If you’re in the market for a new credit card, it’s easy to get overwhelmed by the many options available. Fortunately, you can narrow down your choices by seeing which cards you’re likely to be approved for – that’s where pre-qualification comes in.
While it’s not guaranteed approval, pre-qualification can give you a general idea of whether you may be approved without impacting your credit score. Here’s what you need to know about pre-qualification.
What does pre-qualification mean?
Pre-qualification means you meet basic eligibility criteria that may qualify you for a particular credit card. But pre-qualifying doesn’t guarantee you’ll be approved for the card if you apply. And you still must apply to open a credit card account for the card you were preapproved for.
When a card issuer pre-qualifies you, they perform a soft credit check based on the personal information you provide, which doesn’t impact your credit score. Card issuers may only require basic personal information in their pre-qualification form, like your name, email address, physical address and last four digits of your Social Security number (SSN).
Ways to find out whether you're pre-qualified
There are several ways to find out if you pre-qualify for a particular credit card.
Check the mail (and your email)
Card issuers may send you an offer in the mail indicating that you’re already pre-qualified for a particular credit card. They may also send pre-qualification offers straight to your email inbox.
Fill out a form online
You may be able to see which cards you pre-qualify for by filling out a screening appllication on the card issuer’s website. Simply fill out the form, submit your information and see which credit cards you may pre-qualify for, if any.
Call or visit in person
You may be able to get pre-qualified offers by contacting the credit card issuer via phone or stopping in if you live near a brick-and-mortar location. The representative who helps you over the phone or in person can let you know which cards you may pre-qualify for. They may also be able to help you apply for a card if you choose to.
