@jcooks wrote:Those specific details would be provided to you when they do a hard pull. Can't expect a full detailed analysis of your credit and reasons why you didn't pre-qualify based off a soft inquiry.
Why not? If the soft pull shows them something that despite my great credit disqualifies me from pre-approval why not reveal it to me without doing damage to my scores?
@Anonymous wrote:
@Crowhelm wrote:It just is insane to even think for one second I would be interested in that. And quite frankly if I would be that insane and apply they should decline it because that is a red flag in my opinion.
Their secure card is their default option. "Don't qual for anything else? If you REALLY want discover card, take this one."
It seems like you took their decision personally.
LOL, last year Discover wouldn't even approve me for a secured card.
@Anonymous wrote:
@Crowhelm wrote:It is always personal and anybody saying it is not is just fooling themselves. Even as a teen I already rejected generalizations because all it is is laziness of the other party to really get to know you. Instead of making the secured card the default it should have said due to recent inquieris on your report you are not pre-qualified for any of our cards at this time. Please check back at a later date since your credit score overall is high enough to qualify without too many recent inquiries. I think all of us should demand way more courtesy from financial institutions and transparancy. In that regard credit unions way outperform any major bank in this country. Only small local banks have similar great customer service. Also look who is offering the best unlimited cash back card, at credit union.
Financial institutions aren't in place to stroke one's ego. Lending decisions are a business decision, like it or not. They aren't in the business of letting you down easy or offering a participation trophy, so to speak.
Oh, and credit unions don't practice the suggestions you pose either. Hope your next denial from a CU isn't so tough on you.
Not to make light of the conversation, but I kinda LOL'ed for real.....if people got participation trophies for denials, there would be A LOT of trophies posted on myFICO right now. +1 for that...
These institutions certainly don't stroke egos. I admit, I even get a little butt-hurt when I'm denied a CLI (talking to you Citi). Honestly, I'm not sure what the OP's grievance is really for. They haven't applied, haven't been denied. And evidently, Discover doesn't really appeal to them. So what's the issue? The choice to apply is there for them if they so choose to do so, and the forum offers plenty of DP's on Discover for them to make an educated decision. There are a lot of cards out there on the market, just saying....
On Deck: No Plans Currently
@Taurus22 wrote:
@Anonymous wrote:
@Crowhelm wrote:It is always personal and anybody saying it is not is just fooling themselves. Even as a teen I already rejected generalizations because all it is is laziness of the other party to really get to know you. Instead of making the secured card the default it should have said due to recent inquieris on your report you are not pre-qualified for any of our cards at this time. Please check back at a later date since your credit score overall is high enough to qualify without too many recent inquiries. I think all of us should demand way more courtesy from financial institutions and transparancy. In that regard credit unions way outperform any major bank in this country. Only small local banks have similar great customer service. Also look who is offering the best unlimited cash back card, at credit union.
Financial institutions aren't in place to stroke one's ego. Lending decisions are a business decision, like it or not. They aren't in the business of letting you down easy or offering a participation trophy, so to speak.
Oh, and credit unions don't practice the suggestions you pose either. Hope your next denial from a CU isn't so tough on you.
Not to make light of the conversation, but I kinda LOL'ed for real.....if people got participation trophies for denials, there would be A LOT of trophies posted on myFICO right now. +1 for that...
These institutions certainly don't stroke egos. I admit, I even get a little butt-hurt when I'm denied a CLI (talking to you Citi). Honestly, I'm not sure what the OP's grievance is really for. They haven't applied, haven't been denied. And evidently, Discover doesn't really appeal to them. So what's the issue? The choice to apply is there for them if they so choose to do so, and the forum offers plenty of DP's on Discover for them to make an educated decision. There are a lot of cards out there on the market, just saying....
I find it interesting how many people take offense when somebody like myself expects better service from a bank or financial institution. I wasn't even planning to apply, it was more a double check what they offer compaired to others. 5% cards unless unlimited really don't appeal to me that much because I don't want to play the credit card shuffle. If Discover is smart along wirh other banks they have somebody on these boards to figure out what people are looking for. So in a way I am helping them by pointing out sonething they could do way better.
@Crowhelm Hey, I'm certainly not offended by anything. Just pointing out like others have mentioned that these lenders are in the market to make money, and they do so by offering cards most myFICO'ers would consider "less than desirable". Higher risk applicants with short or thin profiles, less than stellar payment histories, etc are what keeps lenders in business. They aren't making money by catering to those who PIF each month and myFICO'ers who are more credit-savvy.
Sure, the suggestions you've made might indeed make it a better experience for the consumer, but it is highly unlikely that the lenders would be trolling the myFICO forums to improve marketing processes. If you're just using Discover pre-quals as a tool to gauge their affinity for you personally, I honestly think that's fairly unreliable. Recently, many people have been doing the same with the FNBO Evergreen pre-quals. Then when they apply, they receive much lower limits than the pre-qual stated, and some are even denied altogether.
If your profile and scores warrant a card, there shouldn't be issue getting it. But Discover and other lenders put a lot of market research into what works for them from a business aspect. Fact is, we are piglets while the lenders are wolves.... looking for the little pig who makes his house (profile) with straw, rather than brick.
