Cred Card Prequalifications

[Anonymous]

Basically, if you haven't gotten a pre-qualification offer, or you do get a prequal but it doesn't have a good APR offer (what you need to look for is a single-figure APR, ideally, or one with a small range between high and low, generally 3 to 4 percent), you're rolling the dice when you apply. You might hit snake-eyes and get turned down flat, but then again you might get the boxcars and get approved with a really good SL. For that matter, I've heard of folks who had good-looking prequalification offers who got declined when they actually went to apply, though that's fairly uncommon. All this is a roundabout way of saying that if you're going to apply for a CC, you need to be as educated as possible about your up-to-date FICO scores and the current state of your credit history so that you know what the good spots and bad spots are.

[sjt]

Also poeple could have "Opt-Out" from prescreened offers that prevent them from getting pre-quals.

[Anonymous]

Just for some data points with prequals. I have NEVER been prequalified for a card. EVER. And in the last 6 months have picked up. QS1, BofA Cash Rewards, Amex Everday, Disovery IT, Barclays Apple, Marvel Mastercard and DCU Visa. Zero prequals.