The phrase denotes the method of figuring out potential eligibility for a credit score providing particularly associated to purchases at a significant house enchancment retailer, using a credit score scoring mannequin from a well known credit score bureau. For instance, a shopper would possibly discover this selection to evaluate their chance of approval for a store-branded bank card earlier than formally making use of.
Understanding one’s potential approval odds might be helpful for a number of causes. It permits customers to gauge their monetary standing in relation to a particular credit score product, doubtlessly avoiding a tough credit score inquiry if the pre-qualification evaluation signifies a low probability of approval. Traditionally, retailers have supplied such choices to encourage shopper spending and loyalty via accessible financing.
