 TITLE: What Are the Benefits of a Preapproved Credit Card? CONTENT: There are a number of upsides to preapproved credit card offers, including:\n*   **Less work for you**: Rather than you searching out potential cards, lenders are coming to you. If you have a good credit score and history, you may attract offers for great cards with rewards, bonuses and other benefits.\n*   **No hit to your credit score**: If a company screens you for a preapproval offer, the soft credit check won't bring down your score, so you get to see card options at no risk.\n*   **Opportunity to rebuild credit**: Sometimes card companies will reach out even if your credit is fair or poor, offering a limited credit line that will help you rebuild your credit profile. It's important to check the interest rate, however, to make sure you won't be paying high fees on your purchases (though you can avoid paying interest by paying off your balance each month, which will also help you build credit).\n*   **Potential for competitive terms**: Because lenders are advertising the card to you, it's possible that you might qualify for better interest rates than you'd find without an invitation or preapproval code.\n*   **Opportunities to consolidate debt**: Some credit card preapprovals may include promotions such as a 0% introductory APR for a certain period of time. You may be able to pay off high-interest accounts you already have open with the new card, allowing you to save on interest while paying off the balance.\n*   **Potential intro bonus, rewards and other perks**: If you've been looking into travel rewards cards or cards that offer intro bonuses and other perks, a preapproval is a good way to find out you may qualify for one of these cards.\nIt's important to read any offer thoroughly, however. A card may offer enticing cash back bonuses or travel rewards, but if there is a steep annual fee, it could offset any benefits. END