How to Get Pre-Approved for Credit Cards Without a Hard Pull
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Credit cards offer a variety of benefits and come in many forms, making the selection process somewhat daunting. This task becomes even more challenging when you're unsure about how to prequalify for credit cards. Fortunately, you can secure pre-approval for a range of cards without undergoing a hard pull, which could lower your credit score.
The main steps to take for credit card pre-approval include the following:
- Checking your credit score;
- Choosing cards that suit your credit score range and preferences;
- Visiting the official card issuer’s website and completing the pre-approval form with your basic information.
In this article, we’ll explore in detail about how to get preapproved for a credit card and what you need to consider throughout the process.
Why Is It Important to Check Your Credit Score?
Before taking steps to be pre-approved for a credit card, checking your credit score can save you time and effort. If you discover your credit score is on the lower side, you will want to get preapproved for a credit card that is compatible with your current rating. Additionally, knowing your score allows you to take measures to improve it before applying.
Get Your Free Credit Report
Every U.S. resident is entitled to a free credit report from the three major credit bureaus—TransUnion, Equifax, and Experian—once a year. You can obtain it via the official website, AnnualCreditReport.com.
Another option is to use services like Credit Karma, which provides free credit scores and reports from Equifax and TransUnion. This platform requires no credit card for registration and updates every week, making it a convenient tool.
Improving Your Credit Score
If your credit score isn’t where you’d like it to be, you can take steps to improve it:
- Make timely payments; If you struggle with keeping track of monthly bills, you should set up automatic payments or due-date alerts or even to avoid missed payments.
- Reduce your credit utilization: Another essential thing to do is to keep your credit utilization ratio below 30%. If you can, aim for 10% or less to improve your score more quickly.
Compare Credit Cards and Find the Best Option
When exploring cards that offer pre-approval, use online tools like Card Match to compare available options.
During your research, keep in mind these factors:
- Type of card you want—cashback, rewards, travel points, or other features;
- Annual and transactional charges;
- Whether you need a balance transfer card;
- Whether your credit score aligns with the card requirements.
Here, you can take a look at some of the popular options. By choosing one of these, you can prequalify for a credit card without affecting your credit score.
Upgrade Cash Rewards Visa Card
This card offers fixed monthly payments. If you don’t fully pay off a bill, a fixed interest rate will be charged on the remaining balance. Prequalification allows you to see your potential credit limit. This card provides 1.5% cashback and comes with no annual fee.
Capital One QuicksilverOne Cash Rewards Card
You are welcome to apply for this Capital One card with an average credit score. It should be noted that you can prequalify for it only on Capital One’s website. The card has a $39 annual fee and offers 1.5% cashback on purchases. After six months of on-time payments, cardowners may be eligible for a credit limit increase.
How to Submit an Online Pre-Approval Request?
To request pre-approval, you need to visit the card issuer’s website and complete the corresponding form. Typically, the only information you’re required to provide includes:
- Full name;
- Date of birth;
- Address;
- Social Security Number (full or last 4 digits).
To boost your likelihood of being prequalified, consider this strategy:
- Apply only for cards that match your credit score: If improving your score isn’t an option due to time constraints, narrowing your applications to cards that suit your profile can minimize the risk of rejection.
- Consider secured cards: The credit score requirements for such cards are lower, as they are designed to help build or rebuild your credit score.
Factors to Consider When Choosing the Best Pre-Approval Offers
Once you have sent your pre-approval requests, you will get offers if you meet the criteria. If you have several pre-approved cards, and you don’t know which one to choose, evaluate the options carefully before making a final decision. Consider the following:
- Determine whether the card’s fees are justifiable based on how often you’ll use it.
- Choose a card with rewards that align with your spending habits.
- Take a look at any additional charges, including international ones if you plan to use the card abroad.
- Carefully compare the APR of cards of your pre-approved cards, especially if you anticipate carrying a balance.
Keep in mind that once you proceed with a pre-approval offer, the lender will perform a hard inquiry, which can temporarily lower your credit score. For this reason, you should choose wisely.
Final Thoughts
Credit card pre-approval is an effective way to assess your eligibility without impacting your credit score. The best thing about this process is that it is particularly beneficial for individuals with average or lower scores.
In the majority of cases, you can send a pre-approval request online with minimal information required. By checking whether you will be pre-approved for credit cards, you can streamline your search and avoid unnecessary hard pulls, making it easier to find the card that best fits your needs.
