I'm in the last stages of rebuilding. BK7 from 1997 has fallen off all reports and everything looks great except utilization ratios, mainly since the limits on cards are low. My scores are range from around 680-700 rught now. I owe about $9,000 on a bunch of different cards which I plan to have all paid off by December 2004. The EQ and PG simulators say that if I pay off 90-100% that my scores would be between 740-780. If that is the case, when my balances are paid off when should I expect to get some good preapproved offers in the mail.
I am not sure exactly what or why you will or will not (get) good pre-approved offers in the mail? I do have my opinons though. In my case and in my wife's case I think most of our new offers come from recent credit granting more than say what we have done with balances. Aditionally and possibly having paid off a car loan may have triggered some new marketing as well. My feeling is that the offers are driven more by the grantors need to feel not left out of the party.....Say you apply for a new B of A card out of the Blue and you are approved! I would guess that this would trigger say Well Fargo, Discover, Citi, Etc etc from thinking oh boy here is another person with a high credit score who needs to get deeply in debt, lets send them a million new offers...since they have B of A they surely need 10 other new prime cards in their hands so they can go out and hang them selves with new debt. In fact I would be so bold to guess that any actual advantage from pre-approved offers are actually very slim to non-existent at all. Personally I have actually had more success and more approvals by hand selecting the card or grantor I wanted then by going by pre-approvals. This is just my opinion though, and I am sure many vets in here to beg to differ. The one exception to this was an actual approval from Capital One. Capital One will actually send out approvals just to a certain zip code or marketing area to learn more about the behavior and how to predict future behavior of their card holders. Crap one gave me $300 card enough though I had a $3,800 6 year old uppaid charge off with them. Todate this is my general take on pre-approvals, but as with everything opinions very. Dog
