Chase Slate Invitation

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Vattené
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Chase Slate Invitation

Postby Vattené » Fri Sep 19, 2014 6:30 pm

I moved a few months ago and the prescreened credit card offers are just starting to trickle back in. Today I got one for a Chase Slate and I was almost insulted! I used to get Freedoms and CSPs, but now this is all you think of me, Chase?

Seriously though, if these are "targeted" in any way beyond "does person X pass the minimum requirements it takes to likely be approved" then I wonder if it could be because they are doing SPs and see that I have balances reporting on a Discover card now.
-Vattené
FICO-8:
EX - 809 (11/16) | TU - 803 (11/16)
Primary Cards:
American Express EveryDay - $20,000 (10/14)
Discover it - $23,000 (2/14)
AU on Barclay Sallie Mae - $10,000 (8/15)
plus several store accounts of varying usefulness now


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CarefulBuilder14
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Postby CarefulBuilder14 » Fri Sep 19, 2014 6:56 pm

One guess...

Maybe your new zip code has a lower average income, and it falls into their Slate target market instead of their Freedom or CSP market? They might not be evaluating whether anyone in your area would likely qualify for a Freedom/CSP.

I know you want an Amex soon for 2014 backdating. If that's all you want, opt out of those mailings. I did.
Wallet: Prestige CSP SchwabPlat Freedom It Hyatt SallieMae AAPlat
SD: Arrival BrooksBros BCE ED IHG
Letting new accounts cool off since May
Really not sure what I'll add next or when

popamode72
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Postby popamode72 » Fri Sep 19, 2014 7:35 pm

Quite frankly, I've never gotten any credit card offers through the mail. I wonder when they would start hammering me with those.
Macy's TLs (21k), Lowes (17k), CSP (10k), Sam's Club (10k), Nordstrom (5k), AARP (4.2k), Freedom (3k), Discover (1.5k), Quicksilver (2k), BoA (3k), Barclaycard Arrival (2.5k), Amazon Store (6k), Paypal (4.9k), Sam's Club MC (3.6k), Walmart MC (1.2k)

MemberSince99
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Postby MemberSince99 » Fri Sep 19, 2014 9:24 pm

I just got one for CSP. For kicks I checked their pre-qualified site and it's also there, with a 15.99% APR. If you see the pre-qualify there it's usually a go.


I thought about it, because while the UR points don't do a hell of a lot for me, that metal card is cool if I'm going to carry a Visa. The only drawback is the 95 annual fee which made me hesitate. Plus it just frankly isn't that useful to me. But the metal is pretty cool, that card got more remarks than any Amex I've carried though the EDP has gotten a few too.

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Vattené
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Postby Vattené » Fri Sep 19, 2014 10:02 pm

CarefulBuilder14 wrote:One guess...

Maybe your new zip code has a lower average income, and it falls into their Slate target market instead of their Freedom or CSP market? They might not be evaluating whether anyone in your area would likely qualify for a Freedom/CSP.

Interesting, I didn't even know they did that. Even when it is addressed to me personally?

CarefulBuilder14 wrote:I know you want an Amex soon for 2014 backdating. If that's all you want, opt out of those mailings. I did.

They don't bother me; actually I kind of like seeing what I get, to be honest. It would be awesome if I got one from Amex that was better than the standard offer, but I'm sure there's a snowball's chance in hell of that happening (if they even do that sort of thing). After I finally pull the trigger, I may look into freezing my credit. I don't see anything else even interesting me remotely at that point.



MemberSince99 wrote:I just got one for CSP. For kicks I checked their pre-qualified site and it's also there, with a 15.99% APR. If you see the pre-qualify there it's usually a go.


I thought about it, because while the UR points don't do a hell of a lot for me, that metal card is cool if I'm going to carry a Visa. The only drawback is the 95 annual fee which made me hesitate. Plus it just frankly isn't that useful to me. But the metal is pretty cool, that card got more remarks than any Amex I've carried though the EDP has gotten a few too.


I still don't know if I can stomach an annual fee, but the EDP is one of the cards I am considering. My spending could justify it, but I don't want to feel like I have to use any particular card. Plus if they change the rewards eventually or another, more attractive card comes around I will feel stuck.

I guess my indecision will keep on lingering for now...
-Vattené
FICO-8:
EX - 809 (11/16) | TU - 803 (11/16)
Primary Cards:
American Express EveryDay - $20,000 (10/14)
Discover it - $23,000 (2/14)
AU on Barclay Sallie Mae - $10,000 (8/15)
plus several store accounts of varying usefulness now

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CarefulBuilder14
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Postby CarefulBuilder14 » Fri Sep 19, 2014 10:11 pm

Annual fees aren't good, but the nice thing about the EDP is that if the terms become unattractive, you can downgrade it to the ED and get out of the annual fee while keeping the account open. You can't do that with many AF cards.

Regarding the zip code business, I'm not certain exactly what is possible - it was just one idea. But I think issuers do have quite a few search parameters when creating prequalified mailing lists with the help of CRAs. And my idea seems like a reasonable set of search parameters.

Also, credit freezing is different from opting out. Opting out means I can apply for credit but don't get offers in the mail - I am invisible to companies searching credit databases for people like me to send card ads to. Freezing means your credit report is immune to hard inquiries, so you basically can't get credit. If you apply for a card with frozen credit, and don't give the issuer special permission, the CRA will just tell the issuer they can't do a pull, and the issuer will neither approve or deny you, but probably just ask you to unfreeze your credit. They'd then give you a few days to unfreeze it so they can do their pull. If they couldn't do a pull, they'd eventually just deny you.

Some mailed Amex offers are worth getting a lot of unwanted junk mail with them.
Wallet: Prestige CSP SchwabPlat Freedom It Hyatt SallieMae AAPlat
SD: Arrival BrooksBros BCE ED IHG
Letting new accounts cool off since May
Really not sure what I'll add next or when

flan
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Postby flan » Fri Sep 19, 2014 11:12 pm

Vattené wrote:Interesting, I didn't even know they did that. Even when it is addressed to me personally?


They don't bother me; actually I kind of like seeing what I get, to be honest. It would be awesome if I got one from Amex that was better than the standard offer, but I'm sure there's a snowball's chance in hell of that happening (if they even do that sort of thing). After I finally pull the trigger, I may look into freezing my credit. I don't see anything else even interesting me remotely at that point.



When credit card companies send out marketing offers, it's usual practice to do something like this:
1) pick zip codes or census tracts or state that have general demographic data matching your product. That can be all sorts of things, from income level to education level.
2) Ask credit bureau for a list of name and addresses that meet some other criteria of your product, in that zip/census tract/state. Something like "credit score between 650 and 720, who has a recent auto loan, but not a mortgage."
3) filter it against some other data. That can be "remove people who are already our customers", or "only people who subscribe to Sport Illustrated", or all sorts of other things.

So, yes, if you live in the wrong zip code, you may never see an offer for a fancy card, if it's a poor zip, while someone across town with the same sort of scores gets them, because he lives in the rich zip.

Credit card companies also do more targeted offers. I got one from Amex the other day. I forget the details, but it was roughtly "twice the cash bonus for signing up, the lowest interest rate on offer for the card, and a zero percent period something less than we're advertising for others". (Amex, of course, knows a lot about me because I have cards from them, and I've told them recently how much I make.) I'm also getting Chase Marriott solicitations, which so far have been the same as the advertised offer, but list my existing marriott point balance. (Chase know as much or more about me than amex does.)

Another thing that card companies do is have a series of offers. For instance, when I got my amex blue sky card, I got a series of mailings, offering (the point equivalent) of $200 for signing up and meeting the spend, then $300, then $400. Then a pause, and the $200 offer again, followed by the $300 offer, and then the $400. That's when I applied. I got the card and a $500 offer in the same day's mail. It took a fair amount of sweet talk to get them to give me the better offer.

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Vattené
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Postby Vattené » Sat Sep 20, 2014 10:53 am

Sorry for my lack of clarity, the credit freeze comment was meant more as a separate thought. It would just add some security since I wouldn't be remotely interested in getting anything else (and if that were to change I could just unfreeze it).

I would think with access to individuals' scores and a relatively easy ability to run masses of people through filters, targeting individuals would be more fruitful that targeting demographics and zip codes.
-Vattené
FICO-8:
EX - 809 (11/16) | TU - 803 (11/16)
Primary Cards:
American Express EveryDay - $20,000 (10/14)
Discover it - $23,000 (2/14)
AU on Barclay Sallie Mae - $10,000 (8/15)
plus several store accounts of varying usefulness now

flan
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Location: chicago

Postby flan » Sat Sep 20, 2014 2:19 pm

Vattené wrote:Sorry for my lack of clarity, the credit freeze comment was meant more as a separate thought. It would just add some security since I wouldn't be remotely interested in getting anything else (and if that were to change I could just unfreeze it).

I would think with access to individuals' scores and a relatively easy ability to run masses of people through filters, targeting individuals would be more fruitful that targeting demographics and zip codes.


If you're not a customer, they don't get full information, and they have to do pretty broad queries. For the most part, advertisers are better at this than they used to be, but they still suck. You need to get the offer to someone who's qualified, and who will take it. Finding the intersection of the two is harder than finding either set.

MemberSince99
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Postby MemberSince99 » Sat Sep 20, 2014 9:28 pm

I thought long and hard about the CSP invitation and you probably guessed it - I bit. I figured just like every other time I've applied with Chase I'd get the "manual review" message, but to my shock it was instant approval. The limit is 12k.


What pushed me over the edge to do it besides it being metal (seriously one of the reasons) is knowing Chase may not give you a CLI on your existing card but they do seem to often give you a new card with a high limit that you can just transfer anyway. Strange but true - I don't get that logic but hey, doesn't mean I can't use it to my advantage.



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