What if you could know whether or not you'd be approved before applying for a credit card?
While there's no way to guarantee approval, Discover Pre-approval helps you gauge your chances at getting approved for the best Discover credit cards all through a quick and easy online tool. Getting a pre-approved offer before applying for a credit card can help you target the right cards for your credit score and avoid unnecessary inquiries on your credit report. Here's how to get pre-approved for a Discover credit card.
Getting pre-approved for a credit card offer simply means that the credit card issuer has determined that you fit certain criteria for that credit card. The card issuer does this by running a soft credit check, which doesn't show up on your credit report or affect your credit score.
Pre-approval checks aren't as extensive as a hard credit check, so receiving Discover Pre-approval doesn't necessarily mean you will be approved for the card. On the flip side, not having pre-approval for a Discover card doesn't mean you'll be denied.
Some people may automatically receive Discover Pre-approval offers in the mail. However, the best way to check for Discover Pre-approval is online. The online Discover Pre-approval tool will show you exactly what personalized credit card offers you qualify for based on the information you provide.
Go to the Discover Pre-approval tool and fill out the form. You'll need to include the following information:
You can then select whether you prefer cash back credit cards, travel credit cards, or balance transfer offers. The form takes about five minutes to fill out, and you'll receive a list of cards for which you're pre-approved instantly.
If you aren't pre-approved for any offers, you should receive a reason. After that, Discover recommends waiting eight days before submitting another request through the Discover Pre-approval tool to see if you have any new offers.
You want to minimize your rejections for credit cards. Every time you submit a credit card application, the issuers will run a hard credit check, which does show up on your credit report and can drag your score down temporarily. If you're denied for the credit card, you've got a hard inquiry on your credit report with nothing to show for it. While the decrease is minimal from one inquiry, racking up six or seven will really take a toll on your credit score, especially if you have a short credit history.
Pre-approval might not be the guarantee you'd like, but it does mean that you have a better chance at getting approved. Knowing this beforehand can help you decide whether or not you actually want to submit an application, or it can help you decide which credit card to apply for.
Checking your pre-approvals may also help you decide between two different Discover credit cards. If you're pre-approved for one credit card but not the other, apply for the one you're more likely to get. You may also be able to get a sense of the APR they'll offer you from your pre-approvals, which can help guide your decision. In the end, there's no risk involved in using Discover Pre-approval, but there is the potential for lots of rewards.
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