Prequal sites how current is the data being used to prequal?

[boober]

Hello

I'm about to do a little app spree in a couple of weeks, and my scores should go up a good 40-50 points or so when I'm ready. But I'm just wondering what scores do the sites use when running the prequal? I'm just wondering if my prequal would be based off of  old outdated info or info that's current at the time of the prequal being ran.

Is it current right that exact instant the prequal is done?

Or is it the scores that are updated once a month automatically? AKA the score you might see when you go to your credit card account at various sites.

Some other method?

Thanks.

[OmarGB9]

Usually they use old SPs that could be anywhere between one month and three months old.

[boober]

Well that sucks.

[OmarGB9]

I believe it does depend on the lender, though. Some (wouldn't know which, specifically; just what I've heard on here) do fresh SPs when you do a prequal.

[takeshi74]

It varies.  That's one reason why you shouldn't rely on them.

If you're going to try then pull your own reports directly from the CRA's and see when they SP'ed you.

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@boober wrote:

Or is it the scores that are updated once a month automatically?

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A score is generated at a given point in time using whatever data is in the report at that time.  How often creditors SP and generate a score is not a universal matter.  All creditors are not on the same schedule.

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@boober wrote:

But I'm just wondering what scores do the sites use when running the prequal?

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That also varies.  You'd need to find what model and CRA the creditor uses and then go pull that score.

I suggest learning to interpret your own reports and letting your needs/wants determine what you apply for -- not a creditor's marketing department.