Credit Cards For Beginners || What Does Pre-Approval Mean?

subject for approval what does it mean? is it pre approval?

Great Video Bro’

Thank you this helped me understand a lot I started receiving so many pre qualified and pre approved letters in the past two weeks

With Chase cards, I have heard that if the pre-approval gives a specific APR value like X% rather than a range X% - Y%, then it is more or less a guaranteed approval (subject to you meeting their 5/24 qualification rules etc., of course).

How do they know how much money you make?

Thank you

If I was denied the pre-approval process for all Discover cards will I get approved for the Discovery it secure?

The whole Credit system is faulty and broken.

I have never thought that those offers in the mail as pre approved but just pre qualify. I got a pre approved for the Chase Sapphire Preferred with an interest rate and credit line so I look at as being pre qualified. I didn’t except it but did go after and got approved for a Chase business ink instead.

Do they still do a hard inquiry even tho you're "Pre Approved'?

That was an excellent explanation. Thank You

Does pre approval do hard inquiry.? I got capital one platinum....I don’t want any hard inquiry

Thanks i get them all the time and all they do is pull your credit make ur score go down and still dont receive the card at most time credit card companies are real flakey at times

Good information!

Thanks

Late to the party, but here

This was a great pointer.

Off topic, but any chance you could do any UK cards? Vanquis? Aqua card? I understand you may not know much about them though.

Needed to hear this. Also shared with my little brother since we both get so many of these pre-approved in the mail often. I usually just throw them away after I cut them up.

does all CC look at all 3 credit Reports?

Hmm Thanks for clearing this up. Make sense

I got an approval from Chase! Not a pre-approval. With credit line and terms all I have to do is click yes.

I was so wrong

I recently got a pre approval from bank of America in the mail. Will they do a hard pull when I submit it?

Good information

How about a comparison of business credit cards?

Very good explanation of all applicable areas of the credit granting process.

Matt,


Great content and video I always thought for the most part if you were pre-approved you were pretty much golden. Nice to know that it's not always the case this is just another your miles may very with the banks.

Debt again, this is going to be so bad for people who is so in debt..

The score is not the same as they seen, lower, then you gotta have issues.. oh god why does this exist ..

needed that thx

thx for the info man

Great video!

Thank for clearing this up. Good info.

You have a higher probability you will get the card if it's pre approved. It's not a 100% but it's in your favor. I have seen this over 32 years.

Hey Matt, this is a great video; however, I wanted to know what you think about this new credit card management site (walletflo.com)? I'm starting to attain more cards so I want a way to manage all of them... Do you use @t?

FoSho!!

Hmm 🤔 Thanks for clearing this up. I’ve always thought you won’t get denied when PRE-APPROVED. I agree with the SSN and they just want our data 😠 “Data is the oil of the 21st century” - Andrew Yang

I answered all my pre-approval but they decided me anyway

Knowing is have the battle. 😆

Hi Matt - Do you think that the Amex Pre Qualified website worth a credit card candidate's time??

Reason people are asking you these question is, they are Not reading the fine print. It clearly states is an offer, no guarantee of approval

I got pre-approved for the double cash and Citibank's balance transfer card got denied for both even after calling the reconsideration line. When they send you these offers they do soft credit pulls in certain demographic areas. When they do it you maybe a good candidate at the time. Things change

Good information to know, because no one needs unnecessary hard pulls after a rejection.

Thankfully I’ve never been denied. I’ve never really pushed it too far tho

Golfing!

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