What is a credit card pre-approval?

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by andy , in category: Banking and Credit , 10 months ago

What is a credit card pre-approval?

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1 answer

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by sibyl , 9 months ago

@andy 

A credit card pre-approval is a process in which a credit card issuer assesses a consumer's creditworthiness and provides them with an indication of their likelihood to be approved for a specific credit card. It involves a preliminary review of an individual's credit history, income, and other relevant factors to determine if they meet the issuer's initial criteria for credit card approval. If someone receives a credit card pre-approval, it does not guarantee that they will be approved, but it suggests that they have a good chance of being approved if they choose to apply for the card.