Pre-screened credit companies offer cards based on credit scores and more

If your buddy has been receiving pre-screened credit card offers, chances are that he is one of the ‘potentially desirable customers’  as far as the card companies are concerned. However, just receiving the pre-screened credit card offers in your mailbox doesn’t mean you have one already. If you are interested you will have to apply. And then only will the actual processing be initiated.

When companies offer the card, it means the user meets certain initial criteria the card companies are looking for in potential new customers based on limited data it has about the user.  So it doesn’t make much sense to outrightly discard credit card offers. You just need to be selective. And yes, it is perfectly safe to scan the offers before sending them to the trash. But before that it is always nice if the user runs a credit score check of his account.

How it works

Credit card companies pull the user’s credit report which is a hard inquiry. Though this has a minor negative effect on the user's credit score and it is temporary. Hence, the user should use his discretion and apply for the offer with immense care. Scan and compare offers of other credit card companies and even research the lenders independently, look out for annual fee and rewards programmes, cashback, etc.

What to look out for?

Credit companies that offer good perks have a good credit card. It doesn’t make much sense unless the rewards are luring. The best part about pre-screened offers is that it provides its users with product choices, better rates and terms than most other offers usually available in the market. Remember, the credit card industry is on a boom and all of them are offering competitive offers. A credit card must best suit the user’s lifestyle and financial situation. So, it is important to read the offers carefully and opt for the best deals.

The final step:  

Once the user applies the company will review the application to determine whether the credit history meets the criteria it had offered the user. Credit card companies will take a look at the user’s credit report or verify his income. Sometimes, the applications of pre-screened users too get disapproved for various reasons including poor credit score, income, inability to pay, etc. It is the credit card company is the one that works and approves on the user’s eligibility to possess a credit card.

As far as credit cards are concerned, pre-approved, pre-qualified, and pre-screened credit cards, all mean the same.  Users who haven’t received a pre-screened credit card offer need not feel disheartened. It doesn’t mean they do not qualify for it. They can apply for one on their own and suit their requirement and get the best deals.

Log on to https://creditsscore.in/ for more information.