Possible reasons why I'm not getting any targeted credit card offers with nearly perfect FICO score?

[GApeachy]

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@Mr_Mojo_Risin wrote:

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@GApeachy wrote:

@sean31732 sometimes you have to toot your own horn....meaning go to the sp preapprovals, fill them out, don't app but just toot really loud. You'll find this thread helpful:  

https://ficoforums.myfico.com/t5/General-Credit-Topics/Soft-pull-PREAPPROVALs-Updated-4-15-21/td-p/5...

Have your cr's unlocked to generate all those sp's.  

Also, make sure you don't have any other cra frozen like Sagestream, Factortrust, etc.

I found that after a couple of months filling out different apps that I started receiving mailers, before that....crickets.  

So it may well work for you too....just gotta let'em know you're here.

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This is how I started receiving mailers. Doing the SP pre-approvals and few months later I started getting some in the mail and email, not a lot of them but enough to put a smile on this face. 😀

Peachy to the rescue! 😎

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Haha!  We've been there, done that, right?!?  It's all good...and fun too.  Yeah, those mailers do sprinkle sunshine straight out the mailbox.

[sean31732]

Thanks to Brian, Slabenstein, Simplynoir, GAPeachy, & Mr_Mojo_Risin for your contribution to the thread. 

I really appreciate your insights on this topic. 👍

[Iusedtolurk]

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@sean31732 wrote:

I have enjoyed the culmination of a lot of time and effort in regard to my current credit scores.

It took me just over three years to go from a slightly below-average credit score of 628, to a nearly PERFECT FICO SCORING AVG of 849 across all three bureaus. (FICO S8*: EQ: 848, EX: 849, TU: 850) 👍

*Roughly the same since early Dec. 2020.

Much to my extreme disappointment, I have not received ONE credit card offer from any one of the major banks or financial institutions over the past four months. NOTHING. ZIP. ZILTCH. NADA. 

Not even some of the second-tier companies like Credit One Bank have sent me an offer... 

What is the point of all that work...if you can't cash it in for an outstanding intro/bonus offer?

I must be doing something wrong here. But what?

Can you guys please help me figure out why there seems to be COMPLETE RADIO SILENCE (for me) when it comes to getting those highly coveted (maximum-intro bonus) targeted offers ???

I was sure that would happen after I surpassed the 800 FICO milestone. (last fall) But that doesn't seem to be the case for me for some reason.

I keep all three of my credit reports locked (I have an active monthly subscription with each one of the three credit beaureus), to prevent fraud and identity theft. Could that also be hurting my ability to get all those amazing targeted offers I keep hearing others talk about on the boards? 

I thought the main driver was a super high FICO score??? Is that not enough info to trigger these offers?

You can't have BAD CREDIT and a 850 credit score. What more do they want? 

Three other troubling  FICO RELATED DATA POINTS that I'd like to share...

1) Asked for a small credit limit increase in the past week on TWO different existing CC that I use every day. I've had a relationship with each one for over 10 years now. (DENIED in both cases)

2) Asked for a review of my car insurance policy in light of my improved FICO score...the NEW QUOTE was HIGHER than the current policy I have now with no changes to the coverage parameters!

3) Asked for an interest rate reduction on three different credit cards in light of my nearly perfect score...yep, you guessed it...DENIED ON ALL THREE ATTEMPTS.

Why does this keep happening? 

Please help? All opinions welcome. Thanks!

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 @sean31732  You have been given some great advice so hopefully things will change for you and those fantastic scores start providing you with anticipated success.

Good Points:

Make sure you're not opted out.

Try the Pre-qualification sites. MAKE SURE REPORTS ARE UNLOCKED. (As my scores were improving from time to time I would do a pre-qual for Amex and kept getting no offers. I later did the pre-qual with reports unlocked and BOOM several offers.)

Some cards people obtain when they start out rebuilding end up being BUCKETED and no matter how long you have them they will only grow so much. The only way to get a higher credit line is with a new application.

Pay attention to the DENIAL reasons whenever you request something and get turned down. For instance if a creditor says your current use of the card is not warranting a CLI you have to start utilizing the card more.

Sometimes it only takes a few tweaks to receive positive outcomes.

Search the forum and read through the posts.  There is a wealth of information to digest.

Good luck and keep us informed!

[sean31732]

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@Iusedtolurk wrote:

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@sean31732  You have been given some great advice so hopefully things will change for you and those fantastic scores start providing you with anticipated success.

Good Points:

Make sure you're not opted out.

Try the Pre-qualification sites. MAKE SURE REPORTS ARE UNLOCKED. (As my scores were improving from time to time I would do a pre-qual for Amex and kept getting no offers. I later did the pre-qual with reports unlocked and BOOM several offers.)

Some cards people obtain when they start out rebuilding end up being BUCKETED and no matter how long you have them they will only grow so much. The only way to get a higher credit line is with a new application.

Pay attention to the DENIAL reasons whenever you request something and get turned down. For instance if a creditor says your current use of the card is not warranting a CLI you have to start utilizing the card more.

Sometimes it only takes a few tweaks to receive positive outcomes.

Search the forum and read through the posts.  There is a wealth of information to digest.

Good luck and keep us informed!

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Could you please provide me with a few examples of legit pre-qualification sites that you know and trust? 

I don't want to get scammed...

[Anonymous]

There was the thread cited. But the legit ones are always at the actual FI's website. Nothing Phished. 🙏🏻

[Iusedtolurk]

@sean31732 

In case you missed it .. All You Can Eat Pre-Qual Sites

PRE-QUALS LIST 

[LawStudentCivilis]

It was not long ago I saw a few comments in passing stating they have a very similar issue to you.  I don't think they created the original post, nor was it the focus of the original post if I recall correctly. They were at 800 or close to, and the commenter stated they noticed they don't receive any offers.  Someone else agreed and stated they felt like they received the most offers when their score was around 750.  I remember it because it surprised me.

I'm also surprised no one has chimed in with a similar issue, since I have seen this previously mentioned.

[KatSoDak]

My DH gets offers. His CRs are not frozen or locked and his scores are mid 700s.

I get no offers. My CRs are frozen. My scores were all above 800 (820-830) before I paid off only loan then co-signed for another, but are still 40 to 60 above DH's. 

I have been successful with CLI requests except with BofA and both Discover and Navy lowered my APR when I asked. 

All my cards except second BofA card have been because I pursued them, not from offers.

[FinStar]

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@sean31732 wrote:

I have enjoyed the culmination of a lot of time and effort in regard to my current credit scores.

It took me just over three years to go from a slightly below-average credit score of 628, to a nearly PERFECT FICO SCORING AVG of 849 across all three bureaus. (FICO S8*: EQ: 848, EX: 849, TU: 850) 👍

*Roughly the same since early Dec. 2020.

Much to my extreme disappointment, I have not received ONE credit card offer from any one of the major banks or financial institutions over the past four months. NOTHING. ZIP. ZILTCH. NADA. 

Not even some of the second-tier companies like Credit One Bank have sent me an offer... 

What is the point of all that work...if you can't cash it in for an outstanding intro/bonus offer?

I must be doing something wrong here. But what?

Can you guys please help me figure out why there seems to be COMPLETE RADIO SILENCE (for me) when it comes to getting those highly coveted (maximum-intro bonus) targeted offers ???

I was sure that would happen after I surpassed the 800 FICO milestone. (last fall) But that doesn't seem to be the case for me for some reason.

I keep all three of my credit reports locked (I have an active monthly subscription with each one of the three credit beaureus), to prevent fraud and identity theft. Could that also be hurting my ability to get all those amazing targeted offers I keep hearing others talk about on the boards? 

I thought the main driver was a super high FICO score??? Is that not enough info to trigger these offers?

You can't have BAD CREDIT and a 850 credit score. What more do they want? 

Three other troubling  FICO RELATED DATA POINTS that I'd like to share...

1) Asked for a small credit limit increase in the past week on TWO different existing CC that I use every day. I've had a relationship with each one for over 10 years now. (DENIED in both cases). Who were the lenders ?

2) Asked for a review of my car insurance policy in light of my improved FICO score...the NEW QUOTE was HIGHER than the current policy I have now with no changes to the coverage parameters!  My suggestion is to check and review your  LexisNexis report for inaccuracies.

3) Asked for an interest rate reduction on three different credit cards in light of my nearly perfect score...yep, you guessed it...DENIED ON ALL THREE.  Which 3 lenders?

Please help me figure this out... 😢

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In order to receive a variety of pre-screened offers or solicitations, you have to be opted-in.  Keep in mind that a pre-screened offer is not necessary if you really want to apply for a CC product.

If your CRAs are frozen/locked, especially as a measure of identity theft or fraud prevention, then it's not going to work.

Another item to keep in mind, high FICO scores aren't everything as far as pre-screened offers go.  A variety of lenders have different criteria for acquiring potential pools of profitable customers.