How to assess whether that  pre-approved credit card offer is for you?

The most important thing to do is to compare that offer for the pre-approved credit card to the others on offer in the market place. This includes looking at the APR of your pre-approved credit card. Are you getting a good ofer or not? Then you must consider your own finanacial situation – can you afford to have another pre-approved credit card  or not? If you can, then is the credit company offering the pre-approved credit card a well respected, established and strong copmany? Or is it known for offering a  pre-approved credit card to people with a low credit rating simply to make a quick buck and running an unsafe ship?

Once you’ve considered all these aspects of your pre-approved credit card then you are in a strong position to decide whether you are want to accept the pre-approved credit card  or not.
Why was I offered a  pre-approved credit card?

Well, there a few reason you might be offered a pre-approved credit card. The first is that you are on a generic mailing list or in a databse somewhere. Second, the bank or credit company may have chosen you from a pool of their current customers as somebody they want to target for a  pre-approved credit card. Third, you may already have responded positively to a previous offer of a pre-approved credit card  and it is felt you would respond positively again. It is unlikely that you will  be offered a  pre-approved credit card if you have a low credit rating, especially if the company is reputable as they simply do not want such customers.

A pre-approved credit card means a better rate right?

This is absolutely false. No matter how good the pre-approved credit card offer is, you may well be able to find a better deal elsewhere. As always the key is to shop around. But that isn’t to say your  pre-approved credit card will necessarily be a bad deal, just that there might be other credit cards out there which will offer you a better rate.

I received a pre-approved credit card - should I be excited?

In short - no you shouldn’t. Credit companies use this trick all the time to simply boost their customer numbers and simply receiving unsolicited mail saying you are about to receive a pre-approved credit card doesn’t mean that you will relieve that pre-approved credit card.
Does being offered a pre-approved credit card  mean I have a better chance of being offered a card?

Again - no it doesn’t. Being pre-approved simply means that checks have not yet been completed on you yet. This is just the same as somebody who hasn’t yet applied for a card and so being offered pre-approved credit card does not put you at an advantage. Moreover, the people often targeted for the offer of a pre-approved credit card are those who are likely to fail a credit check.
Is there any way to stop receiving mail about a pre-approved credit card?

If you wish so, yes you can do something. To stop receiving email about getting a pre-approved credit card try turning up your spam filter and not posting your email address so publicly. To stop receiving postal mail about a  pre-approved credit card you can try to go to OPT OUT SCREEN and have yourself removed from lists offering a pre-approved credit card .

What is a pre-approved credit card?

A pre-approved credit card is a a route to rapid credit. By applying for a pre-approved credit card you can skip the normal rigmarole of the extensive vetting process as you will be put on a special list by the credit card companies which is reserved for those who are to receive a pre-approved credit card which means you will not be checked in the same way. Specifically such checks for a pre-approved credit card will not negatively influence your FICO score and will be marked as “promotional” on your credit report.

So there is no risk to me?

Nope - none. Applying for a pre-approved credit card will not damage your credit rating at all. This means you don’t need to get that check that was done for your pre-approved credit card removed from your credit rating even if you fail. There is no risk at all in applying for a pre-approved credit card.
But why do credit companies offer a pre-approved credit card?

A pre-approved credit card is offered by credit companies as a way to continually improve their customer base and grow in a weakening market. Particularly popular amongst sub-prime lenders, a pre-approved credit card is an excellent method to do this and is a recognised method.

Will they always approve me?

No, credit companies will not always approve you for that pre-approved credit card that was promised. This is because the recipient for the offer of the pre-approved credit card will be offered the pre-approved credit card on the basis of a basic check not the full checked which is completed before you are issued your “pre-approved credit card”.