600's and that is what you will get with a few exceptions.Even the upper 600's is not high enough to attract better random offers by mail.

I did get my Discover card through a preapproved app in the mail, but my file was thin and utilization was low and my score according to them was 727.Since we have a Cap One car loan, they sent preapproved Platinum and later Quicksilver apps.Since my wife and I have been Costco Executive card holders for a number of years I got a prescreened Am Ex card from them approved, and my DW then got a PRG prescreened app in the mail which was approved. Her score was reporting 719 on the approval letter.

So once you get in some internal databases from an account you already have, some preapprovals can come from that, but most creditors of prime cards are looking for potential new customers with prime credit.

Re: Pre-Qualifications, How Long until They Come in?

Anonymous — Thu, 14 May 2015 19:36:05 GMT

After I got my scores up and clean reports it was around 4 months. Now at the 6 month mark I get weekly mailings from Discover and now BOA has sent me a couple as well.

Re: Pre-Qualifications, How Long until They Come in?

Anonymous — Thu, 14 May 2015 19:46:00 GMT

@Anonymous wrote:
Most preapproved/prescreened offers that are worth a damn and come by mail are not the best cards unless your scores are over 730 across the board and you have a long established credit history.

My DW just got a Credit One in the mail 15 minutes ago, right to the shredder. We both got Fingerhut books, trash. First Premier, trash. Verve, trash. Scores in the 600's and that is what you will get with a few exceptions.Even the upper 600's is not high enough to attract better random offers by mail.

I did get my Discover card through a preapproved app in the mail, but my file was thin and utilization was low and my score according to them was 727.Since we have a Cap One car loan, they sent preapproved Platinum and later Quicksilver apps.Since my wife and I have been Costco Executive card holders for a number of years I got a prescreened Am Ex card from them approved, and my DW then got a PRG prescreened app in the mail which was approved. Her score was reporting 719 on the approval letter.

So once you get in some internal databases from an account you already have, some preapprovals can come from that, but most creditors of prime cards are looking for potential new customers with prime credit.

This is a very narrow view of prequalifiers. Perhaps in your own experience this has been the case.

Re: Pre-Qualifications, How Long until They Come in?

Pway — Thu, 14 May 2015 19:56:03 GMT

I have yet to receive one.

Re: Pre-Qualifications, How Long until They Come in?

SecretAzure — Thu, 14 May 2015 20:04:46 GMT

@Pway wrote:
I have yet to receive one.

I noticed in your sig that you have a lot of low-limit CC's (not meant offensively, just an observation). What does your AAOA look like? It could be that you're applying too frequently and appear to have risky behavior as you're getting new cards too frequently for the lenders liking.

My experience with prequals is at first none. Built up a secured cap1 and then started seeing Charge cards (Amex) and Discover It (Student) offers. To this day, these 2 lenders are the ones who throw the most offers at me. Not once have I gotten an offer for Barclay, Chase, BoA, First Premiere, or Fingerhut (this one might just not be in my area?). I've gotten very few from Cap1. I applied very infrequently to cards and currently have good FICO scores all-around.

Re: Pre-Qualifications, How Long until They Come in?

Anonymous — Thu, 14 May 2015 21:08:18 GMT

@Anonymous wrote:
@Anonymous wrote:
Most preapproved/prescreened offers that are worth a damn and come by mail are not the best cards unless your scores are over 730 across the board and you have a long established credit history.

My DW just got a Credit One in the mail 15 minutes ago, right to the shredder. We both got Fingerhut books, trash. First Premier, trash. Verve, trash. Scores in the 600's and that is what you will get with a few exceptions.Even the upper 600's is not high enough to attract better random offers by mail.

I did get my Discover card through a preapproved app in the mail, but my file was thin and utilization was low and my score according to them was 727.Since we have a Cap One car loan, they sent preapproved Platinum and later Quicksilver apps.Since my wife and I have been Costco Executive card holders for a number of years I got a prescreened Am Ex card from them approved, and my DW then got a PRG prescreened app in the mail which was approved. Her score was reporting 719 on the approval letter.

So once you get in some internal databases from an account you already have, some preapprovals can come from that, but most creditors of prime cards are looking for potential new customers with prime credit.
This is a very narrow view of prequalifiers. Perhaps in your own experience this has been the case.

It is my experience. Before my elderly moms credit was compromised by a dishonest lawyer and caregiver, she had an 800 Fico score, and multiple prime offers came in the mail weekly. Now with her score in the upper 680's and me and the DW in the 665-690 range, any credit related mail goes in the shredder.

Re: Pre-Qualifications, How Long until They Come in?

Anonymous — Mon, 18 May 2015 13:36:53 GMT

I appreciate all the replies everyone. My scores have recently jumped up. I now have two scores at least 700, which I'm very happy/proud of. I will continue to age my recently added accounts until I get the pre quals I want or 6-12 months out. I really want the CSP for travel and an AMEX for the simple fact of triple CLI. Sitting tight for now, no rush.

Re: Pre-Qualifications, How Long until They Come in?

Anonymous — Mon, 18 May 2015 17:48:39 GMT

At about 4-6 months, I started getting Credit One mailers, Fingerhut mailers, etc. At ~6 months, I got Capital One pre-quals via the site. At ~8 months, I started getting AmEx pre-quals from the site. Now I get Cap1 and AmEx mailers. But nothing from Citi, Chase, Discover, BoA yet. My scores are still kinda low. So I'm waiting patiently.