Does a Credit Card Preapproval Offer Guarantee You’ll Get It?

A true preapproval means you'll almost certainly get the card if you apply. But be aware of the difference between preapproval and pre-qualification. And in some cases, preapproval can even be a red flag.
Am I Guaranteed to Qualify for a Pre-approved Credit Card?

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If you get a notification from a credit card issuer that you've been "preapproved" for a credit card, your odds of getting that card if you apply are quite high.

That's because credit card preapproval offers often come from a financial institution you already do business with, or from an issuer affiliated with such an institution. They send these preapproval offers because they already know you, they consider you a valuable customer and want to do more business with you, and they already have the information they need to assess your creditworthiness.

However, this may not be the case if you've only been "pre-qualified" as opposed to preapproved.

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The terms "preapproved" and "pre-qualified" are similar, and some issuers even use them interchangeably. But there's an important distinction. In general:

To make things even more confusing, both can also be referred to as "prescreened" offers.

With installment loans, such as mortgages and car loans, the difference between pre-qualification and preapproval is more clearly defined, and it's not uncommon for consumers to  as they get closer to a decision. As you start looking for a house, for example, pre-qualification gives you an idea of how much you'll be able to borrow. Getting preapproved allows you to make a firm offer to the seller when you find what you want.

With credit cards, on the other hand, you don’t typically need that kind of advance approval. So pre-qualification is much more common than true preapproval. In fact, receiving an unsolicited guarantee of approval from a credit card issuer can be a red flag. That’s because some issuers promise preapproval in the hopes of selling you on a card you don’t necessarily need or want. They may come from issuers that specialize in "" cards for people with , which tend to carry extremely high fees.

Review any preapproved credit card offer you receive skeptically before applying to make sure it's the right choice for you.

If you'd prefer not to get prescreened offers in the mail, by going to optoutprescreen.com, which is run by the consumer credit reporting bureaus. You can sign up to opt out of prescreened offers for five years or permanently.

Many major credit card issuers and some smaller ones  on their websites. The issuer typically asks for personal information, including your name and address and some or all of your Social Security number. It uses that information to run a "soft" check of your credit, which is one that doesn't affect your credit scores.

In some cases, you'll be able to see not only the card you pre-qualify for, but also the exact terms of the offer — such as the credit limit and interest rate — before you apply. These kinds of pre-qualfications are more specific and detailed and may even amount to a preapproval, but you still have to formally apply for the card.

If you decide to apply for the card based on that information, the issuer will go ahead and run the hard credit check. It will likely ding your score, but you'll have more assurance of approval.

You can also make your own best guess about whether you’ll be approved for a card by . Some credit cards are available only to those with excellent credit, or good to excellent credit.

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