Give me back my junk mail.
November 22, 2005 3:52 PM Subscribe
How do i get back onto the credit card list?
About a year ago I found a site which promised to completely remove me from the credit card companies mailing lists. I took advantage of it because I was inundated with credit card offers I didn't want. It worked only too well and I now find myself in the position of wanted a new credit card and I know that actively applying for more cards can negatively affect my rating. So, how can I get some decent offers to come my way? If there is a better way to approach this situation please let me know.
About a year ago I found a site which promised to completely remove me from the credit card companies mailing lists. I took advantage of it because I was inundated with credit card offers I didn't want. It worked only too well and I now find myself in the position of wanted a new credit card and I know that actively applying for more cards can negatively affect my rating. So, how can I get some decent offers to come my way? If there is a better way to approach this situation please let me know.
Are you sure that *applying* for cards negatively affects your credit rating?
I'm sure your bank (or better yet credit union) that you already have an account with would be more than happy to give you a credit card.
posted by PurplePorpoise at 4:15 PM on November 22, 2005
I'm sure your bank (or better yet credit union) that you already have an account with would be more than happy to give you a credit card.
posted by PurplePorpoise at 4:15 PM on November 22, 2005
Best answer: I would suggest not getting back on the mailing lists and instead checking out credit card comparison sites like creditcardguide.com or creditcards.com. They include all the major card types, and they usually have direct links to online applications for all of the cards they offer.
posted by carlitos at 4:17 PM on November 22, 2005 [1 favorite]
posted by carlitos at 4:17 PM on November 22, 2005 [1 favorite]
Will that really prevent your rating from being affected? You still need to apply for the card, whether you get a junk mail offer or not. Applying for a single card shouldn't look bad on your credit report.
Anyway, this site will let you opt in or out of the credit report bureau lists.
posted by mbrubeck at 4:17 PM on November 22, 2005
Anyway, this site will let you opt in or out of the credit report bureau lists.
posted by mbrubeck at 4:17 PM on November 22, 2005
Are you sure that *applying* for cards negatively affects your credit rating?
Yep. Each time you apply for one, accepted or rejected, it's kind of a "tick" against your credit rating. Once is no biggie, but they can add up against you.
posted by tristeza at 4:18 PM on November 22, 2005
Yep. Each time you apply for one, accepted or rejected, it's kind of a "tick" against your credit rating. Once is no biggie, but they can add up against you.
posted by tristeza at 4:18 PM on November 22, 2005
Yes, applying for credit dings you.
research for the kinds of deals you're wanting at places like bankrate.com
get a short list together and apply to the top of your list. If they decline you I'd suggest finding out why and repairing it. Then go on to your next option.
posted by FlamingBore at 4:25 PM on November 22, 2005
research for the kinds of deals you're wanting at places like bankrate.com
get a short list together and apply to the top of your list. If they decline you I'd suggest finding out why and repairing it. Then go on to your next option.
posted by FlamingBore at 4:25 PM on November 22, 2005
It's true that the bank's inquiry counts against your score, but (a) it's only a small ding and (b) you're going to get it no matter whether you apply directly or in response to a mailing. As long as you're score is adequate enough to get a card, don't worry about it. Shop for a good deal (i.e. carlitos' links or bankrate.com), pick one, apply, get card, keep living junk mail-free lucky you. Just a couple months of charges and ontime payments to the card sould be enough to bring your score right back up. Not a big deal.
posted by nakedcodemonkey at 4:32 PM on November 22, 2005
posted by nakedcodemonkey at 4:32 PM on November 22, 2005
Best answer: As nakedcodemonkey says, applying for a credit card dings you whether you initiate the request on your own or in response to one of their mailings—it doesn't save your credit score that few points they hit you with if you get denied (or even approved) after looking at one of their offers and deciding to jump on it, simply because the agencies look at credit checks in two ways—ones initiated by you personally and ones initiated by a credit company looking for a quick pre-approval. Your score isn't affected by their pre-approval-type credit checks, but the second you bite, they have to do another one, and your score is affected.
It should be noted that you can complete as many credit checks as you want within a 30-day period while only taking the "hit" once. So if you're denied for one card, you should keep looking within that same period, so as not to further damage your score.
Meanwhile, it may be interesting to know that the reason they dock you for (non-government-allowed annual) credit checks is because they assume that you're looking for new credit to escape from your debt, or to increase your outs, so to speak. They look at it as if you're running out of room and need somewhere else to spread your debt. Disheartening a bit, but also eerily accurate.
Lots more details are available here, but as the others say, shop around before you decide you want to opt-in to one of the most aggressive mailing systems (as you already know) available.
posted by disillusioned at 5:02 PM on November 22, 2005
It should be noted that you can complete as many credit checks as you want within a 30-day period while only taking the "hit" once. So if you're denied for one card, you should keep looking within that same period, so as not to further damage your score.
Meanwhile, it may be interesting to know that the reason they dock you for (non-government-allowed annual) credit checks is because they assume that you're looking for new credit to escape from your debt, or to increase your outs, so to speak. They look at it as if you're running out of room and need somewhere else to spread your debt. Disheartening a bit, but also eerily accurate.
Lots more details are available here, but as the others say, shop around before you decide you want to opt-in to one of the most aggressive mailing systems (as you already know) available.
posted by disillusioned at 5:02 PM on November 22, 2005
Want better credit. Ok...Short answer...Don't apply for credit, pay off you debts, eliminate outstanding debt and just watch the offers come in ... worked GREAT for me in my career... Good luck to you...PS -- cancel any outstanding credit lines as well -- that'll piss them off as well ! BONUS be sure to write them and decline their usurious terms -- let them know why...
posted by orlin at 5:02 PM on November 22, 2005
posted by orlin at 5:02 PM on November 22, 2005
Just to follow on orlin's note - be weary of canceling existing credit lines - even if unused. Your credit score is a product of your debt to available credit ratio and if you don't have a lot of available credit (because you canceled all your accounts) you can do damage to your score. Also - the longevity of your credit accounts in good standing is also a plus that you loose when accounts are closed.
posted by Wolfie at 5:14 PM on November 22, 2005
posted by Wolfie at 5:14 PM on November 22, 2005
I like the list because they send me cheques. I just got a $20 cheque from Chase.
posted by duck at 5:16 PM on November 22, 2005
posted by duck at 5:16 PM on November 22, 2005
I have found the forums at Art of Credit to be an excellent resource on getting, maintaining, and increasing your credit.
You probably won't even have to get an account and post a question. Almost any question you have can be answered from a search there.
posted by whoda at 5:39 PM on November 22, 2005
You probably won't even have to get an account and post a question. Almost any question you have can be answered from a search there.
posted by whoda at 5:39 PM on November 22, 2005
You don't have to worry about being taken off their lists...i think the snail mail version of credit card offers will be going by the way-side. it's much easier to find a card offer online and you can look at a whole bunch of different cards side by side.
i've used www.creditcardsuperstar.com to get my discover card and i was approved rather quickly.
hope this helps
posted by kcmac68 at 11:26 AM on September 1, 2006
i've used www.creditcardsuperstar.com to get my discover card and i was approved rather quickly.
hope this helps
posted by kcmac68 at 11:26 AM on September 1, 2006
This thread is closed to new comments.
posted by annaramma at 4:14 PM on November 22, 2005