Do Pre-Qual Sites have memory?

Anonymous · ‎01-04-2016

My Eq score has increased and I am waiting for the other CBs to join in

Can I use the pre-qual sites to identify when the updates happen? The score swing is significant enough to go from no to yes. I cant imagine doing daily pre-qaul would have a negative effect but better to ask the experts before doing something stupid.

I am going to spend the yuppie bucks to pull the 3B when I know its there. I know I should just wait a week and pull but I cant seem to help myself.

Anonymous · ‎01-04-2016

😀 Great question! Following! I am wondering the same thing. My TransUnion score went up 73 points this month, Experian score 52, Equifax 51. I went and did the prequals again after already doing them earlier this month and didn't have any. It makes me feel like they are using old soft pulls, instead of new ones. I'm wondering how often they actually do a soft pull if you ask more frequently. I can't imagine that I'm not pre- qualified now at least for something. I want to try again but I don't want to start looking crazy lol

Anonymous · ‎01-04-2016

Yes, most do. Using cached reports and/or internal data from previous sessions. 30-90 days is typical, though if one checks frequently, the update cycle may be on the shorter side. From all my experiences, it doesn't hurt to check frequently. Sometimes, one gets lucky. However, on the same token, if a pre-approval / pop-up appears, act on it immediately, because it may not reappear for awhile. More of an issue with shopping card trick (ie. Overstock, Express, etc) than regular cards.

Anonymous · ‎01-06-2016

What is shopping card trick I keep seeing

Anonymous · ‎01-07-2016

Search the forums for SCT.

My Amex prequal from Nov-Dec is gone. Cap1 had no prequal yesterday, I did ask for a CLI on my 6 mth old QS1 instead. Denied. Zero balance with no late payments. Go fig.

This morning I have prequal for Venture at 18% and V1 17%.

i prequal once a week. It's like a slot machine to me. I do think they update, but only if you play them like slots.

Anonymous · ‎01-07-2016

Shopping cart trick is bascially when you add an item to your shopping cart, go to check out, and you get the little box that pops up and says you're pre-approved for this Overstock, Victoria's secret, Jcrew, whatever store it may be. When these pop up they are typically a soft pull on your credit report which is the reason everyone likes them. Some stores are more famous for this than others. There are a couple of threads with lists of stores/ cards that do it. You just need to make sure you opt in to pre screened offers. :-)

syeb · ‎01-07-2016

Speaking of pre-qual sites having memory, I wonder if a particular CC issuer may think about AA if you keep hitting up their prequal checker? Looks a little risky (i.e. actively seeking credit).

CreditCuriosity · ‎01-07-2016

@syeb wrote:
Speaking of pre-qual sites having memory, I wonder if a particular CC issuer may think about AA if you keep hitting up their prequal checker? Looks a little risky (i.e. actively seeking credit).

No this doesn't hurt you at all... Pre-qualifies are just marketing nothing more. Yes they might SP your credit or get a feed from CRA's to bounce against their databases if you meet certain criterias, but it will only impact you if you apply and are "truely" seeking new credit.

Anonymous · ‎01-07-2016

I can't see why a CCC would consider AA for checking pre-qual sites. Inquiries and new accounts, sure...but pre-quals? I don't see the logic.

syeb · ‎01-07-2016

@Anonymous wrote:
I can't see why a CCC would consider AA for checking pre-qual sites. Inquiries and new accounts, sure...but pre-quals? I don't see the logic.

I would say the same logic as inquiries. It shows that the person is actively looking to increase credit or open new lines. If one was not looking for new credit, one would likely not be checking for prequals. Perhaps not exactly the same as an HP inquiry but still there.