Pre Qualification

When a customer applies for a credit card, there is a credit check by the issuer which is reported as a hard inquiry in the bureau reports. If the application is not approved then it is not a great experience for the customer. They take a hit on their credit score for an application which is not approved.

Pre-qualification is a feature offered by certain credit card issuers which enables checking whether a credit card application for a customer will get approved or not. This is a great feature as this check is mostly performed without hurting the credit score of the customer. The inquiry posted by the issuer is a soft inquiry. It is a safe way to check a card or offer eligibility. In most cases, customers receive a confirmation on products and offers in real time.  

Learn more about hard and soft inquiries.

How it works:

  1. Check the issuer website if they offer pre-qualification option
  2. On the secure webpage, customer will be asked to share personal details like name, address, date of birth, social security number, income, contact details.
  3. Get the decision by the issuer on pre-qualification offer once all the details are submitted
  4. Customers may receive personalized offers through the pre-qualification process. Customer may also receive multiple offers and they can compare cards from the list of pre-qualified offers.
Always use a trusted and secure website to check credit card offer pre-qualification.