topic Re: Why am I still getting lousy subprime card offers? in Credit Cards

Why am I still getting lousy subprime card offers?

acercode — Thu, 08 Feb 2024 17:23:15 GMT

I keep getting pre-approval offers from Milestone, Premiere, etc with $200 annual fees. But never from cards I desire like Citibank, Chase or Wells Fargo. I have around a dozen cards with FICO between 670-710. Credit utilization is 20%. I paid off a personal loan recently also. My credit history is about 1.5 years after I went a decade without any credit cards.

So when will I start seeing the good offers?

Re: Why am I still getting lousy subprime card offers?

ptatohed — Thu, 08 Feb 2024 19:31:29 GMT

You may not always get offers for the cards you like nor do you need one. I have never waited for an offer, I have simply applied for the cards I want. Which cards do you have and what cards do you want?

Re: Why am I still getting lousy subprime card offers?

Jeffster1 — Thu, 08 Feb 2024 20:03:28 GMT

I recall getting my first prime offer about 1 year and 9 months after my Chapter 13 DC. However, my first prime cards came long before that. I just didn't wait around for offers.

Eventually, the subprime offers stopped coming in the mail. Best Egg was the most annoyingly aggressive of all.

Re: Why am I still getting lousy subprime card offers?

Horseshoez — Thu, 08 Feb 2024 20:22:39 GMT

@acercode, the only prime offers I've gotten over the last four years were Discover (applied and denied), and AMEX/Delta SkyMiles (applied and denied).

As @Jeffster1 and @ptatohed have said, why wait around for offers; if there is a particular card you want, apply for it.

Re: Why am I still getting lousy subprime card offers?

CYBERSAM — Thu, 08 Feb 2024 21:03:51 GMT

@acercode wrote:
I keep getting pre-approval offers from Milestone, Premiere, etc with $200 annual fees. But never from cards I desire like Citibank, Chase or Wells Fargo. I have around a dozen cards with FICO between 670-710. Credit utilization is 20%. I paid off a personal loan recently also. My credit history is about 1.5 years after I went a decade without any credit cards.

So when will I start seeing the good offers?

I'm going to be as blunt as possible! STOPPPPPP!

I get you are hungry for credit, but you are shooting yourself in the foot over and over! You are currently have WAY too many CCs with most likely toy limits and WAY too many inquires in very short history!

All you needed was one or two starter cards! and your score should have been around 750+ by now, instead you got "dozen cards" that probably not even going to grow.

What can you do? Garden for one year and wait till most of your inquires falloff. By then you should see your score improve, then add ONLY one card, wait another 6 months before adding another decent card.

Credit is not a sprint, is a marathon. You have to prove to lenders that you are responsible and going to pay them back. There is no way you can prove that with 1.5 years history.

Good luck.

Re: Why am I still getting lousy subprime card offers?

CorpCrMgr1 — Thu, 08 Feb 2024 22:54:09 GMT

Unfortunately, you are on their list of potential subprime customers. After a long spell of you not responding these type of offers will go away.

Re: Why am I still getting lousy subprime card offers?

Shooting-For-800 — Fri, 09 Feb 2024 05:38:39 GMT

I get offers for $500-$2500 cards all the time and I have like 25 cards that are $10k+

Ignore them and do not apply for anything that is not SP offer.

Time matters.

Inquiries matter.

GL!