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

Question

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 answer 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 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.

show less

Answer 1 · 2017-12-11 18:16:43

WalletHub, Financial Company

@WalletHub 12/11/17

Permalink Report

There’s no way to proactively check if you pre-qualify for an HSBC credit card. Sure, HSBC mails pre-approved credit card offers to potential applicants whose basic credit profiles indicate they will have a very good chance of getting approved. But you can’t request one. HSBC credit card pre-approval is invite-only, in other words.

But even though HSBC won’t let you check whether you pre-qualify, you can still take similar steps to determine whether applying is a good idea. Basically, you can pre-qualify yourself for an HSBC credit card by seeing how well you meet your chosen card’s approval requirements. Just bear in mind that official pre-approval typically gives you a roughly 90% chance of actually getting an account when you apply. So barely meeting a card’s minimum requirements may not cut it.

Here’s how to (pre) qualify for an HSBC credit card:

All HSBC credit cards require good or excellent credit. Generally, good credit starts at a score of 660, and excellent credit begins at 719. However, we recommend considering good and excellent credit to mean 700+ and 750+, respectively. Your approval odds won’t be very good if you barely meet a card’s minimum requirements, after all.

You can check your latest credit score for free on WalletHub.

You must demonstrate the ability to pay an HSBC credit card’s monthly bills. Unfortunately, that’s hard to estimate because HSBC doesn’t disclosure its cards’ minimum credit limits.
You need $100,000+ in an HSBC bank account to get the HSBC Premier Mastercard and $10,000+ to get the HSBC Advance Mastercard.

In short, there’s no way to tell if you pre-qualify for an HSBC credit card. But if you have good to excellent credit, applying for an HSBC card might be worth a shot. If your credit is bad, fair, or limited, don’t worry. You may not be eligible for one of HSBC’s credit cards, but there are still plenty of offers from other issuers.

Answer 2 · 2018-02-07 17:56:53

Raymond Black, Member

@blackraymond3 02/07/18

Permalink Report

The only way you'll know is if you get the letter in the mail. Otherwise, just make sure your score is above the minimum requirement, and hope for the best.

Sadik Twal @sadikt
I received a letter and still didn't get approved.

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

WalletHub, Financial Company

Raymond Black, Member

People also ask

What does prequalified mean for a credit card?

Can anyone tell me where to find credit cards that use Equifax?

Join WalletHub