Pre-approved credit cards

What are pre-approved credit cards? What does pre-approved mean when searching for a credit card? The thimbl guide to pre-approved credit cards shares some key information and explains why checking your eligibility for a credit card before you apply could protect your credit score.

What is a pre-approved credit card?

If you’re pre-approved for a credit card after an initial eligibility check, it means that there’s strong indication that the card could be a suitable match for your financial circumstances.

Does pre-approval mean that I’ll definitely be accepted for a credit card?

Unfortunately not. It’s really important to be aware that pre-approval does not guarantee acceptance.

Once you’ve been pre-approved, you can decide whether you’d like to make a full application for the credit card. If you do choose to go ahead, the credit card provider will complete some additional checks. The results of these further checks will be the decider as to whether you’re fully approved for the credit card.

How does pre-approval work for a credit card?

To explain how pre-approval works, we’ll use the thimbl Credit Builder Credit Card as an example.

1. You check your eligibility for a thimbl Credit Card.
2. A soft search is completed with no impact to your credit score, to determine how likely you are to be approved.
3. If the soft search reveals a good chance of approval, you’ll be notified that you’ve been pre-approved.
4. If you’d like to go ahead and make a full application, you will be redirected to our provider Zable’s website for a creditworthiness assessment.*
5. If Zable is happy with the outcome of their checks, you will be offered the thimbl Credit Builder Credit Card.

*Zable is a trading style of Lendable Ltd. If you choose to make a full application, a creditworthiness assessment will be carried out by Zable. This will consist of a hard search and a further check powered by Open Banking. A hard search will remain on your credit file for up to 12 months and multiple hard searches within a short period of time could have a negative impact on your credit score. Any credit obtained upon successful application will be provided by Lendable Ltd.

Could I get a pre-approved credit card with bad credit?

You could still be pre-approved for a credit card, even if you have bad credit. Some credit cards, such as the thimbl Credit Builder Credit Card, are tailored towards people with bad credit history.

Remember though, pre-approval doesn’t guarantee acceptance, and the lender’s final decision will be based on a number of factors, including your financial circumstances, income, and credit score.

Before you apply for a credit card for bad credit, please be aware that this type of credit card could come with a higher rate of interest.

What’s the easiest credit card to get pre-approved for?

No credit card can be considered easy to be pre-approved for.

You’ll need to fulfil the lenders eligibility criteria before you can check your eligibility, and as discussed, if you are pre-approved for a credit card, it doesn’t necessarily mean that you’ll be accepted by the provider.

Is there such a thing as a guaranteed credit card?

No, there is no such thing as a guaranteed credit card, even if you have excellent credit history.

Every credit card provider will have their own requirements, and anyone who applies for a credit card, regardless of their credit score, will be required to undergo a full creditworthiness assessment.

The lender will want to make sure that you can afford to repay any money that you borrow, so they’ll take an in-depth look into your credit score and your affordability, including your financial habits.

How to get a pre-approved credit card

To find out whether you could be pre-approved for a thimbl Credit Builder Credit Card, you can use our free eligibility checker.

Your time is important to you, and the service we provide is important to us, which is why our eligibility check has been designed to be as straightforward and efficient as possible.

The time between you completing the form and us giving you a decision? Just 90 seconds.

You can check your eligibility for a thimbl Credit Builder Credit Card if you:

• Are between the ages of 18 and 70;
• Are a UK resident with at least 1 year's UK address history;
• Are employed, with a monthly net income of at least £800;
• Have an active credit account that has been open for a minimum of 12 months; and
• Do not already hold a Zable credit card.

Lendable Ltd is unable to consider applications from anyone who has declared bankruptcy or is in an Individual Voluntary Arrangement (IVA).

How can I increase my chances of being pre-approved for a credit card?

• Do your research before you apply. Look into different types of credit card to find one that best suits your financial situation.
• Make sure you meet the lender’s eligibility criteria.
• Generally, the better your credit score, the more chance you have of being considered for credit products. If you do have bad credit, focus on credit building techniques, such as registering to vote, ensuring the details are correct on your credit report, keeping your credit applications to a minimum, and paying your bills and any existing credit commitments on time.
• When you make an application for a credit card, be sure to full out the form as carefully and accurately as possible. Mistakes or incorrect information could slow down the process or even affect the outcome.

Why is an eligibility check for a pre-approved credit card a good idea?

Checking your chances of approval before you make a full application for a credit card could prevent you from having to make multiple applications with different providers, which in turn help to protect your credit score from multiple hard searches.

An eligibility check, carried out to determine whether you could be pre-approved for a credit card requires a soft search only, will not impact your credit score in any way.

When you apply for a credit card directly with a lender, they will complete a creditworthiness assessment, which could include a hard search. A hard search will remain on your credit file for up to 12 months. If you were to be turned down by the provider, you might make another application for credit elsewhere, which could result in a further hard search being carried out. Multiple hard searches in a short period of time will negatively affect your credit score.

Money worries? Help is available

If you’re concerned about money or debt, free, confidential advice and support is available through StepChange, MoneyHelper, Citizens Advice, and National Debtline.