Imagine Visa Prequalification vs. Approval: What's the Difference?

Receiving a prequalified Imagine Visa mail offer does not mean a credit card account has already been approved. Here's what the prequalified offer means, what happens when you respond, and why the final account terms can be different from the information shown in the mailing.

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What Does Prequalified Mean?

A prequalified credit card offer means that information available to the issuer was used to identify consumers who met certain criteria for the mailing. The recipient is then invited to respond to the offer and apply for the card.

A prequalified offer is different from having an existing credit card account. Receiving the mailer does not mean the Imagine Visa has already been opened in your name.

The distinction is particularly important when a mailer uses terms such as "prequalified" or "preselected." Those terms describe the offer and the screening process that produced the mailing. They do not replace the application process.

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What Is Final Approval?

Final approval occurs after you respond to the offer and complete the application process. The issuer evaluates the information associated with the application and determines whether an account can be opened and under what terms.

The final account decision is therefore a separate step from the prescreening that resulted in the mail offer.

If you receive an approval, the account-opening information will identify the terms that apply to your particular account. Those terms are more important than assuming that every detail shown in a general advertisement or another person's offer will apply to you.

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How Does the Imagine Visa Prequalified Offer Work?

The process can generally be thought of as two separate stages:

Stage	What It Means
Prequalification	Information available to the issuer is used to identify consumers who meet criteria for a particular offer.
Application	The recipient responds to the offer and provides the information required to apply.
Final decision	The issuer determines whether an account can be opened and establishes the terms that apply to the account.

This is why the words "prequalified" and "approved" should not be used interchangeably when describing a mailed credit card offer.

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Does a Prequalified Offer Guarantee Approval?

No. The fact that you received the offer does not by itself guarantee that an Imagine Visa account will be opened.

The recipient still has to respond to the offer and complete the required application process. The issuer then determines whether the applicant qualifies for an account under the applicable requirements.

This also means that you should not treat the acceptance code included with the mailing as an approval code. The acceptance code is used to identify or respond to the offer, while the approval decision is a separate part of the process.

For more information about the code itself, see Imagine Visa Acceptance Code.

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Can the Final Terms Differ From the Mail Offer?

The information presented in a mail offer should be read together with the disclosures and terms provided during the application and account-opening process.

For example, a mailer may advertise a credit limit of up to $2,000. "Up to" does not mean that every recipient will receive a $2,000 credit limit.

The same principle applies to fees, APR, and other account terms. The terms that apply to an individual account are the ones provided for that account, rather than assumptions based on another recipient's offer.

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What Does "Up to $2,000" Mean?

The Imagine Visa mail offer covered by this guide advertises a credit limit of up to $2,000. That wording establishes a maximum advertised amount, not a promise that every recipient will receive that amount.

Your actual starting credit limit, if an account is opened, is determined as part of the account-opening process.

This is also why the advertised credit limit should not be confused with a guaranteed credit limit. For more information, see our Imagine Visa Credit Limit guide.

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Does Prequalification Mean You Are Already a Customer?

No. Receiving a mailed prequalified offer does not mean you already have an Imagine Visa account.

The offer is directed to the recipient and provides an opportunity to respond. An account is a separate relationship established through the application and account-opening process.

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What Should You Check Before Accepting?

Before responding to a prequalified offer, look beyond the headline credit limit. The most useful information to review includes:

• The offer expiration date.
• The acceptance instructions and acceptance code.
• The advertised credit limit and whether it is described as a maximum.
• The annual fee, if applicable.
• Any account maintenance fee or other recurring charge.
• The applicable APR and interest charges.
• Any transaction or service fees that could apply.
• The disclosures and terms presented during the application process.

Our Imagine Visa Fees and Costs guide provides more information about the types of costs associated with the card.

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Prequalified Does Not Mean Preapproved

Credit card marketing can use several terms to describe targeted offers, so it is important to read the language on the actual mailing. "Prequalified," "preselected," and similar terms describe the offer process and should not automatically be interpreted as a completed approval.

The safest way to interpret the Imagine Visa mailing is to treat it as an offer to apply and then review the terms and application disclosures before deciding whether to proceed.

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Key Takeaways

• A prequalified Imagine Visa mail offer is not the same as having an approved credit card account.
• Prequalification means the recipient was identified for a particular offer based on information available during the prescreening process.
• The recipient still needs to respond and complete the application process.
• An acceptance code identifies the offer response process and does not guarantee approval.
• An advertised credit limit such as "up to $2,000" is not a promise that every recipient will receive that amount.
• The terms that apply to an opened account should be reviewed before accepting the card.
• Fees, APR, credit limit, and other account terms should be evaluated using the disclosures provided for the specific offer and account.

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