Preapprovals can give you a good idea whether you’ll be approved for a credit card. Armed with this knowledge, you’ll know better whether to formally apply for the card, which likely comes with a hard credit pull.
Capital One offers all kinds of credit cards for every type of user, from secured cards to help build credit to premium travel rewards cards. But for many applicants, it can be nerve-wracking to fill out an application, not knowing if you’ll be approved. Maybe you’re hovering on the edge of the card’s recommended credit range, or you’re worried about your credit history. No matter the reason, it’s always wise to have a practical idea of your approval odds.
Preapproved offers can be a helpful way to find out your chances of getting approved for a credit card. According to Capital One, when you receive a credit card offer that mentions being preapproved or prequalified, “it typically means your credit score and other financial information matched at least some of the initial eligibility criteria needed to become a cardholder.”
When you are preapproved for a credit card, the issuer usually gleans some basic information about your creditworthiness based on a soft credit inquiry of your credit report, which does not impact your credit. While preapproval isn’t a guarantee of approval, you may feel more confident in formally applying for the credit card, knowing your odds of approval are stronger.
And, if you are not approved for a credit card, you can forego the formal application, and the hard credit pull that comes with it.
Read on to learn more about how to get a prequalified offer from Capital One.
How to get preapproved for a Capital One credit card
Currently, Capital One doesn’t offer preapproved offers through CardMatch™, our valuable tool to discover which credit cards you prequalify for with most major credit card issuers. Still, if you’re looking to get preapproved for a Capital One credit card, you have options:
Prequalify on the Capital One website
The first place to search for prequalified Capital One offers is directly on the issuer’s website. Simply answer some questions about your contact information, employment, income and Social Security number and the bank will generate your offers.
If you qualify for a Capital One credit card and wish to continue, you can answer a few more questions to formally apply for the card. Checking for prequalified offers on the Capital One website does not trigger a hard pull to your credit (although proceeding through the full application will).
Other ways to prequalify for Capital One cards
In some cases, Capital One might target you with a prequalified credit card offer. Though less common than they used to be, credit card offers by mail still exist. If you are in the market for a Capital One card, make sure to scan the mailers you might typically throw away for any prequalified offers.
Additionally, you can ask about preapproved Capital One card offers in person at a Capital One branch. Just be sure to confirm that the request will require only a soft pull to your credit.
Top Capital One cards for prequalified offers
Capital One Venture Rewards Credit Card
Capital One Quicksilver Cash Rewards Credit Card
Capital One® Savor® Cash Rewards Credit Card*
|2 miles per dollar on every purchase|
75,000 miles if you spend $4,000 in first 3 months
|1.5% cash back on every purchase|
$200 cash back if you spend $500 in first 3 months
|4% cash back on dining and entertainment purchases|
3% cash back at grocery stores
Why you should prequalify with Capital One before you apply
Prequalifying is all about protecting your credit score from unnecessary hard inquiries, which can cause a minor hit to your credit score. Remember, if you’re preapproved for a Capital One credit card – or any card for that matter – it doesn’t mean you’re guaranteed to be approved for the card. But by prequalifying, you can feel a little better about incurring a hard inquiry since your odds of approval are greater.
By contrast, if a card issuer doesn’t prequalify you for a credit card, it could mean they discovered an issue in your credit report. Resist any temptation to immediately apply for another credit card, and consider taking some time to improve your credit score. Downloading copies of your credit reports at AnnualCreditReport.com is an excellent place to start. Carefully go through each line of your credit reports looking for errors or fraudulent information, and dispute any mistakes you find with the major credit bureaus.
Whether you are shopping for a credit building or cash back card, Capital One offers users plenty of great products across its credit portfolio. Some Capital One cards are hard to get if your credit is less-than-ideal. Before you risk a hard inquiry and a potential rejection of your application, consider checking for Capital One preapproval offers.
*All information about the Capital One Savor Cash Rewards Credit Card has been collected independently by CreditCards.com. The issuer did not provide the content, nor is it responsible for its accuracy.