How do preapprovals work/calculated?

[Anonymous]

How do banks finds offers for you? Or how they see pre approvals for a person? I'm so confused. I've never received a pre approval offer ever. Thanks for any insight!
One side note because of the help from these forums I've been able to bump my scores from 600 across the board in January 2017 to 690 across the board as if today! Thank you everyone!

[Anonymous]

Long story short, banks SP (soft pull) your credit report whenever the want as they're always looking for profiles that are a good "match" for their products.  If they see what they like with respect to your profile, you may receive a targeted or pre-approved offer.  Generally, they're looking for people that appear to be profitable customers but at a relatively low level of risk.  For this reason, you may not see people with poor credit scores getting offers (too much risk) but also may not see people with exceptional credit scores of 750+ getting these offers since they may be viewed as less profitable.  It seems that most people that are targeted with offeres are usually in the fair-good credit score range.  I used to get a ton of offers when my scores were in the mid-600's to low-700's and once above that range I stopped getting them.  If I see one in my mailbox a month now that's a lot for me, when I was in the upper-600's I was getting 3-4 a week easy.

[Anonymous]

---

@Anonymous wrote:

Long story short, banks SP (soft pull) your credit report whenever the want as they're always looking for profiles that are a good "match" for their products.  If they see what they like with respect to your profile, you may receive a targeted or pre-approved offer.  Generally, they're looking for people that appear to be profitable customers but at a relatively low level of risk.  For this reason, you may not see people with poor credit scores getting offers (too much risk) but also may not see people with exceptional credit scores of 750+ getting these offers since they may be viewed as less profitable.  It seems that most people that are targeted with offeres are usually in the fair-good credit score range.  I used to get a ton of offers when my scores were in the mid-600's to low-700's and once above that range I stopped getting them.  If I see one in my mailbox a month now that's a lot for me, when I was in the upper-600's I was getting 3-4 a week easy.

---

+1

I used to get a lot!! Now, most of my scores are hovering around 730 (depending on the supplier) and I have gotten 1 (one) just today, 1st this year, and it was from Barclay (puke). On an up-note, I don't get offers from the bottom-feeders anymore... Is that a good thing?

[Aduke1122]

All I ever get are Credit One , Merrick, and First Premier uuggh , I have gotten my scores form the 400s to mid to upper 600s and still only predators sending offers my way

[Anonymous]

Once I hit 700, the sub-primes stopped.

[Anonymous]

My scores are all hovering in the mid-600's as of today, and I haven't gotten any mailers (even from Credit One and First Premier) in a week or so. Even Discover, which used to bombard me with mailers, is silent (maybe it finally percolated through the system that I have an account with them?)

[Anonymous]

I used to get two mailers a week from Discover four months after I finally got a card with them. That was two years ago.

[nolamike]

Vic,

You should also know that banks buy lists from MyFICO, Experian, TU and EQ as well as Innovis, Amex and other banks. There is also a set of data they by from direct marketing companies and retailers.

What they buy are targeted lists of people who 'might' fit their requirements and some will even do soft pulls to see if more information narrows down the prospects. Then they start with the mailers.

If you have ever opted out with the Direct Marketing Association or with the CRA's you won't get too many offers at all.

If you are rebuilding you will likely get some of the bottom feeders hitting you up frequently. Ignore them.

rebuild slowly and selectively, dont get in a rush. pay on time, pay in full, act like a credit-adult, and you will be fine in a short time.

Make sure you have all three types of credit you need, and if you need to accelerate the process look at Shared Savings Loans.

there is a really good tutorial here on how to leverage those to your advantage by doing things in a certain sequence. (get 500 shared savings loan, then deposit that money in a 500 dollar secured card account. two lines of credit for the same 500 bucks, a credit two-fer).