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Forum nameGeneral Discussion
Topic subjectpre-approvals are hella shaky at best
Topic URLhttp://board.okayplayer.com/okp.php?az=show_topic&forum=4&topic_id=12684132&mesg_id=12684242
12684242, pre-approvals are hella shaky at best
Posted by deejboram, Wed Dec-24-14 06:32 PM
i used to design algorithms to make up mailing list for credit card companies to send them "pre-approval" letters to

basically i would say anyone with no late payments or deliquent accts in the previous 36 months would get a "pre-approval" letter

from those ppl, like 80% of the respondents would go on to "full approval"
the other 20% would be declined for various reasons

it costs credit card companies less than a dollar to get you to apply for that "pre-approved" card but they will make >$100 within the next 12 months off you if you're approved

so the money is in it for them to keep pluggin everybody they can with them offers