PRE APPROVALS IN THE MAIL AND EMAIL

[Anonymous]

Whats goin on everybody. I have a question that I not quite sure about. Ive seen preapprovals in my mail for mths now but its only from subprime banks such as credit one, indigo, etc and anyone else who sdecides to start a bank or lending but never the larger banks. As you can tell from my sigs, I have accounts with a few big banks and most came from cold apps wheni knew my score and files were strong. Back to the end of 2018 where my scores were all low 700's to where they sit now, still no big bank mailer offers. Ive heard about public records and opting in, sign up for different grocery store rewards and so on and so on. Since im getting the small banks mailers, doesnt that mean Im opted in? And I only get email preapprovals from the banks I have now. What am i missing or do I have to hit a certain score bracket?

[Anonymous]

Yes, the fact of consistently receiving offers with the "prescreen notice" means you are opted in.

Nothing really missed at this stage, since the offers are "prescreened" based on certain factors on one's information in credit report. These can be length of history, number and type of accounts one has, revolving limits, utilizations, inquiries, negative items, and a lot more. We don't really know the exacts of screening criteria for each specific lender, though you may expect Amex, Citi, Barclays and Chase, etc. to come when you have reasonable length of positive history.

Instead of passively receiving all those offers, you can always check online at the banks' websites to see if you have anything preapproved too.

[Anonymous]

@PlyrStar93- thats how i got my disco in July. I read on here about mailers from various different banks and was just wondering if i needed to do anything or missed something. but appreciate the info!

[Anonymous]

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@Anonymous wrote:

@PlyrStar93- thats how i got my disco in July. I read on here about mailers from various different banks and was just wondering if i needed to do anything or missed something. but appreciate the info!

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How's your exposure / DTI levels? I see you have AUs reporting. 19 TLs in 24 months + 5 installment loans may be a flag also for the Big Boys. You may want to double up on the bank offers from the existing ones if theyre Brand names like Chase, Disco and definately NFCU. Maybe cut loose the baby CLs youre holding onto. Nothing screams rebuild alert like "Credit One" I'm not knockin cause im a rebuilder. Hey, if I were you I would dance with the one I brought and build heavy with NFCU (Plat/Flagship), Disco, Cap One (Savor/Venture). Can't sneeze at those choices. You already have Chase... whose missing? Amex?

[coldfusion]

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@Anonymous wrote:

And I only get email preapprovals from the banks I have now. What am i missing or do I have to hit a certain score bracket?

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You have 44 HP pretty evenly distributed across all 3 CRAs pver the last 12 months, 5 installment loans, and a collection of mostly low-limit cards. That isn't a profile that prime lenders are going to be highly motivated to extend preapproved offers of credit to as it screams a pattern of aggressive credit-seeking behavior.

You need to stop applying for additional credit and work in general on improving your scores.  If you do that you may start seeing preappovals start to trickle in after 6-12 months.

[Anonymous]

@silversmith- yes, I made a post last week about amex. Even before I racked up the accounts and inquiries, I couldn't get any pre qualify for amex products with higher scores and lower accounts/inquiries. Credit one is definitely getting closed at the end of this mth thanks to people like yourself suggesting it which is why I closed my opensky last mth and my kay jewelers wasn't neccessary. Funny thing is about credit 1 is I would've closed it this mth but om the day after my due date they charged me with a au charge for my wife being on the card after my auto pay posted so it reported with a balance of $10. But definitely closing this mth after it post 0.

[Anonymous]

@confusion - yes I'm not to concerned with right now. I'm in the garden for at least till next summer since I added so many account this year. I was mainly talking about before I racked them all up. Outside the big banks i have now i never recieved mailers from non account big banks but maybe in the time of gardening that'll changed but I'm not worried. NFCU has my attention now so next mth I'll see how I stand to app for the 2nd cc but that's the last Hp I'll get for long time.

[Anonymous]

Definately slow your roll if youre looking to add another Chase anytime soon (5/24) unless you already blew past that. Even so, like you said NFCU is the heavy hitter next up to bat. No one crushes harder than old Navy. Surprised you didnt go 3 for 3 with BBT.  I know if they offered those SP Approvals in all 50 states they would have ran out of plastic and started handing out I.O.U's  You may even want to think about letting go of some of the AU's once NFCU blesses you to clean up your profile a bit (space wise). Your foundation is looking pretty solid. I dont think you need the lift like you did earlier in the build/rebuild.  

[Anonymous]

Honestly I thought about it but I dont see anything else on chase cc line up that particular pops out at me that I wont get in my SP and my FU. So the 5/24 is not in my eyesite at least for a year or 2. Bbt did offer all 3 but when I saw my second card match the sl on my 1st card, I said to myself 2 is enough. Mainly the AUs was because my file is so thin. I didnt get my first card till I was 32(now 35) so I needed the history and padding of course. But like I stated before my next 3 HP in the next year will definitely have NFCU attached to it in my CR. Not goin hard on the apping any more, learned my lesson with that one as my scores dropped! Lol