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Best time to apply/get approved...

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Anonymous
Not applicable

Best time to apply/get approved...

I was thinking last night, and I wondered if the best time to apply for a new card is around this time of year, just before the relentless consumption period between Black Friday and Christmas.  See, I probably would NEVER have been approved for a Discover IT unsecured card, and every time I did a pre-qualification app, they said "No, but here's a secured offer for you."  Then, out of the blue, with nothing having changed on any of my credit reports, they pre-qualified and approved me for an unsecured card.  It also just happens to be the quarter where you get 5% cashback on Amazon and at big box stores.  Is there something to this?

Message 1 of 8
7 REPLIES 7
Nayola
Contributor

Re: Best time to apply/get approved...

I don't know the answer, but I am interested in what others have to say.  Interesting theory!

Message 2 of 8
CivalV
Established Contributor

Re: Best time to apply/get approved...

Maybe something changed but it hasn’t updated on your end yet? 

Message 3 of 8
Remedios
Credit Mentor

Re: Best time to apply/get approved...


@Anonymous wrote:

I was thinking last night, and I wondered if the best time to apply for a new card is around this time of year, just before the relentless consumption period between Black Friday and Christmas.  See, I probably would NEVER have been approved for a Discover IT unsecured card, and every time I did a pre-qualification app, they said "No, but here's a secured offer for you."  Then, out of the blue, with nothing having changed on any of my credit reports, they pre-qualified and approved me for an unsecured card.  It also just happens to be the quarter where you get 5% cashback on Amazon and at big box stores.  Is there something to this?


No. 

Message 4 of 8
Anonymous
Not applicable

Re: Best time to apply/get approved...


@Anonymous wrote:

I was thinking last night, and I wondered if the best time to apply for a new card is around this time of year, just before the relentless consumption period between Black Friday and Christmas.  See, I probably would NEVER have been approved for a Discover IT unsecured card, and every time I did a pre-qualification app, they said "No, but here's a secured offer for you."  Then, out of the blue, with nothing having changed on any of my credit reports, they pre-qualified and approved me for an unsecured card.  It also just happens to be the quarter where you get 5% cashback on Amazon and at big box stores.  Is there something to this?


Thanks so much for your question. Smiley Very Happy

 

While folks here in the myFICO forum would be hard pressed

to provide any specific empirical data to confirm your suspicions,

common sense dictates that it's pretty easy to put 2 + 2 together. Smiley Very Happy

 

Black Friday and Cyber Monday are literally just days away.

The holiday season is now in full force. Deals instore and

online abound everywhere. Since the US economy is very much

consumer driven, it's not a stretch to state that American banks

and financial institutions are doing all they can to put as much $$$

into American hands as humanly possible. For what it's worth,

that's just my opinion. But again, thanks for raising the question.

Perhaps other forum members will chime in as well. Smiley Very Happy

Message 5 of 8
PointsBonus
Established Contributor

Re: Best time to apply/get approved...

Data points if possible to go wiht your theory..

 

Following








Message 6 of 8
Anonymous
Not applicable

Re: Best time to apply/get approved...

TU 638

EQ 640 (pulled by Discover)

EX 637

FICO 8 626

Rebuilding, with three 3-year old charge-offs and one 3-year old collection account.  Several 30-60-90-120's.

Income $65k, low rent, low debt-to-income.  Within 12 hours:  Did a pre-qual app -- declined.  Received e-mail from Discover, did another pre-qual app -- approved.  Just got a CO Platinum with $1,000 limit less than two months ago (not yet reporting).

Message 7 of 8
Anonymous
Not applicable

Re: Best time to apply/get approved...

I don't honestly think it has anything to do with the season, something changed on your credit report and I'd assume that that prompted them to give you a pre-approved offer.

Message 8 of 8
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