General Question

milk42's avatar

Is it better to apply for credit card through pre approved or if you apply on your own?

Asked by milk42 (1points) August 8th, 2010

If we apply through pre-approved credit card offer,would it affect our credit score lesser than if we apply for credit card on our own?

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7 Answers

CMaz's avatar


It is a marketing scam. Nothing more. You will still have to go through an approval process and if not approved. A negative on your credit report.
Not to say that the credit company that sent you the application is bogus. It’s the tactic they are using to suck you in, that is WRONG.

But, being pre-approved does make you feel special. That being the point
If you don’t need a card, don’t get one. You will be better off without one.

marinelife's avatar

Usually, if they are marketing their credit cards, it is not one with a desirable interest rate.

MrItty's avatar

“pre-approved” is a joke. It’s just a sales pitch. It has absolutely no meaning whatsoever. Read the fine print on the offer. It will contain legalize to the effect of “subject to verification of credit history” or something similar. You are not “pre-approved” in any way that makes sense in English.

john65pennington's avatar

Leave anything marked “pre-approved” alone. leave credit cards alone. if you must have one, then apply at a bank and use only one and keep the payments ahead, if possible. plastic credit cards are ruining America. just go into any Bankruptcy Court in America and see for yourself. why not apply and receive just a debit card? if the money is not there, you are going to have to save for your next purchase. this will also save your credit rating, which a credit card can destroy.

MrItty's avatar

@john65pennington Not having any credit card is far more likely to give you a bad credit rating than having one and using it wisely.

JLeslie's avatar

It is a marketing/advertising method, but sometimes there are special offers on those mailings that are worth looking at if you are in the market for a new card.

I will disgree with some above and say that credit cards are fantastic. (I am not talking about debit cards, only creidt) if you pay them off every month in full. You can get airline miles, or money back, or free hotel stays, depends what interests you. There are legal protections if your card is stolen, if someone steals your cash, it’s gone. During times when banks give decent interest (which granted is not happeneing right now) you don’t need to pay until 2–5 weeks after your purchase, giving you that time to earn interest on your money.

BUT, you have to pay on-time in full so you don’t incur any fees or interest. Over the last 20 years I figure I have saved a few thousand using credit cards all of the time, but I never buy anything unless I can afford it in full when I buy it. Also, I only keep a few credit cards so it is easy to keep track of, and my spending adds up fast on one or two cards, so I see the benefits quickly.

MrItty's avatar

@JLeslie Exactly. I have three or four cards. I only use one. And I pay that one off every month, the full balance. It simply accumulates free filghts for me. It also accumulates interest in my bank account, as my money is still making interest for 30 days after I’ve made the purchase.

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