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Pre Approved |
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Receiving pre-approved credit offers doesn't necessarily mean that you're going to get a new credit card. It just means that, at first glance, you seem to meet the lender's requirements. The lenders make that "first glance" by automatically scanning credit bureau records looking for people who appear to meet their lending requirements. If your credit profile is a match, the pre-approved credit offer comes in the mail.
Once you complete the short application that comes with the pre-approved credit offer, the lender examines it to make sure that you still met their lending requirements. If all is well, the card arrives in the mail.
If you don't want to receive pre-approved credit offers, you can contact the three major credit bureaus, TransUnion, Equifax, and Experian, and tell them that you want to "opt out" from receiving pre-approved credit offers. You'll have to fill out some forms and send them back in. The offers should stop within weeks.
One reason that you might want to consider opting out of receiving pre-approved credit offers is that they are a dead give-away for identity thieves who pour through people's mail that gets thrown out. When they see an envelope with big headlines saying "You're Pre Approved!", they know that they hit a gold mine.
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Credit Card Definitions > N - Z > Pre Approved
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