topic Re: pre-approval questions in Credit Cards

pre-approval questions

Anonymous — Fri, 29 Jun 2018 22:35:25 GMT

Hi everyone,

I’m new to the boards. After seeing my FICO Scores today they suggest I get a credit card in my name to raise my scores. Currently my FICO Scores sit from 575-622. Where do I start to see what credit cards I’m pre-approved for? I’m totally clueless and have been searching the forum but I’m in information overload at the moment.

Thanks!

Re: pre-approval questions

Anonymous — Fri, 29 Jun 2018 22:42:01 GMT

@Anonymous wrote:
Hi everyone,

I’m new to the boards. After seeing my FICO Scores today they suggest I get a credit card in my name to raise my scores. Currently my FICO Scores sit from 575-622. Where do I start to see what credit cards I’m pre-approved for? I’m totally clueless and have been searching the forum but I’m in information overload at the moment.

Thanks!

Welcome to the forum!

You can start with the Discover, Capital One and Amex pre-qualification

pages. They are soft pulls, so no hard inquiries will be generated on your

reports. That should give you a much better idea of your credit card options

that will help get you off the ground. Please check back with us and keep us

posted on your progress. Good luck!

Re: pre-approval questions

Anonymous — Fri, 29 Jun 2018 22:44:07 GMT

Thanks for the response and pardon my ignorance, but do I just go to each individual website and fill out the pre-qualification?

I certainly will keep you posted. So far this month I’ve had 5 delenquincies from a past divorce dropped from my credit report. Too bad my FICO Scores aren’t the same as my credit Scores! LOL.

Re: pre-approval questions

Anonymous — Fri, 29 Jun 2018 22:49:38 GMT

@Anonymous wrote:
Thanks for the response and pardon my ignorance, but do I just go to each individual website and fill out the pre-qualification?

I certainly will keep you posted. So far this month I’ve had 5 delenquincies from a past divorce dropped from my credit report. Too bad my FICO Scores aren’t the same as my credit Scores! LOL.

The short answer is Yes. Just go to each company's home page

and locate the pre-qualification link. When the pre-qual page pops up,

just fill out the information and it will let you know what cards if any

you are pre-qualified for. Pre-quals are not the same as approvals.

But like I said, this will give you an idea of which cards you're best

positioned to get right out of the gate.

Re: pre-approval questions

Anonymous — Fri, 29 Jun 2018 23:00:03 GMT

Thanks. Looks like I’m preapproved for a discover secured credit card. It’s a start!

Re: pre-approval questions

austingal — Fri, 29 Jun 2018 23:05:56 GMT

I bet Capital One will approve you for something.

Re: pre-approval questions

Anonymous — Fri, 29 Jun 2018 23:09:17 GMT

I tried them and AMEX and neither could find offers for me.

Re: pre-approval questions

Anonymous — Fri, 29 Jun 2018 23:39:15 GMT

@Anonymous wrote:
Thanks. Looks like I’m preapproved for a discover secured credit card. It’s a start!

How right you are. You're off to a great start!

And this might sound redundant, but the key

to a great start is getting started. So please don't

let the fact that Discover pre-qual'd you for a secured

card discourage you in any way. They're giving you a

chance to prove how responsibly you manage credit lines,

so take full advantage of it.

In addition, I recommend that you do a general search in

the forum for the AZEO method to credit card management.

Thanks again for sharing, and please keep us posted on

your progress!

Re: pre-approval questions

austingal — Fri, 29 Jun 2018 23:29:11 GMT

@Anonymous wrote:
I tried them and AMEX and neither could find offers for me.

If you qualify for membership I bet Navy Federal Credit Union would approve you for their secured card. That is what I started with and it unsecured after one year and they have given me auto CLIs to where I now have a $3000 limit. I started with a $500 deposit (I think that's their minimum).

To qualify for membership you need to have some sort of military ties (from any branch) such as yourself, a spouse, parent, roommate etc who either is currently in the military or has been at some time in the past. In my case my dad was in the Air Force as a young man. I have heard of someone qualifying because his uncle (or maybe great uncle) had been in the military at some point and he was able to get a copy of his discharge papers by ordering it online.

This card has a low interest rate for a rebuilder card and it's also a rewards card.

Re: pre-approval questions

Anonymous — Fri, 29 Jun 2018 23:31:29 GMT

Good luck, Alaina.

Re: pre-approval questions

Anonymous — Sat, 30 Jun 2018 00:08:42 GMT

@austingal wrote:
@Anonymous wrote:
I tried them and AMEX and neither could find offers for me.
If you qualify for membership I bet Navy Federal Credit Union would approve you for their secured card. That is what I started with and it unsecured after one year and they have given me auto CLIs to where I now have a $3000 limit. I started with a $500 deposit (I think that's their minimum).

To qualify for membership you need to have some sort of military ties (from any branch) such as yourself, a spouse, parent, roommate etc who either is currently in the military or has been at some time in the past. In my case my dad was in the Air Force as a young man. I have heard of someone qualifying because his uncle (or maybe great uncle) had been in the military at some point and he was able to get a copy of his discharge papers by ordering it online.

This card has a low interest rate for a rebuilder card and it's also a rewards card.

@I agree 100% with @austingal . Navy Fed is an awesome CU if either you or anyone

in your family has any connection with military service or DOD civilian service. The same

also applies to membership with Pen Fed and USAA. Actually, with Pen Fed you don't

have to be current/prior military. They have several ways to qualify for membership.

BTW, if you're looking for another bank pre-qual page, check out Bank of America.

On their home page in the upper right hand corner, type "prequalify credit cards" in

the search bar and then locate the "customized offers" link. If you already bank with

BofA, you can log in. But if not, there's a separate link so you don't have to log in

to receive their customized offers. Hope this helps you.

Re: pre-approval questions

Anonymous — Sat, 30 Jun 2018 00:22:49 GMT

No military in any of my family nor my husbands family, unfortunately. Thanks for the tips though everyone! Really appreciate it. The goal is to be able to finance one of our two vehicles as both are in my husbands name and his DTO ratio is maxed out. We’re currently building a home and while he’s approved, our loan agent said as a back up plan he’d advise me to finance the car in my name. But if worse comes to worse, we’ll just pay it off when the time comes.

Thanks again everyone.

Re: pre-approval questions

Anonymous — Sat, 30 Jun 2018 00:40:16 GMT

@Anonymous wrote:
No military in any of my family nor my husbands family, unfortunately. Thanks for the tips though everyone! Really appreciate it. The goal is to be able to finance one of our two vehicles as both are in my husbands name and his DTO ratio is maxed out. We’re currently building a home and while he’s approved, our loan agent said as a back up plan he’d advise me to finance the car in my name. But if worse comes to worse, we’ll just pay it off when the time comes.

Thanks again everyone.

You are very welcome! Good luck with your new home construction.

BTW, if your goal is to finance one or both of your vehicles, then you can't

beat credit unions. If you have a local CU that you do business with, that's

fine. But if not, going with Pen Fed (no military background needed) is an

absolutely terrific way to get in the door with them. Just give them a call

and explain to them what you're trying to do. I'm willing to bet they'll be

extremely helpful. Best of luck to you and your husband!

Re: pre-approval questions

Anonymous — Sat, 30 Jun 2018 00:40:56 GMT

The vehicle I’m trying to finance is already financed through neighbors federal credit union under my husbands name. So we’d just try to keep the loan through them if they’ll approve me. We shall see!