HOWOur approach to credit card odds
CreditOdds is very much a work in progress. The goal of this site is to highlight the metrics required to get approved for any given credit card. Initially, I sourced this data from reddit (shout out /r/CreditCards) and other credit card forums. This approach isn't scalable and I am hoping that this site provides a medium for collecting this information at scale. While I have a backlog of features I'd like to achieve, this early version of CreditOdds will rely heavily on the good will of you to report your results to help others.
When a user signs up they have the ability to report a result on any card. We ask for a few pieces of important information when submitting a result:
- Credit Score
- Income
- Application Date
- Age of Oldest Account (Length of Credit)
- Existing Account with Bank
- Approved?
If approved:
- Starting Credit Limit
If rejected:
- Reason provided
There are many other questions I'd like to ask, but this is the baseline that I feel people will answer. I selected these fields because it is what you will likely see on most card applications. Additionally your credit score gives a good high level analysis of what the bank sees when they pull your credit.
This is by no means an exact science. As I've mentioned before, there are special exceptions which I don't currently account for in my reporting template. If you have questions, comments, or concerns I invite you to start a discussion with me on twitter.