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That's just a term that marketers use. They buy your name and personal information from a credit bureau or from another business, and mail you a notice saying that you can apply for their credit card. You still have to be approved once you apply. There are normally a lot of asterisks, footnotes or "terms and conditions" clauses in small print that you should read. Applying for credit, whether or not you ever use it, can affect your credit rating.

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โˆ™ 2006-04-12 12:53:11
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Q: What does it mean when you are preselected for a credit card?
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Related questions

How can you get a Capital One credit card?

You can get a capital one credit card by going to their website and applying. Also, sometimes you will be preselected and receive a notice in the mail with pre approval.

What does KI mean when running a credit card on a machine?

KI on a credit card machine mean?

What is the difference between a preselected and a preapproved credit card?

Preselected pretty much means nothing. It's a marketing phrase to make you feel special and means that your name appeared on the mailing list they bought. Preapproved can mean that your intitial criteria matches the lender's requirements for issuing credit. However, you'll see at the bottom of any mailer you receive that the company reserves the right to reject you if fail to meet all their criteria.

What does it mean you are qualified for a credit card?

It means a credit card company wants to put you into debt by giving you a credit card you can use.

Can you use a credit card if its frozen?

If you mean a credit freeze, then no, you will not be able to use the card.

What does cvc mean on a credit card?

In terms of a credit card it means Card Verification code hence CVC.

What does credit card negotiation mean?

Credit card negotiation is when you contact the bank and negotiate your credit card debt. This can mean negotiating a payment plan or just trying to get the overall debt reduced.

What does name on credit card mean?

Name on Credit Card mean the name that appears at the front of the card, below the long card number. This will be the name of the person to whom the card was issued by the bank.

What do secured credit cards mean?

A secured credit card is a credit card for people with poor credit ratings that must deposit the desired amount on money before using the card. The card is similar to a pre-paid credit card that allows credit ratings to get better.

What does credit card CVC mean?

Card Verification Code

What does cvn mean on a credit card?

Card Verification Number

What does it mean to transfer credit card balance?

To transfer a credit card balance means to use the available credit on one credit card to pay off the balance of another credit card. This is often done by credit card holders to pay back a balance at a lower rate.

What does it mean if a credit card is valid until a date like for example your credit card is valid until 05 10 what does that mean?

you will die :)

What does 0 intro credit card mean?

The 'O introductory credit card' part of the card means that one does not have to pay any introductory fees on the credit card before using it. This is usually the best card to get.

What does credit card mean?

A small plastic card issued by the bank

If you apply for a credit card do you then have an option to accept or decline if you get approved or do you have to cancel the card if you decide not to take it?

Applying for a credit card does not mean that a person has to us it. It is advisable that the person does not cancel the card, as this actually is harmful to credit scores, while having an unused credit card can be beneficial for credit scores.

What does credit card factoring mean?

Credit card factoring is a way to help businesses get cash advances. Business are able to do this through the utilization of future receivables or credit card invoices.

What does a credit card tart mean?

don't take my word for this, but I think it means someone who steals credit card #'s

What is the primary difference between a credit card and a debit card?

credit mean were you take money debit is what you give money

What does the acronym cid mean on a credit card?

Credit card ID <><><><> Asking the merchant to ask for your ID. "See I D"

What does CW2 stand for in a credit card?

It's misintepreted means there is no CW2 on a credit card, i think you mean the other one.

What does it mean when a credit card is encrypted?

an encrypted credit card is like a super secure credit card. encryption controls where the credit card number can be released, and so on. it just hides the number from the main database until the public key is found.

What do the numbers in an American Express card mean?

Here's a great article that explains what all the numbers on a credit card mean

What does credit card receipts mean?

When you make a purchase using your credit card, the cashier will let you sign a piece of paper reflecting the transaction. A copy will be given to you, which is called the credit card receipt.