Pre-Approved/Pre-Qualified???

[Anonymous]

Hello All,

I'm a newbie to the forum and have learned so much about credit in the last week!  I get so many pre-approved and pre-qualified letters from credit card companies, but I'm not sure if there is a difference between the two.  A friend told me that a pre-qualified letter means a hard pull, is this true?  Thanks!

[fused]

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daydee wrote:

Hello All,

I'm a newbie to the forum and have learned so much about credit in the last week!  I get so many pre-approved and pre-qualified letters from credit card companies, but I'm not sure if there is a difference between the two.  A friend told me that a pre-qualified letter means a hard pull, is this true?  Thanks!

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Neither of these can cause a hard inquiry, unless you signed and consented to it.

[Tuscani]

Check out the Credit Scoring 101 thread:

http://ficoforums.myfico.com/fico/board/message?board.id=ficoscoring&thread.id=2654