Pre-Approved Credit Cards: All You Need To Know To Get Instant Credit

  • Updated on: 3 Jan 2024
  • Published on: 21 Nov 2023
Pre-Approved Credit Cards: All You Need To Know To Get Instant Credit

Pre-approved credit cards help you get instant credit, which you can use to manage your unplanned or planned expenses. You can get these cards from the issuer when you meet certain eligibility terms. This way, you can get the required credit without waiting for approval.

While getting such an offer may sound exciting, it’s important to ssess the pros and cons before opting for the card. Read on to know what is a pre-approved credit card, what to consider when accepting an offer, and more. 

Pre-Approved Credit Cards: All You Need to Know 

Most card issuers provide pre-approved credit card offers to existing customers based on their profile and eligibility. With a pre-approved offer, you can get fast access to a credit card. 

In most cases, you don’t need to attach identity and address proofs or fill a lengthy application form. This is because your issuer has this paperwork on hand and also has your credit score, so the approval process is quicker.

Card issuers make these offers available after assessing your income, credit score and other factors determining your eligibility. Based on this, they prepare an offer with your credit card limit.

That said, keep in mind that getting such an offer doesn’t necessarily mean 100% chances of approval. The issuer may run a credit check again when you apply for pre-approved credit cards. If you do not suit the terms to qualify at this point in time, you will not be able to get approval. However, this is rare as pre-approved offers are based on the recent past and come with a limited time period. 

Also Check: Instant Cash Loan In 5 Min

Essential Points to Know About Pre-Approved Credit Card Offers

Here are a few crucial factors to consider before you apply for a pre-approved credit card:

  • Maintain a good credit score and a strong credit history to receive pre-approved offers 
  • Review the credit card’s terms and conditions to avoid any unexpected charges
  • Check the conditions and validity of such offers to ensure you choose a feasible option
  • Assess if you need the card based on your existing debt and income
  • Compare different offers to ensure that you choose the best credit card 
  • Evaluate your lifestyle and financial requirements to decide on the type of card, the credit limit you want and more before signing on 

When to Apply for a Pre-Approved Credit Card? 

There is no right time to get pre-approved credit cards. These offers are rolled out by issuers on a periodic basis and during festive seasons. So, when you get such an offer, consider if opting for it is right for your finances. 

If your debt obligations are higher, it is ideal to not opt for a credit card. On the contrary, if you can easily manage your finances, you can opt for a personal loan. Before finalising your decision, assess the fees and charges and choose one that best fits your budget without overburdening your finances.

Consider these vital points before you zero in on a card and enjoy pre-approved credit card offers. One credit card you can add to your wallet is the Fibe Axis Bank Credit Card

With this credit card, you can make seamless UPI payments, get up to 3% cashback*, enjoy fuel surcharge waivers and much more. Moreover, as India’s first numberless credit card, it offers an extra layer of protection! Download the Fibe Personal Loan App or register on the website to apply online in just a few steps.

FAQs on Pre-Approved Credit Cards

Is it reasonable to accept pre-approved credit card offers?

Depending on your needs and repayment capacity, a pre-approved credit card offer can be an ideal solution to boost your purchasing power. However, do not blindly accept the deal because the card is pre-approved. Read the terms and conditions and decide based on your requirements. 

Can pre-approved credit cards be rejected?

Yes. There is a possibility for rejection if your current eligibility parameters don’t match those of your card issuer.

What do you mean by a pre-approved credit limit?

A pre-approved limit for a credit card is the maximum limit sanctioned by your issuer. The issuer fixes this limit after assessing your credit standing and other parameters.

What happens after pre-approval of a credit card?

Once your issuer sends you a pre-approved credit card offer, you can opt for it and apply on the issuer’s website. The issuer reviews your form and checks various parameters before approving the offer.


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