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How is it that all these credit companies can send all these letters of pre-approval, but when I contact them, I don't get approved? It seems like I'm just a waste of their postage. Why do they bother sending me letters? [/b]
cc
Maybe it's a 'good' thing you don't get approved. I don't mean that in a bad way...just ALOT of those CC's are some very high % and you probably don't won't to 'work' with them.
Actually some of the companies do not disturb you over phone because most of the customers don't bother to listen to them and disconnect the line. So instead of calling, they send you loans and credit cards offers by mail so that you can go through it in your spare time and if you like the offer, you can call them up. Now when they have send you the mail, they did it randomly from the database because they do not have all the information about you. Now when you call them up, they verify you eligibility over the phone and proceed only if you qualify for the same.
debt
yep.....I bet they are hping that you would call and give them ALL of your personal information to them. i don't like doing that. they could give that info to anyone, which is scary.
I hear you sdchargers, it probably is a good thing that they don't approve, good thing for me.
After you call the creditors and disclose your personal information, they decide whether you are eligible for credit or not. Now if you are not eligible, they may disapprove but may disclose your information to other creditors who may purchase bulk of such information. Now if these new creditors find that you are eligible for their debt, they call you up and convince you to go for the loan.
debt
i really don't want ANYONE to disclose my prsonal info to anyone else. Address, phone number, etc. ..even SS#. All of this can lead to Identity Theft, etc. Really scary.
Yes, only disclosure of social security number and credit card number may lead to identity theft. However, if you disclose your income to a credit company to check whether you are eligible for their credit or not, it will not lead to identity theft, but it may increase advertisement calls from other credit card and loan companies. So to get rid of all these calls, I think that you should not disclose your income and other details with them.
debt
If I don't have to put my personal info 'out there', i won't...but, I guess sometimes you have to, for certain things.