Understanding Pre-Approval for Credit Cards: A Complete Guide (2024)

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• Before incurring a hard credit pull, use a credit card pre-approval tool to see if you qualify.
• You might get pre-approval offers in the mail or online, or you can apply for evaluation yourself.
• Being pre-approved for a credit card does not guarantee that you'll pass the issuer's final check.
• Check for offers from multiple credit card issuers with CardMatch™.

Introduction to pre-approval credit cards

Applying for a new credit card can trigger anxiety, even for those with excellent credit. It's understandable: You're about to incur a small (and temporary) drop in your credit score to secure new credit, and there's always a chance you'll be rejected.

Pre-approval credit card offers can alleviate some of this stress by minimizing the impact on your credit and reducing your chances of rejection.

How do pre-approval credit cards work?

Pre-approvals are a great way to narrow your credit card applications to the options you're most likely to get.

Credit card issuers can conduct a "soft credit pull" that skims your available credit history to determine whether you'll likely get approved, all before impacting your credit score.

Pre-qualification vs. pre-approval: What's the difference?

It's important to note the difference between pre-qualification and pre-approval for credit cards. Pre-qualification determines your eligibility for a card using basic financial information. Pre-approval is more thorough and involves a soft credit pull. In other words, It's a more accurate way to determine your creditworthiness.

Benefits of pre-approval credit cards

There are many benefits to applying for pre-approval credit card offers. Here's a look at why this is a great way to "shop" for credit cards:

Higher approval odds

With so many credit cards on the market, choosing one can be incredibly overwhelming. If you don't want to spend hours evaluating the different options to find one that may fit your needs, pre-approval is the best way to narrow it down. By applying for cards you've been pre-approved for, you'll narrow down your options and increase your odds of approval since you're applying for cards the banks have determined you likely qualify for.

Since pre-approval gives banks a preview of your credit profile, they can determine whether you meet the basic approval requirements. Assuming your credit doesn't incur any negative changes before you apply, your application for a pre-approved card is likely to be successful.

Minimal impact on credit score

The pre-approval process involves a soft inquiry on your credit, which doesn't impact your credit score.

Usually, a "hard" inquiry would result in a 3-5 point hit to your credit. This drop is temporary and rebounds pretty quickly, assuming you use your new credit line responsibly.

With a pre-approved credit card offer, you'll incur a hard pull only after you submit your complete application. By applying for a card you've been pre-approved for, you reduce the odds of incurring hard inquiries that don't result in an approval.

Finding pre-approval credit card offers

Finding pre-approval credit card offers is pretty straightforward. Most major banks offer pre-approval tools to generate a list of card offers. If you opt-in to receive offers via mail or email, banks will periodically target you for pre-approval offers. Before applying for any of these cards, be sure to review the terms and conditions carefully.

How to get a preapproved offer from American Express

There are several ways to get a pre-approval card offer from American Express. If you're not currently an American Express cardholder, you can use the pre-qualification form on the issuer website. This tool will tell you which credit cards you're eligible for in about 30 seconds.

Existing American Express cardholders can opt in to receive marketing materials to get pre-approved for card offers. Occasionally, cardmembers will also see pre-approval offers on their Amex Offers dashboard.

How to get a preapproved offer from Bank of America

Bank of America offers pre-approval offers through its Customized Offers page. You can log into your portal if you're an existing customer, or simply enter your name, date of birth and social security number to check for pre-approval on Bank of America credit cards. The tool is simple and quick, and it won't result in a hard inquiry on your credit report until you actually apply for a card.

Existing Bank of America customers can get preapproved offers by opting in for marketing materials. You'll periodically receive offers in the mail or via email, so be sure to check your spam filter.

How to get a preapproved offer from Chase

There are several ways to get preapproved offers from Chase. This issuer offers a pre-approval tool that conducts a soft pull to determine eligibility for certain cards. These cards include the ever-popular Chase Sapphire Preferred® Card, Chase Sapphire Reserve®, and many others.

Visiting a local bank branch is another way to check for pre-approval. This option works best for existing Chase customers. Sometimes, bank branches will offer better credit card welcome bonuses than the ones available online, so this method could pay off in more ways than one.

Of course, you can also stay home and wait for a pre-approved offer to arrive via mail or email.

How to get a preapproved offer from Capital One

Capital One has a pre-approval tool that allows you to see which cards you qualify for without affecting your credit score. This tool not only conducts a soft pull to determine your eligibilitybut also takes your spending and redemption preferences into account. For example, you can specify whether you prefer acard with no annual fee, one that earns travel rewards, or one that helps you build credit.

How to get a preapproved offer from Citi

You can get pre-approved credit card offers from Citi using the pre-screen tool. It works much the same as any pre-approval tool, but requires more information: In addition to your name and social security number, you'll need to provide your home address for verification purposes.

As with other bank preapproval processes, you won't incur a hard credit inquiry using Citi's pre-screen tool until you proceed with a credit card application.

How to get a preapproved offer from Discover

Discover offers a pre-approval tool on its website. By providing some basic information, you can check for pre-approved offers without impacting your credit score.

Discover asks for more information than most issuers including your education level, monthly rent or mortgage payments, income, and types of bank accounts open. You can also indicate which card benefits you prefer to get a more tailored recommendation.

How to get a preapproved offer from Wells Fargo

Wells Fargo provides a pre-qualification tool through its website. Existing customers can login to auto-fill the form. If you're not an existing customer, you'll need to provide your name, address and social security number.

Wells Fargo will then conduct a soft pull to determine which card (if any) you may prequalify for. This won't impact your credit score, but it's also not a guarantee that you'll be approved.

As noted before, a pre-qualification tool isn't as comprehensive as a pre-approval. Your approval odds are higher with a pre-approval tool since the issuer evaluates more of your personal information to determine your eligibility. Still, Wells Fargo's pre-qualification tool is better than incurring hard inquiries by blindly applying for credit cards.

Applying for a pre-approval credit card

When completing a pre-approval application, you'll enter basic information like your name, address, and social security number. Some banks will require more information, including income and mortgage/rent amount.

Once you complete the application, you'll be presented with a list of credit cards you're pre-approved for. If you decide to apply, you'll be directed to the full application.

Many banks will pre-fill the application form with the information you previously provided, to speed up the process. Once you submit the full application, the bank will run a full credit check to determine your eligibility.

Usually, you'll get either an approval or denial within minutes. Sometimes, your application needs more processing time. Rather than wait for an answer, it's best to be proactive and call the bank to speed up the process.

Sometimes, the bank must verify certain information such as a bank account or your home address before approving your application. Other times, the bank may ask for additional documents to approve your application. Since it might take time to obtain and process this information, it's always best to call the bank and get the ball rolling as soon as you apply.

What to do if your application is declined

If your credit card application is denied despite receiving pre-approval, you typically have up to 30 days to request a reconsideration. Here are some steps you can take if your application is rejected:

Review the reason for the decline

Banks sometimesstate the reason for denial. Other times, you'll need to call to get this information. Understanding why your application was denied can help you address any issues with your credit profile or successfully lobby for reconsideration.

Consider alternative cards

If your credit card application is denied, you can look into other options with lower credit score requirements. If you're still building or rebuilding credit, consider a secured credit card to improve your credit history for at least a year before reapplying.

Improve your credit

If you're set on a specific card and don't quite have the required score, you can work on improving your credit before applying for that card again. Be sure to read up on any credit card application rules before re-applying, to ensure you're still eligible.

Pre-approval credit card frequently asked questions