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What is the difference between a preselected and a preapproved credit card?
Wiki User
∙ 18y ago
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.
Wiki User
∙ 18y ago
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Answering "http://wiki.answers.com/Q/What_are_the_difference_between_line_of_credit_and_credit_limit"
