Credit Pre-qualifications and Opting Out

[LooksAreDeceiving]

Hello All,

I currently have one open credit card account (WF Propel, 3K, 3-27-19), and in the market for another within the next month or two.  Therefore, I've been attempting to assess my credit worthiness with various lenders via pre-qualifications.

I've tried AMEX, Cap One, Citibank, and Discover.  With the first three, I receive a message to the effect of "We've been unable to locate any offers for you."  Also, I have an account with Chase, and when I check their CC offers, the rejection additionally states that it may be due to opting out of pre-screened credit offers from Chase (which I have done for all potential creditors).

When checking Discover, however, I always get a valid response (complete with a written explanation of refusal, if applicable).  As of now, they've pre-approved me for both the Cash Back and Chrome, although I don't necessarily want Discover as my NEXT card.

My question is this: 

Is Discover the only creditor in my list that initiates a real-time soft pull of my credit on pre-qual?

Are the others (AMEX, Cap One, Citi, Chase) merely accessing their records to see if they've pre-screened me?

If the latter is the case, can anyone point me to other pre-qual sites that work for those who have "opted out?"

I find it hard to imagine Discover would be the only one to behave exceptionally.

FYI, my EXP FICO 8 is 662 (95% util, which I will have cleared by next reporting).

Thanks.

[Anonymous]

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@LooksAreDeceiving wrote:

Hello All,

I currently have one open credit card account (WF Propel, 3K, 3-27-19), and in the market for another within the next month or two.  Therefore, I've been attempting to assess my credit worthiness with various lenders via pre-qualifications.

I've tried AMEX, Cap One, Citibank, and Discover.  With the first three, I receive a message to the effect of "We've been unable to locate any offers for you."  Also, I have an account with Chase, and when I check their CC offers, the rejection additionally states that it may be due to opting out of pre-screened credit offers from Chase (which I have done for all potential creditors).

When checking Discover, however, I always get a valid response (complete with a written explanation of refusal, if applicable).  As of now, they've pre-approved me for both the Cash Back and Chrome, although I don't necessarily want Discover as my NEXT card.

My question is this: 

Is Discover the only creditor in my list that initiates a real-time soft pull of my credit on pre-qual?

Are the others (AMEX, Cap One, Citi, Chase) merely accessing their records to see if they've pre-screened me?

If the latter is the case, can anyone point me to other pre-qual sites that work for those who have "opted out?"

I find it hard to imagine Discover would be the only one to behave exceptionally.

FYI, my EXP FICO 8 is 662 (95% util, which I will have cleared by next reporting).

Thanks.

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What are your FICO score for each of the three credit bureaus?  Also, are your credit reports locked/frozen?  That could impact prequalification.  

Since your Wells Fargo account is only 5 months old its unlikely that most of the major lenders would screen you as a potential target since they typically look for a longer credit history.  Discover is amenable to short histories and "thin" credit files so its likely the reason why you prequalify there.

[LooksAreDeceiving]

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@Anonymous wrote:

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@LooksAreDeceiving wrote:

Hello All,

I currently have one open credit card account (WF Propel, 3K, 3-27-19), and in the market for another within the next month or two.  Therefore, I've been attempting to assess my credit worthiness with various lenders via pre-qualifications.

I've tried AMEX, Cap One, Citibank, and Discover.  With the first three, I receive a message to the effect of "We've been unable to locate any offers for you."  Also, I have an account with Chase, and when I check their CC offers, the rejection additionally states that it may be due to opting out of pre-screened credit offers from Chase (which I have done for all potential creditors).

When checking Discover, however, I always get a valid response (complete with a written explanation of refusal, if applicable).  As of now, they've pre-approved me for both the Cash Back and Chrome, although I don't necessarily want Discover as my NEXT card.

My question is this: 

Is Discover the only creditor in my list that initiates a real-time soft pull of my credit on pre-qual?

Are the others (AMEX, Cap One, Citi, Chase) merely accessing their records to see if they've pre-screened me?

If the latter is the case, can anyone point me to other pre-qual sites that work for those who have "opted out?"

I find it hard to imagine Discover would be the only one to behave exceptionally.

FYI, my EXP FICO 8 is 662 (95% util, which I will have cleared by next reporting).

Thanks.

---

What are your FICO score for each of the three credit bureaus?  Also, are your credit reports locked/frozen?  That could impact prequalification.  

Since your Wells Fargo account is only 5 months old its unlikely that most of the major lenders would screen you as a potential target since they typically look for a longer credit history.  Discover is amenable to short histories and "thin" credit files so its likely the reason why you prequalify there.

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I haven't pulled my reports/scores from EQ/TU since my FICO scores started generating again (after the Propel approval); I was going to check them after this upcoming statement reports.  I do know that both agencies are reporting Propel as my only open TL.

No, my reports aren't locked/frozen when I'm attempting the prequals.

It certainly makes sense that I wouldn't be prescreened by most lenders at this point.  And if that is what's happening, I understand the response, since I'm not going to get prescreened REGARDLESS, since I've opted out of the process.

The curious thing to me is that Discover apparently checks real-time (since they can't prescreen me either).  At one point (I've tried many times with them), they even sent me a letter stating that my reports were locked (inadvertently, during my first attempt).

It does seem that the other creditors are merely accessing the results of their prescreening process.  If anyone has opted out, and is able to get valid approvals from these sites, I'd appreciate letting me know!

I guess my pre-qualification options are limited at this time, unless I opt-in (which isn't going to happen).