Pre-approved credit card offers: what you really need to know


Is your mailbox filling up with “preapproved” credit card offers? Consider these helpful tips in understanding your options.

Even though the solicitation may indicate you’re pre-qualified, that simply means you meet select criteria for consideration obtained from your credit reporting. An official approval will typically not be issued, however, until a final application is completed on your behalf, taking into consideration your ability to pay on future debts.

Pre-qualified offers are considered soft pulls on your credit history, and will not damage your current credit score. However, if you do apply for the card, a hard inquiry will result, which could effect your credit score.

Always read the fine print, being aware of balance transfer fees that may add up to 3% or more of the transferring balance. Looking to opt out of future mailings? Simply visit to select your preference to receive future solicitations.

WOTV 4 women’s finance expert Nancy Loftis

Visit Advia  credit union

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