Pre approved credit card offers are what credit card companies generally give out their prospective clienteles. This is a way of enticing people to apply to credit cards being offered by various companies. These are sent either by mail correspondence or through a telephone solicitation done by sales representatives calling on behalf of their respective card companies.
If you’re one of those people who have been getting these calls and mail solicitations, then getting a view of some of the benefits that you can acquire is considered salient rather than ignoring the whole process and the chance of getting a free application.
However, before you get into the whole course of the application, you have to determine pre approved credit card offers from pre-selected ones. There are companies that provide pre-selected and pre-approved offers and distinguishing which ones are more advantageous would be highly suggested.
Pre-selected offers are known to be random selection done by companies and chances of getting approved in this kind of approach are diminutive. On the other hand, pre approved credit card offers have more advantages since these are people who have passed the initial credit criteria of a particular credit card company.
A lot of pre approved credit card offers have favorable and practical rates coupled with higher credit limit and cash advance options. Other credit card companies also offer balance transfers with 0% interest rate given a specified period of time. For this reason, a lot of credit card holders have been saving a lot of money given a 0% interest rate on both purchases and balance transfers as most companies offer no balance transfer and cash advance fees.
Some of the most prominent and recognized credit card companies that have pre-approved credit card offers are Capital One and Chase bank. These companies utilize either mail correspondence or a free telephone application enabling the client to get the card within 15 business days upon approval of the bank.
Receiving a pre-approved offer is a clear indication that you are a person of good standing and you’ve been managing your finances and establish stability when it comes to payment terms. This is how credit card companies determine your credit worthiness and this kind of offer serves as a good point on your part. The fact that you are pre-approve would also give you the opportunity to apply for loans and other banking transactions less complicated.
There are also other debtors who have been pre-approved by other bank yet, declined by some credit card companies. If given this kind of scenario, it would be best to grab pre approved credit card offers as a way of rebuilding your credit history into something favorable.
On the process of choosing which ones to apply for, it would be a good option if you go for a credit card company holding a reputable standing in the industry. They will not only give you good rates but also the security in giving out your personal information in the application process to avoid getting a fraudulent offer.