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Pre-approval (sometimes referred to as “pre-qualification”) offers many benefits. For example, they allow consumers to browse different issuers without affecting creditworthiness. Denying pre-approval can provide insights into how to improve credit scores before you officially apply. Chase offers some of the most popular cards on the market, making them desirable pre-approval options.
Unfortunately, Chase does not have a pre-approval tool on their website. The only way to know if you prequalify is if you receive an offer in the mail or have an existing Chase account and receive preapprovals online.
Here’s everything you need to know about Chase pre-approvals.
Prequalified vs. Pretested
These two terms often mean the same thing – prospective cardholders can submit a quick application to see which cards they are most likely to qualify for. In most cases, card issuers perform a gentle credit check, verifying basic information like annual income, total monthly payments, and the last four digits of a social security number.
In any case, pre-approvals or pre-qualification for credit card offers are not a guarantee – just because you pre-qualify does not mean you will be approved for a new account.
If you wait too long to officially apply for a card and your financial situation changes, a credit card issuer may still decline your application.
How to get pre-approved for a Chase Card
Chase does not currently offer a pre-approval tool on its website, making it more difficult to know if someone may qualify for a Chase card. The only way to tell if you prequalify is for Chase to target you using information from credit bureaus.
When you receive a pre-approval offer from Chase, it means that the bank has reviewed your income, credit history, and other financial information to determine that you are most likely to be approved for the credit card being offered. Offers like this will be received in the mail addressed to the eligible person or company.
Snail mail offers typically read like an ad (which, to be clear, they are), but they’re also an invitation to apply. Postal pre-approval offers provide helpful information for those who buy cards, including possible interest rates, benefits, and other terms. Note that an email offer as a promotion is unlikely to include full terms and conditions, which every applicant should read before applying.
Existing Chase cardholders may receive pre-approval offers via email or in their Chase accounts. Be on the lookout for offers when you sign up to make payments or use rewards points. You can also go to a Chase location and speak to a representative to see if you have been pre-approved for card offers.
To increase your chances of seeing offers before approval, improve your credit score by making payments on time, paying off other credit card balances, and monitoring your credit report to see what factors are affecting your score the most.
Can I get pre-approval for a Chase Sapphire Card?
The Chase Sapphire Preferred® Card and Chase Sapphire Reserve® are two of Chase’s top credit cards. These cards offer great benefits for travel, dining, and everyday purchases.
Because Chase does not currently offer a pre-approval tool on their website, the best chance of getting pre-approved for a Chase Sapphire card is to work on improving your credit score and hope the bank will mail a pre-approval offer to you as soon as you to qualify .
If you don’t have time to wait for an offer, all you have to do is apply for a Sapphire card on Chase’s website. Try not to apply for too many cards in a short amount of time as this can hurt credit scores on top of the harsh scrutiny hits your credit score will suffer with each application.
Can I get pre-approval for a Chase Freedom Card?
Chase Freedom Unlimited® and Chase Freedom Flex℠ offer excellent cashback potential. No wonder they are two of Chase’s most popular cards.
However, Chase doesn’t make it easy to pre-qualify for a Freedom card. Without a pre-approval tool on their website, there is no way to get an idea of what you qualify for before formally applying. Again, your best chance is to improve your credit score over time and hope you get an offer in the mail.
If you don’t have time to wait, fill out an application for a Freedom Card on Chase’s website.
Remember that getting rejected isn’t the end of the world. You can always call Chase once you know why you were denied and ask them to reconsider your application. Sometimes it’s so simple that you need to move funds from an existing account to your potential new credit card.
Should I get a pre-approved card from Chase?
There’s no harm in getting pre-approval as it won’t hurt your credit (even if you don’t qualify for Chase cards). Credit bureaus and card issuers perform soft credit checks for pre-approval, which do not affect credit scores.
If you’re looking for credit cards and you get an offer or an existing Chase account in the mail, use it to your advantage. Check the terms and interest rates offered and compare them to other cards on the market.
If you get pre-approval, there’s a good chance you’ll be approved after you apply, but remember that’s not a guarantee. There is always a chance that Chase may deny a formal application if the bank is unable to verify the applicant’s income or detects a change in credit profile in the time between the issuance of a preapproval offer and your formal application. In some cases, pre-approval offers may expire, so take advantage of an offer if you’ve evaluated it and it still seems like a good deal compared to your other offers.
Pre-approval for a Chase card can be a lucrative opportunity for card buyers. Chase does not currently offer a pre-qualification tool on its website, but eligible cardholders may receive these offers in the mail. Getting pre-approved means you have a pretty good chance of getting approved, but remember this isn’t guaranteed. Keep paying other credit card balances and make payments on time to improve your credit score and increase your chances of getting pre-approved on a Chase card.