topic Re: Checking Prequal Pages Have Any Negative Affect? in Credit Cards

Checking Prequal Pages Have Any Negative Affect?

satio — Thu, 11 Jul 2019 03:46:21 GMT

While a soft pull of course does not affect one's score, do you think the companies themselves track prequal attempts?

So that multiple attempts over some period of time might increase the odds that one is "hungry" for a banking/CC relationship with a particular entity and somehow effect

Re: Checking Prequal Pages Have Any Negative Affect?

FireMedic1 — Thu, 11 Jul 2019 08:51:14 GMT

Doubt it. Some may keep your interest in their product and SP on their own for when you do qualify. Then here comes the mailer. No solid proof. But it would make good business sense.

Then once your in. Speaking of being hungry. Then you have those that have a 25 foot stack of Disco letters (Mines 5 ft) from no CLI for you from insufficient blah blah blah. I wont name names. Cough Cough..............

Re: Checking Prequal Pages Have Any Negative Affect?

Caught750 — Thu, 11 Jul 2019 09:03:44 GMT

Ohhhh me me me...I think 25’ may be under estimating though

Re: Checking Prequal Pages Have Any Negative Affect?

AverageJoesCredit — Thu, 11 Jul 2019 11:42:01 GMT

Lol, surely no one has discovered my penchant for paper trees?

If checking prequals would force a lender to approve someone out of sheer will, this forum would be littered with a million new card holders lol

Re: Checking Prequal Pages Have Any Negative Affect?

Remedios — Thu, 11 Jul 2019 12:51:41 GMT

@satio wrote:
While a soft pull of course does not affect one's score, do you think the companies themselves track prequal attempts?

So that multiple attempts over some period of time might increase the odds that one is "hungry" for a banking/CC relationship with a particular entity and somehow effect

It wont improve your approval odds at all but it might put you in marketing department sights. That does not mean you did or did not meet the criteria for approval, but it might lead to pre-screened offers or something like that.

Re: Checking Prequal Pages Have Any Negative Affect?

Lucifer — Thu, 11 Jul 2019 13:10:33 GMT

Sooooooo.......

Speaking of negative impacts from PreQual Checking and as Remedios alluded to and I can confirm..

Story time....

I had gone years without an app. Years. I picked up a chase card for the 0% and I felt that old familiar rush from apping and getting approved...

But I didn't need a bunch of new credit - so whaty did I do? I PreQual checked with EVERYONE.

Oh yeaaaa.....uhhhhh felt so good. All that luv I was getting - so many PreQuals.

Fast forward to now.

My freaking mail box is filled weekly from everyone I PQ'd with. Like - Citi WILL NOT leave me alone....and others too.

So that's the extent of the negative impact as far as I have seen from my perspective.

Ok...back to lording over lost souls. See y'all latahhhhhhhh

Re: Checking Prequal Pages Have Any Negative Affect?

satio — Thu, 11 Jul 2019 14:13:10 GMT

Thanks for all the feedback on the point.

I didn't expect any data points were being collected ongoing from someone doing prequal checks but thought I would ask the opinions of others.

I'm a "data guy" as one component in my line of work so it would make sense for companies to do that but of course doesn't mean they do.

Re: Checking Prequal Pages Have Any Negative Affect?

Shooting-For-800 — Thu, 11 Jul 2019 16:35:23 GMT

I don't think it matters.

I must have hundreds and hundreds of SPs.

GL!

Re: Checking Prequal Pages Have Any Negative Affect?

Queen_Etherea — Thu, 11 Jul 2019 17:06:56 GMT

@FireMedic1 wrote:
Doubt it. Some may keep your interest in their product and SP on their own for when you do qualify. Then here comes the mailer. No solid proof. But it would make good business sense.

Then once your in. Speaking of being hungry. Then you have those that have a 25 foot stack of Disco letters (Mines 5 ft) from no CLI for you from insufficient blah blah blah. I wont name names. Cough Cough..............

I often wonder what my mailman thinks of me receiving a new Disco, Synchrony, CapOne letter every single day lol. All denial letters for credit line increases.

Re: Checking Prequal Pages Have Any Negative Affect?

NaaryalHead — Thu, 11 Jul 2019 21:58:11 GMT

The cynic in me believes they do grab on to every bit of data for credit seeking. Being in IT doesn't help either as most companies collect far more data than the general public is aware of. Pretty sure that affects lenders' decision making to some extent. This is of course my opinion without proof.

Chase: NaaryalDaddy checed for prequals:

-- Last week

-- The week prior
-- The week prior

-- The month prior

Verdict: hungry, deny cheese.

Re: Checking Prequal Pages Have Any Negative Affect?

Anonymous — Thu, 11 Jul 2019 22:12:36 GMT

It’s free data so of course they use it — in what manner is another story.