Pre-Approved Credit Card Offers
Pre-approved credit cards allow you to get a credit card quickly and with a guaranteed approval. The best pre-approved credit card offers are often found online. Online credit card affiliate companies are able to use the information on your credit report to find offers that find your individual needs. These companies search thousands of credit card offers to get you the best rate, features, limit, etc.
What are pre-approved credit cards?
Credit card companies take the information on your credit history to evaluate risk. If you have bad credit or a bankruptcy, you probably won’t be approved for a high limit. However, you can still be approved for a credit card. Credit cards are an excellent way to rebuild your credit.
Credit card companies take many things into consideration before offering you a pre-approved credit card. These include, but are not limited to:
- Your debt to income ratio
- The current balance of existing credit cards
- Similar credit cards that you already use
- Certain requirements for credit card approval
- Your past credit history
- The possibility of you reacting to the pre-approved credit card offer
How does the pre-approval process work?
Often times, credit card companies ask the credit bureaus for a list of customers who met certain qualifications. You might also see an inquiry on your credit report marked as “promotional.” This means that your report was checked against a “pre-approval” list. This type of inquiry does not affect your FICO score and cannot be seen by other creditors.
If you decide to apply for the pre-approved credit card, your application is sent to a processing center. Here, your current credit report is checked to make sure that nothing new and alarming shows up. It is this credit check that is used to determine whether or not you have been approved. All it takes is a few minor changes in your current credit card balance, income information, etc.
Pre-approved credit cards take the hassle out of shopping for a credit card, especially when you use offers online. You can be sure to get the best interest rate, credit card features, rewards programs, etc.You can also choose to opt out of pre-approved credit card offer by visiting www.optoutprescreen.com and filling out the appropriate information.
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