What Credit Card Pre-Approval Really Means

The “approved” part of a pre-approved credit card can be a bit misleading. If you’ve ever been denied for a credit card that you were pre-approved for, then you know that being pre-approved doesn’t mean what it seems. As with any other credit card, approval isn’t guaranteed.

If you’re considering applying for a card you were pre-approved for, keep your fingers crossed, but don’t get your hopes up too high.…
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How Credit Card Issuers Use Your Income

Your monthly or annual income is one of the pieces of information credit card issuers need to complete your credit card application. Completing the income portion can be confusing for some applications, especially if you have non–traditional income or income from multiple sources.

You can include income you earn from a full-or part-time job, retirement disbursements, and social security benefits.…
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Big Credit Card Balances Can Cause Big Problems

Most credit cards come with a preset credit limit. A card’s credit limit is the max outstanding balance you can have at any given time. You can pay down your balance and keep using your available over and over as long as you abide by the credit card issuer’s rules. That usually means making the minimum credit card payment each month on time and staying below your credit limit.…
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