Do credit card pre-approvals hurt your credit score?

Getting pre-approved for a credit card won’t hurt your credit scores if the card issuer uses a soft credit inquiry (rather than a hard credit inquiry) to determine whether you’re eligible. 

What you’ll learn:

• Pre-approval can help give you an idea of which cards you’re likely to be approved for. 

• You might receive an offer from a credit card issuer if you meet basic eligibility requirements. Or you could check whether you’re pre-approved on your own.

• Credit card pre-approval shouldn’t affect your credit scores if the process involves a soft credit inquiry.

• Applying for a credit card after you’re pre-approved could require a hard credit inquiry, which could cause your credit scores to drop temporarily.

When you’re pre-approved for a credit card, it typically means the card issuer has run a soft inquiry and determined that you meet the basic eligibility requirements for the card.

Credit card pre-approval—card issuers might also use the term pre-qualification or pre-screening—allows you to check credit card offers from card issuers. You may see an option to get pre-approved when you’re looking at cards online. Or you may receive an offer by mail. 

At Capital One, you can find out whether you’re pre-approved for a Capital One credit card before applying. It’s quick, and it won’t hurt your credit scores.

If you’d rather not receive pre-approval offers, you can opt out at optoutprescreen.com or by calling 888-5-OPT-OUT (888-567-8688).

Credit card pre-approval doesn’t affect credit scores if it involves a soft credit inquiry.

According to FICO®, most people see a drop of less than five points in their FICO scores after a hard inquiry. The credit scorer also says the inquiry only affects FICO scores for 12 months.

Even so, the Consumer Financial Protection Bureau (CFPB) recommends only applying for the credit you need. Applying for several credit cards in a short period could hurt your credit scores and look bad to lenders.

Yes, you may still get denied for a credit card even after you’ve been pre-approved. While the credit card issuer may have determined you’re a good candidate for the card based on information in your credit reports, the official approval will be determined after performing a hard inquiry.

Getting pre-approved can indicate that you’ve met the basic requirements for approval and help speed up the process. 

Additional benefits of pre-approval may include:

• No harm to your credit scores: If pre-approval involves a soft inquiry, it won’t hurt your credit scores. And getting pre-approved could help you avoid unnecessary hard inquiries, which can cause your scores to drop temporarily. 

• Simplified comparison of card terms: Once you know which cards you’re more likely to be approved for, you can look more closely at interest rates, fees and benefits to find the best fit.

• Possible eligibility for promotions: If an issuer sends you a pre-screened offer, it could include a 0% introductory annual percentage rate (APR) or  welcome bonus.

Improving your chances for credit card pre-approval could involve steps you might take to improve your credit scores, including:

• Checking your credit reports: CreditWise from Capital One allows you to access your credit report and credit score for free. You don’t have to be a Capital One cardholder, and using CreditWise won’t impact your credit scores. You can also get free copies of your credit reports from each of the three major credit bureaus at AnnualCreditReport.com.

• Making on-time payments: According to the CFPB, paying bills on time, every time, is one of the most important factors in building credit. To help with on-time payments, the agency suggests setting up automatic payments or electronic reminders.

• Lowering your credit utilization ratio: The CFPB recommends keeping your credit utilization ratio under 30% of your total credit limit. This ratio is the amount of credit you’re using across all your revolving credit accounts compared with your total available credit.

• Applying only for the credit you need: Applying for too many lines of credit in a short time can damage your credit score and may give lenders the impression that you’re facing financial difficulties.

Pre-approval won’t hurt your credit scores if it involves a soft credit inquiry. And checking for pre-approved offers may help you narrow your credit card search and avoid unnecessary hard inquiries. 

If you’re ready to look for your next credit card, Capital One can help.

• Check whether you’re pre-approved for a Capital One credit card before applying. It’s quick, and it won’t hurt your credit scores.

• Explore cards for people with fair credit if you’re looking to build credit with responsible use.

• Earn unlimited rewards on every purchase, every day, with a cash back rewards card. 

• Use CreditWise to access your credit report and score for free.