![]() People with high credit scores, a positive credit history, and high income can typically qualify for more kinds of credit. The credit cards you qualify for depend on your credit score, your credit history, and your income. What credit cards can I get with Discover? Since the request for pre-approval only results in a soft inquiry, there is no impact to your credit score. The Discover pre-approval tool can tell you what kind of credit cards you may qualify for with no harm to your credit. ![]() How do I find out if I’m pre-approved for a Discover card? There may be other factors such as housing information that an issuer may consider. IncomeĪ credit card issuer will use your income to determine whether you get a new credit card and, if so, how much credit they can give you. ![]() By contrast, you’ll probably have a hard time qualifying for the best benefits lenders have to offer with a lower credit score. If you have good scores, you’re seen as a lower-risk borrower for lenders, which makes you more likely to score favorable interest rates and bonuses on your next card. Your credit score helps lenders decide what interest rates to offer you and what credit cards you can get. Things that affect your FICO® Score include missed credit card payments, credit utilization, age of your credit accounts, and your credit mix. Here are examples of the types of information that a credit card company may review: Credit scoreĪccording to the Consumer Financial Protection Bureau, your credit score tells a lender how likely you are to repay your credit card balance on time. Most FICO® Credit Scores range from 300 to 850 and are calculated based on your unique credit history. Your credit cards are essentially loans you get from a credit card issuer, so before approving you for a credit card, credit providers look at your credit history to determine how likely you are to pay your credit card bill. How do lenders decide if I qualify for a credit card? Which means you could compare cards for the best perks, like 0% introductory APR, introductory bonuses, and appealing cash back rewards. You can receive unique credit card offersĪlso, since pre-approval means a card company won’t ding your credit score when you request offers, you can browse all an issuer’s card options. If you receive a pre-approved credit card offer, you’ll likely qualify for the card, unless you have had recent negative changes to your credit report and score. You save time by applying only when you know you’re pre-approved for the card When you submit an actual application for a credit card, the lender places a hard credit inquiry on your credit file, which can impact your credit score. Pre-approval gives you these benefits: You avoid hurting your credit scoreĬredit card issuers usually place a soft credit inquiry on your credit report when they check whether you’re pre-approved for the card, and this does not affect your credit score. Pre-approval means the card issuer feels confident you can be approved for a credit card. Why you should check if you’re pre-approved for a card Once you apply for credit, the lender still must place a hard inquiry on your credit file, which can affect your credit. It’s important to remember that pre-approval doesn’t always guarantee credit card approval. Pre-approvals use soft inquiries, which don’t affect your credit score because you haven’t applied for credit. You may receive a pre-approval offer, or you can use an online tool to find out what credit cards you may be qualified for before you apply. How do I get pre-approved for a credit card? If you’ve received a credit card offer that says “pre-approved,” that likely means your credit score and financial history match at least some of a card issuer’s criteria.
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