As you can see below, my credit was pretty bad nearly 2 years ago, even worse before that. I have some collections lurking on my CR for another few years, newest bad account is nearing 5 years old, but I've been working to getting it built back up. Ever since I got my most recent car I've received "pre-approved" refinance offers. I bit on the first one that I received, and was told the LtV was too high, and they couldn't do it. I've received enough I've been tempted to opt-out.
I was on the Capital One site the other day and looked at their card finder, and was told that they couldn't find a card right for me. Yesterday i check the mail and I have a preapproval letter from Captial One! I don't plan to take advantage of it just yet as I'm at ~40% ute which I'm paying off around the end of the month, and I would prefer to wait for the new balances to post to my report before applying for anything.
Does anyone know if your chances of getting approved are better with a standing pre-approval offer?
Starting Scores (12/2012):EX 506; EQ 511; TU 518 | Current Scores (01/2016):EX 662; EQ 656; TU 653
