Pre-Approved Credit Cards Are Not Necessarily Approved - KALB-TV News Channel 5 & CBS 2

Pre-Approved Credit Cards Are Not Necessarily Approved

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Does "pre-approved" actually guarantee you'll get a new credit card? The answer is no.

Banks and other lenders purchase from credit bureaus a list of people who meet the general criteria they desire and then send out bulk mailings. But, potential customers still need to fill out an application which card issuers can still reject.

Your chances could be hurt for being approved if you have incurred additional debt, missed payments or applied for other loans. Just keep in mind, the idea behind a pre approval is to encourage consumers to apply for a particular offer.

It's best to take the time to compare several of the card offers currently available and choose the one that best suits your financial needs.

 

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