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Discussion in 'Credit Talk' started by fingrrrl, May 25, 2001.
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Similar thing happened to me with Discover. In fact at least once a month they send me a "You've been invited to apply..." solicitation. Was denied before a BK, what makes me qualified post BK?
Also why do I have to be invited to apply for anything? Can't I just pick up an application and apply. I don't see any advantage to be "invited." I just tear these things up and throw them away, though I really wish they would just stop sending them.
Question, do you remember the reasons that you where denied for the card?
One of the great things about mbna is that we are the ONLY bank that uses Human (people) credit analysts to make decisions.
If I were you. I would call mbna, ask to be transfered to the activation department. See if they still have your application on file. Speek with someone in applications. If the reasons for denial are not effecting your credit anymore ask for them to reconsider your application. Explain to the activation department your past situation, and where you currently stand now.
but, if you remember, tell me what your reasons were for denial before. Before you contact activation department.
I can tell you what to do much better if I know.
Also, please keep in mind that Pre-approvals DO NOT promise that you that you WILL get the card.
Here is how pre approvals go:
Creditors pay the CRA's to provide them with, for example, everyone that has paid their bills ontime in the past year, no delinqencies, and not more than 3 inquires in past 6 months , and that live in pennsylvania. THIS IS ONLY AN EXAMPLE.
Then the CRA's systems kick out all those people that meet those qualifications.
The creditors generate "pre-approvals, or invations" to cards like platinum cards or others, depending which card is trying to be marketed at that time.
The pre appovals still ask for relevant information to continue processing of your applications. Heres some advise....IF YOU EVER HAVE TO PUT YOUR SOCIAL SECURITY NUMBER ON AN APPLICATION, THEY WILLL PULL A CREDIT REPORT ON YOU.
So, depending on your credit report history...you may be denied or approved for the card.
I was denied because I had a recent delinquency (recent? it's 3 years old!) and excessive inquiries on my report...no shit, half of them aren't even ones that I made. Anyway, I do have four lines of credit that are in good standing, most 2 years old, one 5 years old. I was aware of the misguided wording of 'pre-approved' but I also thought that if you were pre-approved the creditor did know a little about your history. I mean, does MBNA send these out with one express purpose of putting another hard inquiry on people's reports who aren't sure if they would be denied for the card or not? It's just strange that I was clearly denied and yet they keep sending me mailings "inviting" me to apply.
First, you are right, Pre approvals are sent out because creditors know a little about your history. That was the prequalifications that i told you about.
Pre approved offers are not a MBNA thing, it is a credit card industry thing. MBNA doesnt gain anything by inquiring your credit file, if your not approved.
Also, the computer system doesnt keep track as to when and who was sent out preapprovals. Prequalifications for different cards change constantly.
Also, if you where denied because of inquires....a credit analyst saw something wrong with your entire
"credit picture" I would suggest that you call the activation department and have someone tell you more. Explaining your situation may give you leway on the decision. Also, probably shouldnt have any balances on your other credit reports.
Too many inquires make you look credit hungry, especially if you have balances.
Dispute the delinquent account, you may have luck getting it deleted.
But, talk with then so they can give you better insight as to why you where denied. The inquires, if it wasnt for a ligit purpose, like getting a car or house, may be a problem with them.
Let me know how it goes,