topic Re: Is it worth to apply for a card if you are not prequalified? in Credit Cards

Is it worth to apply for a card if you are not prequalified?

Anonymous — Wed, 27 Aug 2014 18:25:34 GMT

My wife went through the "pre qualify" Cap1 web site and she got a message saying they couldn't match but they based on her answers they recomended to apply for a cap1 platinum.

My question is, does she really has a chance if she is not gettin a prequalification ? Is it possible to not be prequalified and the get the card when you actually apply?

Her TU FAKO Score is 630.

Re: Is it worth to apply for a card if you are not prequalified?

dodgerslv — Wed, 27 Aug 2014 18:30:30 GMT

@Anonymous wrote:
My wife went through the "pre qualify" Cap1 web site and she got a message saying they couldn't match but they based on her answers they recomended to apply for a cap1 platinum.
My question is, does she really has a chance if she is not gettin a prequalification ? Is it possible to not be prequalified and the get the card when you actually apply?
Her TU FAKO Score is 630.

definitely sitll has a chance. Just like still getting denied even though you are prequalified you can get approved not having any card offers.

Re: Is it worth to apply for a card if you are not prequalified?

AvadaKedavra — Wed, 27 Aug 2014 18:32:16 GMT

Out of all my cards the only one I was pre-qualified for was the Citi TY Preferred. Even then, I didn't get an offer in the mail, I checked the website one day because I was bored. So yes, it is possible to get a card even if you're not pre-qualified. What matters more is her credit history. 630 is a bit on the lower side so we'll need more info. Does she have any cards now? How long has she had them and whats the utiilization on them? Any baddies on her report?

Re: Is it worth to apply for a card if you are not prequalified?

Anonymous — Wed, 27 Aug 2014 18:37:03 GMT

I see, she doesn't really have any baddie, she has a secured BOFA card with a 40ish utilization. Other than that, that's it.

Re: Is it worth to apply for a card if you are not prequalified?

Dw4250 — Wed, 27 Aug 2014 18:45:05 GMT

Discover and Chase (Freedom and Slate via pre-qual site) are the only cards I have that pre-qualified me. Most of them I just applied cold turkey. For example, Barclays pre-qual site "could not find an offer for me" so I went ahead and applied for Sallie Mae...instant approval. Same with Arrival+, Cap One Venture, Citi TYP, etc, etc. In fact, every card I have on my siggy except for Fidelity Amex were instant approvals (had to recon FIA to push Fidelity through).

You can get a much better idea if you are prequalified by asking on here! Better yet, pull your credit reports. If you have decent scores and income, low UTIL and your baddies (if applicable) are old old old, you have a decent chance at many cards. Also you can use some sites like whogaveme and creditpulls to get a rough idea of acceptance criteria.

Re: Is it worth to apply for a card if you are not prequalified?

Anonymous — Wed, 27 Aug 2014 18:47:35 GMT

Nice! thanks for the tip !! I wasnt aware of sites like whogavemecredit, looks very helpful, thanks again!

Re: Is it worth to apply for a card if you are not prequalified?

Burned2manybridgesB4 — Wed, 27 Aug 2014 18:48:37 GMT

The only card I have gotten "prequalifed" was the CSP. Everything else was cold app/ no offers.

Re: Is it worth to apply for a card if you are not prequalified?

CreditDunce — Wed, 27 Aug 2014 19:16:04 GMT

@Anonymous wrote:
I see, she doesn't really have any baddie, she has a secured BOFA card with a 40ish utilization. Other than that, that's it.

I am sure you are aware of it, but a FAKO score of 630 cannot be compared to a FICO 08 score. The real score could be higher or lower. She may not even have a FICO score if she hasn't had a CC for 6 months. If she doesn't have a FICO credit score, it is unlikely she will be pre-approved for anything. However, Cap1 will probably be willing to give her something. I just don't know if I would rather have a Cap1 card with an AF or something like a SDFCU secured CC without an AF but also won't graduate.

I would recommend she reduce her utilization before applying. If you have any clean, long history cards, you could also consider adding her as an AU. It may not help, but it won't hurt her at this stage either.

Re: Is it worth to apply for a card if you are not prequalified?

heyarrnold — Wed, 27 Aug 2014 19:19:40 GMT

The cards that I have, none of those I was pre-qualified for lol. You definitely still have a chance

Re: Is it worth to apply for a card if you are not prequalified?

hyprble — Wed, 27 Aug 2014 19:27:15 GMT

I tried the Chase pre-qualify site, and it didn't match me with anything (it claims I could've opted out from offers, but I don't remember doing that). I appd for CSP and was approved.

Re: Is it worth to apply for a card if you are not prequalified?

Dw4250 — Wed, 27 Aug 2014 19:30:56 GMT

@heyarrnold wrote:
The cards that I have, none of those I was pre-qualified for lol. You definitely still have a chance

heyarnold...not trying to hijack the thread, but on your siggy it says you are a 21 year old UC Santa Barbara grad? That's awesome!

How were you able to finish 1-2 years early, if you don't mind my asking? I have a little brother in college right now, but he seems destined for the 6 year plan.... Would love some advice I could pass on to him!

Re: Is it worth to apply for a card if you are not prequalified?

jsucool76 — Wed, 27 Aug 2014 19:33:35 GMT

If I never applied for cards I didn't receive a pre-approval for...I would only have my capital one card. Haha

Re: Is it worth to apply for a card if you are not prequalified?

Anonymous — Wed, 27 Aug 2014 19:39:50 GMT

I haven't applied for any "pre-qualifieds" since the late 90s, and I haven't had that card in a long long time, though its still on my good record as closed. All the cards I have applied for have been pretty much within the last 14 months, and I sought them out.

Im not sure if the pre-qualified to apply applications you get in the mail is the same thing as a pre-qualified to be approved. My understanding is that "pre-qualified" only means you have been pre-screened to TRY and apply.

I have found that unless your on the right mailing lists (usually after applying for credit) you wont normally see pre-qualified messages or mailers for the top end rewards cards with the best APRs and perks. You pretty much need to go searching for those.

Re: Is it worth to apply for a card if you are not prequalified?

Closingracer99 — Wed, 27 Aug 2014 20:10:06 GMT

Out of all the cards I have I only got pre-qualified mailers for the Capital one QS and Discover it cards. Cold apped the rest of mine

Re: Is it worth to apply for a card if you are not prequalified?

chalupaman — Wed, 27 Aug 2014 20:19:47 GMT

None of the cards I have in my sig I was prequalified for. Only one of those I've ever gotten was for some Credit One card and quite frankly I would have never taken that offer.

Re: Is it worth to apply for a card if you are not prequalified?

heyarrnold — Wed, 27 Aug 2014 20:45:34 GMT

@Dw4250 wrote:
@heyarrnold wrote:
The cards that I have, none of those I was pre-qualified for lol. You definitely still have a chance
heyarnold...not trying to hijack the thread, but on your siggy it says you are a 21 year old UC Santa Barbara grad? That's awesome!

How were you able to finish 1-2 years early, if you don't mind my asking? I have a little brother in college right now, but he seems destined for the 6 year plan.... Would love some advice I could pass on to him!

Hey there! I'll PM you

Re: Is it worth to apply for a card if you are not prequalified?

PlasticOrPlastic — Wed, 27 Aug 2014 20:48:27 GMT

@Anonymous wrote:
My wife went through the "pre qualify" Cap1 web site and she got a message saying they couldn't match but they based on her answers they recomended to apply for a cap1 platinum.
My question is, does she really has a chance if she is not gettin a prequalification ? Is it possible to not be prequalified and the get the card when you actually apply?
Her TU FAKO Score is 630.

I've never gottten a pre approval. I did try the pre approval for the Sallie Mae card and got nothing...apped anyway and got instant approval. I'd say if shes needing a card to go ahead and app. Good luck!

Re: Is it worth to apply for a card if you are not prequalified?

Anonymous — Wed, 27 Aug 2014 23:37:55 GMT

What's the prequal site for Sallie Mae?

Re: Is it worth to apply for a card if you are not prequalified?

jamesdwi — Wed, 27 Aug 2014 23:49:26 GMT

I have only been pre-approved for about 2 cards, out of the 16+ major credit cards I have had, pre-approved are rare. you have to match the qualifications they were looking for at the time, maybe you had an AAoA too low, or had too many cards, or got a new cards 6 month ago and they were only looking for people with no new card in 7 months to get an offer that time. If you have no baddies and you meet the other qualifications go ahead and appy you may be surprised... I have gotten 5 digit limits on cards I wasn't pre-qualified for...

Chase Southwester and CSP come to mind, see my signature those cards still have the same CL I got when I openned them.

Re: Is it worth to apply for a card if you are not prequalified?

Andy77 — Thu, 28 Aug 2014 02:35:31 GMT

I was not pre-approved for any Cap One cards and I applied for Venture and got a 20k cl

So, ANYTHING is possible....