Pre-qualify on CreditKarma while under 21?

[Subexistence]

The credit card act of 2009 made it a law so that people under 21 can't prequalify but yet I ws able to pull it off in creditkarma's site.

Login to CK then got to credit cards, then click the drop down so you can click 'search all credit cards'

-->https://www.creditkarma.com/credit-cards/search-cc

Then click the app at the top that says 'Find out if you have been pre-qualified'

In any case the above image shows the terms of prequalification. It seems creditkarma is sending a lot of information over for the process.

Once you agree and continue it will display your offers and in my case it was Amex BCE and Amex Everyday.

You can always revisit to see your prequalified offers by clicking 'don't forget....'

or use the below link

https://www.creditkarma.com/credit-cards/prequalified?

My Amex BCE prequalify offer was spend $500 to get $150. This offer did not include the advertised restaurant offer.

The default offer was $100 for $1000 spend + $200 for $2000 spend at restaurants.

My prequal offer was 15,000 points for 1000 spend with Everyday card.

The default Everyday offer was 10,000 points for$1000 spend.

So what do you guys think of this way to pre-qualify while under 21?

[Anonymous]

I didn't even know that one could obtain pre-qualified offers through CK.

[sjt]

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@Anonymous wrote:

I didn't even know that one could obtain pre-qualified offers through CK.

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Its a new thing they started a few months ago.

[Subexistence]

Another tings to note is my oldest accont and AAoA are both 5 months so I don't have FICO yet? Does that mean pre-qualificiation on CK is done through Vantage?

[sjt]

You slipped throught the cracks, but if you take them sign up for those offers they will pull credit and you could get turned down or ask for more information like proof of income.

[Anonymous]

In the CK it says my Chase pre-qualified offers are Freedom, FU and SP.  On the Chase site it says Slate, FU, SP.  I wonder why the inconsistency.

[Subexistence]

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@Anonymous wrote:

In the CK it says my Chase pre-qualified offers are Freedom, FU and SP.  On the Chase site it says Slate, FU, SP.  I wonder why the inconsistency.

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The terms and conditions in one of my pictures state CreditKarma sends the information used for pre-qualification. At the time I recieved those pre-qualifications, my fico scores were not generated yet although creditscorecard generated my EX today of 732. My theory is that CK uses Vantage scores for the pre-qualificaion and so that's why they were able to pre-qualify while my FICOs hadn't generated yet. However I can't be sure because I got my first FICO score the day after I used the pre-qualification. Also I recieved Amex offers which use EX which was also the first score I got.

[Anonymous]

Well, if CK is using VantageScores for pre-qualification, then unless that creditor (which I don't know of any) uses VantageScores than the pre-qualification is basically bogus, no?

[Subexistence]

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@Anonymous wrote:

Well, if CK is using VantageScores for pre-qualification, then unless that creditor (which I don't know of any) uses VantageScores than the pre-qualification is basically bogus, no?

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It would definitely be bogus except in the case where one does not have a fico yet. I would think a cc company can make more profit from luring in a high vantage scoring 5 month old profile over ignoring the profile. It'll be interesting to see if anyone with no fico score yet applies through CK prequalification and we see the result of that application.

[Anonymous]

But if the person is pre-qualified using VantageScore through CK, but the creditor uses FICO scores and the applicant doesn't have a FICO score to pull when the creditor tries to obtain one, wouldn't the applicant be denied?