how do you get pre-approved for credit cards?

Question

What is the criteria for a pre approved credit card offer?

Answer 1

Seems to me that if you're breathing and have a mailing address, you're pre-approved! Credit card companies send everyone junk mail declaring you to be "pre-approved," although they do reserve the right to give you final approval, and may not actually issue a card based upon your credit record. So don't believe the hype and do your homework before you accept any credit cards.

Answer 2

Credit card companies buy lists of potential customers from the major credit reporting agencies. They provide criteria that represents the demographic group they are marketing to (credit score, age of credit record, zip code, etc.) and the credit reporting agency provides a marketing list of the people who meet that criteria.

The credit card companies (or car dealer, bank, loan-shark, whoever) do NOT get information on your actual credit standing, only that you met their pre-approval criteria. Once you apply, they look into your credit record and make the final decision. This is all explained in the fine print on the offer. The offers also include instructions on how you can "opt out" of similar offers in the future.

Different creditors go after different market segments. Some go after only the cream of the crop -- the American Express Centurion Black card is an example. Others (such as Providian) go after the bottom of the market -- people with recent bankruptcies, chargeoffs, etc. Most are somewhere in between those two extremes.

If you're not getting ANY pre-approval offers, you probably don't have a credit file at all, you're already dead, or have such poor credit that even the payday loan sharks don't want you. Or, you got smart and opted out!

Answer 3

even if it says you're pre-approved you aren't any further sure to be approved. previously getting my first mastercard, I revieved about 4 capital on pre-approvals and a pair of locate card approvals, and that i nonetheless were given denied from both one among them on the time, even even if I entered the "code" they deliver you. the appropriate element to do is get a card with your modern economic agency or credit union that you've a sturdy acceptance with. they're very likely to approve you and than after that you will be approved better many times for the playing cards you choose.

Answer 4

Even if you get a 'pre-approved' offer, they have all kinds of clauses and conditions that give them to right to refuse your application if you are not credit worthy.

Answer 5

Usually, they send those to you when you have proven creditworthy... I throw those offers away all the time, but my credit score is over 800

Answer 6

I don't know, but I think it's probably a good credit record, because they won't quit sending them to me!

Answer 7

Your name comes on a mailing list they bought. That's it.

Why else would the envelope say "bulk rate" where the stamp goes?