Can you be pre-approved for a credit card if you have poor credit?

Quick insights

• It’s possible to get pre-approved for a credit card while having poor credit.
• If you have a poor credit score, you may still be considering applying for a credit card.
• If you have the time, you may want to improve your credit score prior to seeking pre-approval and applying.

Pre-approvals for credit cards can be a helpful way to gain insight into which cards you may be eligible for. You may be wondering, then, “Can I still get pre-approved for a credit card if I have a low credit score?” Let’s review in more detail below.

Understanding pre-approval for credit cards

Pre-approval for a credit card is a process that helps lenders get an indication of your creditworthiness. They are typically based on a soft credit inquiry, which gathers enough data to make an initial credit determination without a full credit report review.

It may be beneficial to go through the pre-approval process to determine your creditworthiness and potential chances for approval, and also gain insight into the kinds of credit cards for which you may be eligible.

Can I get pre-approved for a credit card if I have poor credit?

Yes, you may still be able to get pre-approved for a credit card even if you have a low credit score. In fact, there may be some products available to you that are specifically designed to help individuals build credit and potentially improve their scores. Note that these cards may come with higher annual percentage rates (APRs) and lower credit limits.

Please note that pre-approvals do not guarantee approval, but are a helpful indication into whether or not you may be approved. Remember to review all the terms and conditions of the card before finally applying for it.

Credit checks during the pre-approval process

Lenders typically run a soft credit check during the pre-approval stage to assess basic creditworthiness without accessing a full credit report. Depending on the lender, pre-approval assessment usually looks at factors such as your payment history or debt-to-income ratio. A soft credit check does not impact your credit score.

Hard credit checks are done during the official application process. For example, if you’ve been pre-approved for a credit card and wish to apply for it, your lender will run a hard credit check as part of the formal application process. This hard credit check may temporarily decrease your credit score.

Types of credit cards you may be pre-approved for

You may be offered a pre-approval process on many credit cards. These may include:

• Rewards cards (offering cash back or points)
• Starter credit cards (cards that help individuals with building their credit)
• Secured credit cards, which require a deposit (note: Chase does not offer these)

Make sure to evaluate which type of card best suits your financial situation. Consider factors such as fees and interest rates as you think about how you plan to use your credit card. You may want to compare your pre-approval offers to find the card that fits your specific spending needs before applying for one.

If you have time and you want to improve your chances not only for approval, but for more favorable terms, you might want to consider improving your credit score prior to applying for a pre-approval offer.

The bottom line

Having a poor credit score does not necessarily mean you cannot receive pre-approval offers. A pre-approval may help you gain insight into what you may be eligible for with your current score. However, it can be important to continue building up consistent, regular habits that can help improve your credit score over time.

Research the cards you are interested in so you can remain proactive and prepared on your financial journey. Regardless of which card you choose, continue to make your payments on time so that you can build up your credit score and help improve your chances for approvals in the future.