Pre-Qualification
A lender's estimate of whether you might qualify for a loan or credit card, based on a soft credit pull and self-reported financial information. Pre-qualification does not affect your credit score and does not guarantee approval. Also called pre-approval in some contexts.
Related guides
- Full credit & FICO® glossary
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- Soft Inquiry
A credit check that does not affect your FICO score. Soft inquiries occur when you check your own credit, when lenders send pre-approved offers, or when employers run background checks. Also called a 'soft pull.'
- Hard Inquiry
A credit check that occurs when you apply for new credit — a credit card, loan, mortgage, or auto financing. Hard inquiries may lower your FICO score by a few points (typically fewer than 5) and remain on your credit report for two years. Also called a 'hard pull.'
Frequently Asked Questions About Pre-Qualification
What does Pre-Qualification mean?
A lender's estimate of whether you might qualify for a loan or credit card, based on a soft credit pull and self-reported financial information. Pre-qualification does not affect your credit score and does not guarantee approval. Also called pre-approval in some contexts.
Is Pre-Qualification important for my FICO® score?
Understanding Pre-Qualification helps you manage your credit profile more effectively, which in turn supports a stronger FICO® score.