You can check your Quicksilver pre-approval status online. The process should only take a few minutes. Just complete the questionnaire and click “See Your Card Offers.” The Capital One pre-approval tool is not specific to the Quicksilver card, so it will display all the Capital One cards for which you’re likely to be approved. The results are based on your responses and a preliminary review of your credit. This review is known as a soft inquiry and does not affect your credit score. You can should also check your credit score before you complete the questionnaire to better assess your odds of approval. Applicants generally need good or excellent credit for good odds.
If you’ve received a Capital One Quicksilver pre-approval offer in the mail, that means you’re already pre-approved. Capital One has initiated a soft inquiry and determined that you would likely qualify. To apply, visit the Capital One Welcome Page and enter the Reservation Number and Access Code from the pre-approval letter. You will need this information in order to have the application flagged as pre-approved.
Capital One Quicksilver pre-approval doesn’t guarantee approval, but the odds of being approved are in your favor. Most applicants who get pre-approval are approved, but you will have to submit a formal application. When you apply, Capital One will request permission to pull your full credit report. This is called a hard inquiry, and it will cause your credit score to dip a few points. Taking advantage of the pre-approval feature allows you to avoid having too many hard inquiries in a short period of time because you can apply only for cards with good approval odds.
Capital One® Quicksilver® Cash Rewards Credit Card
Being pre-qualified for a credit card means the issuer has done a soft pull of your credit history and concluded that you are a good fit. It also means you have an 80%+ chance of acceptance if you decide to apply for the card in question. It’s very similar to … read full answerpre-approval in those regards. The main difference is who makes the first move. If a credit card company sends you an offer, it’s probably pre-approval. But if you check yourself, on an issuer’s website or by visiting a branch, it’s pre-qualification. However, the distinction is small enough that people often use the terms interchangeably.
Some issuers let you check of pre-qualification online, while others only send offers in the mail. And if you don’t want to get offers, you can opt not to receive them at OptOutPrescreen.com But prequalification can be a big help in choosing which card to apply for, since it helps you limit applications to your most likely options.
Here’s what getting pre-qualified for a credit card means for you:
American Express, Bank of America, Capital One, Chase, Citibank, and Discover all let you check for prequalification online. You’ll need to provide your full name and Social Security number. You may also have to provide your birthday and home address. You’ll then be shown which cards (if any) you prequalify for, along with an application link.
If you get a pre-approved offer in the mail, it will come with a code that you can use to respond to the offer on the credit card company’s website. But they’ll also send you a paper application that you can fill out and mail back if you prefer.
Whether you’re pre-approved or pre-qualified, you still need to apply, and you aren’t guaranteed acceptance. But you do have a very strong chance.
Getting pre-qualified for a credit card means you can apply knowing that you probably aren’t wasting a hard inquiry on a long shot. And if you sign up for WalletHub, you’ll get personalized credit analysis with card recommendations tailored to suit your circumstances as well.
The best pre-approved credit cards are really just the top cards that you can see if you pre-qualify for before actually submitting an application. And you can’t check to see if you pre-qualify for one card in particular, at least not directly. Rather, a credit card company will tell you which of its cards you’re pre-approved for. If that happens to include the card you’re targeting, you’ll know your odds of being approved are … read full answerextremely high, should you decide to apply. If your chosen card isn’t listed, there’s still a chance you could get approved, but it’s not a good sign.
Checking for pre-approval is definitely a good idea. It lets you gauge your chances of success before risking a hard pull on your credit. And the better your credit is, the better the credit cards you pre-qualify for will be, too. Your odds of actually getting approved when you apply will also be higher.
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