Shetty said, ‘The bank or credit card company takes the final decision to issue the card only after the second round of assessment. It is likely that the person eligible for the pre-approved credit card will be rejected in the second round.
Another expert says that companies and banks choose to offer credit card offers to customers based on the bureau score they hold. However, this is not the only criterion on which these banks or companies issue credit cards to customers.
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Know full information before choosing credit card offer
Credit card companies offer such offers because they hope to benefit from them. In such a situation, it is important to take complete information about them before choosing any such offer. You choose the same credit card that suits your lifestyle and needs.
In other words, a large number of these banks and companies get applications for credit cards. A large proportion of these are not eligible for a credit card at that time. Now these companies and banks run a special program, under which they prepare some offers and present them to potentially good customers.
Keep these things in mind
On the one hand there are advantages of pre-approved offers, but on the other hand, customers should choose the right credit card offer based on their financial condition. Before taking a credit card, it is very important that their terms and conditions be understood and carefully chosen a credit card for themselves. Pre-approved offers are better for those customers who are not satisfied with their existing card and want to apply for a new credit card.
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They should choose these offers based on their needs and expenses. They should see whether this card will do their job or not.