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Be Careful Of Pre-Approved Credit Card Offers Surely you have received countless pre approved credit card offers show up in your mailbox, but what are they exactly and why were they sent to you? The credit card companies pay the credit reporting agencies to... More

Be Careful Of Pre-Approved Credit Card Offers Surely you have received countless pre approved credit card offers show up in your mailbox, but what are they exactly and why were they sent to you? The credit card companies pay the credit reporting agencies to soft check their database and pull a list of potential cardholders based on certain criteria that they specify. They then take this list containing millions of consumers and send them an invitation to apply for the specified card and product. It is important that it is only an open invitation to apply for the card, and NOT a pre approval as the mailer might indicate. You must always read the fine print, and you will often find that it states you were selected for the offer based on some matching criteria, but it is not an approval. They will still need to perform a credit check when you do apply and the decision will be based on that. The mail pieces that they send out these days are more customized and the receiver will assume Less