How to See if You’re Prequalified for Credit Cards

iQuanti: Credit cards are great financial tools that let you earn rewards on your everyday purchases while helping you build your credit score. And some offer extra perks, like special discounts or travel benefits.
But applying for new credit cards triggers hard inquiries, which can harm your score. If denied, you’ll have to deal with that slight credit damage without even getting your card.
Luckily, you can get prequalified to avoid harming your score while finding a card you’re likely to get approved for. Let’s dive deeper into how prequalification works, its benefits, and how you can prequalify for a credit card.
What is credit card prequalification?
Credit card prequalification involves giving a credit card issuer some basic information so that they can provide you with estimated terms you’re likely to get approved for when you apply. Credit card issuers run a soft inquiry to give you your prequalified terms. This is a soft credit check, which doesn’t hurt your score.
As mentioned, formally applying for a credit card harms your score slightly. Too many applications at once can do serious damage and even increase your chances of getting denied. Prequalification helps you avoid that by finding cards you’ll likely get approved for before undergoing the hard inquiry.
How to get prequalified
Here are two ways to get prequalified for credit cards:
Online prequalification
You can get prequalified online by visiting credit card company websites. Many card companies have online prequalification tools where you’ll provide some basic information about yourself. Some of these companies let you enter your information once, then you can see all the credit cards you’re prequalified for in one area. This makes it easy to compare and find the best card for you. 
Direct mail
Unless you opt out, many credit card issuers purchase mailing lists from credit bureaus and run soft credit checks on consumers to see if they meet qualification criteria. They then mail prequalification offers to people that qualify.
If you get a prequalification offer in the mail, you’re already prequalified. All you have to do is follow the instructions on the mailer to apply online. Usually, that involves using a special code provided on the mailer.
Get prequalified to find a great credit card
Prequalification is a simple and helpful process when you’re looking for a new credit card. It helps you shop around for the best card for you while reducing your risk of being denied. Make sure to prequalify for any card you apply to, regardless of where you’re applying. Spending just a few minutes doing this can prevent the disappointment of getting denied and harm to your credit score. Plus, you’ll be able to find a card that matches your spending habits and needs with ease, so you can start earning rewards for your everyday expenses.
Source: iQuanti, Inc.