topic Re: Sam's Club Credit in Credit Cards

Sam's Club Credit

armymom — Thu, 06 Aug 2009 03:39:35 GMT

Today I received an app saying I have been "pre-qualified" for a Sam's Club Advantage Member credit account. How can Sam's pre-qualify me if I haven't provided my SS? Or is this their way of just soliciting an account without having done a soft pull?

I would consider applying but I'm not sure I would qualify. My TU CR is clean. EQ and EX still show three CO's that will fall off by October. I have no lates but util is at 65%. My CS are 571 EX(fako), EQ 611 and TU 666. What would my chances be of getting approved? Thanks in advance for your input.

Re: Sam's Club Credit

Anonymous — Thu, 06 Aug 2009 04:54:45 GMT

Issuers will ask a CRB to provide them with a list of people who fit certain criteria - a target market for their CC product. Normally that list would contain the names of people who would likely be approved for the card offered. (Why go to the cost of mailing you if otherwise?) When your credit is accessed in such a way it is recorded as a soft INQ (Promotional Inquiry). FYI - these marketing runs are done for products other that credit. I have promotional inquiries on my TU report from SourceOne Automotive (warranties) and The Travellers (insurance/financial).

As for your personal situation: While you fit the criteria they are looking for, I would wait the few months until your baddies fall off and them app with your best foot forward. You will get better results.

Re: Sam's Club Credit

Anonymous — Thu, 06 Aug 2009 19:02:25 GMT

I have a corporate Sam's membership through my office... and there is a Sam's location down the street from my condo, so I got the CC just to use to pay for gas (usually cheaper there). Anyway, I started w/ a $1,000 credit limit which is fine for gas - it always has a $0 balance. But a few months ago they lowered my limit to $100. Seriously, what is the point of that??? I would close it, but w/ all the other cards being closed or lowered, I need to have some available credit for utilization purposes!

Re: Sam's Club Credit

armymom — Thu, 06 Aug 2009 23:59:45 GMT

As for your personal situation: While you fit the criteria they are looking for, I would wait the few months until your baddies fall off and them app with your best foot forward. You will get better results.

My gut feeling tells me not to app now also. I don't want to waste an inquiry if I don't feel like I'll be approved. The only reason I was even considering was just to improve my utilization for future cards. My next card to app for is Amex green or Citi AAdvantage but that won't be until early '10 after my util is down and CO's are off.

Re: Sam's Club Credit

marty56 — Fri, 07 Aug 2009 16:44:17 GMT

I have had a Sams card for about 6 years now. great card. It started at 300 and its now at 4100. Forget the interest rates and just PIF unless they offer 0% on a major purchase which they do from time to time.