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Does it indicate in the offer that it is being made based on their having received your name from a listing they obtaned from a CRA?
i don't see difference, after all they still need your credit report.
Neither is a guarantee.
If an offer for credit is made as a result of a listing obtained from a CRA of consumers who meet specified criteria, that offer for credit is reqired, under FCRA 604(c), to be a "firm offer for credit."
FCRA 603(l) specifies that:
"The term "firm offer of credit or insurance" means any offer of credit or insurance to a consumer that will be honored if the consumer is determined, based on information in a consumer report on the consumer, to meet the specific criteria used to select the consumer for the offer.."
Preapproved: You're already approved. Just submit the formal application and you'll get the card or loan or whatever.
Prequalified: You seem to meet our qualifications for approval. If you apply, you'll most likely be approved for the card or loan or whatever.