How do I know if I pre-qualify for an HSBC credit card? This question is about HSBC Credit Cards

How do I know if I pre-qualify for an HSBC credit card?

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This question is about HSBC Credit Cards

Chip Lupo, Credit Card Writer

@CLoop • 03/23/23 This answer was first published on 03/23/23. For the most current information about a financial product, you should always check and confirm accuracy with the offering financial institution. Editorial and user-generated content is not provided, reviewed or endorsed by any company.

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HSBC has pre-approval, but it only extends pre-approved offers via mail or e-mail, or to existing customers through their online account. HSBC does not have an online tool that interested consumers can use to check their pre-approval status. And unlike online pre-approvals that may return results for multiple cards with the highest odds of approval, HSBC’s mailed or e-mailed pre-approval offers will be for one specific credit card.

If you wish to respond to a HSBC pre-approved offer received by mail or e-mail, visit the website listed in your offer and enter the enclosed invitation code. This allows HSBC to flag the application as pre-approved.

HSBC pre-approval doesn’t guarantee that you’ll be approved for a card, but it does indicate that your chances of getting approved are very high if you apply. Pre-approvals do not affect your credit score, as they’re done using a soft “pull,” or inquiry. But if you decide to apply for the card, HSBC will conduct a hard inquiry, which will lead to a slight, but temporary decrease in your credit score.

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What credit cards can I pre-qualify for?

To find a list of cards that you qualify for, check out WalletHub's free CardAdvisor tool.

It looks at things like your credit score & credit history, what you need the card for, etc. and give you a custom list of credit cards, tuned specifically to your needs & possibilities.

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What's the difference between pre-approved and pre-qualified credit cards?

Pre-approved and pre-qualified credit card offers both indicate that a potential applicant is likely to be approved, but they are used in slightly different situations. Being pre-approved means the issuer sent you an offer, while pre-qualification usually means you checked your approval odds through the issuer’s website. However, the terms are often used interchangeably.

Both pre-approved and pre-qualified credit card offers have no effect on your credit standing, as issuers only use a soft pull...

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What does prequalified mean for a 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 pre-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...

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