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Pre-Approved Credit Cards: Everything You Need to Know

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Created on
April 25, 2023


What’s Inside

Have you ever received a call stating you're approved for a credit card? Your bank or a credit issuing company may offer you this service. If you need a credit card, this can be a fantastic opportunity. It’s important that you don’t rush in these situations. The offer indicates that you cleared the credit card pre-approval check and are eligible for the card. However, you still need to apply for the card to receive it.

Is it okay to accept such a card offer? Let’s find out all about it here.

How Do Pre-Approved Credit Cards Work?

Credit card companies who have access to your credit history analyse it thoroughly. They'll mark you as qualified for a credit card if you meet their criteria. That's when you receive a call or an email about a pre-approved credit card.

Banks and lenders with whom you have an account will contact you about this card. Other companies can also contact you about a pre-approved card. If you're interested, then you need to apply to actually get the card.

You have to provide extensive details to initiate the process.

The criteria might differ for these financial firms. Some may look into your credit scores, while others might focus on the payment history.

Responding To Pre-Approved Credit Card Offers

You can contact the bank or the lender about the card using their official contact number. If you get a call, they'll explain to you the next steps. In addition, you may click on any links or fill up forms included in the credit card emails sent to you.

During the process, additional personal and financial information might be required.

The system will be different from pre qualify credit cards, where you ask the bank about your credit card eligibility.

Advantages of Pre-Approved Credit Cards

Pre-approved credit cards might save you time in the application and screening process. It’s because the banks have already done it for you. There are other benefits of these cards you might consider –

  • You can get sign-up bonuses and multiple card rewards for dining or travelling.
  • More affordable interest rates than standard credit cards
  • No extensive searching for eligible credit card companies
  • Special benefits like a low Annual Percentage Rate can improve your savings

Moreover, you can get started with the application process for pre-approved credit cards from the comfort of your home.

Parting Thoughts

While researching “What is a pre-approved credit card”, take your time. Check out the associated fees, sign-up bonuses, credit requirements and related banks. It’s best to accept credit card offers from trustworthy banks or lenders to avoid issues later on.

Also, read the financial documents, terms and conditions before signing up. You can check out the latest credit card offering from Fi Money. The 5% credit card is easy to use and offers up to welcome bonus vouchers worth INR 5000!

Frequently Asked Questions

1. What Does Pre-Approved For A Credit Card Mean?

A pre-approved credit card means the associated provider has found you eligible for the card based on your credit history.

2. Can You Trust Pre-Approved Credit Cards?

Yes, you can trust pre-approved credit cards offed by reputed banks or card providers. The card offer actually shows how good your credit history is.

3. Can You Get Denied After Pre-Approval Credit Card?

Your credit card application may get rejected if you fail to meet some criteria. The reasons might be insufficient income or applying for multiple cards at once.

4. What Is Pre-Approved Credit Limit?

The pre-approved credit limit solely depends upon the bank or credit card provider's financial criteria.


Fi Money is not a bank; it offers banking services through licensed partners and investment services through epiFi Wealth Pvt. Ltd. and its partners. This post is for information only and is not professional financial advice.
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