Exploring the Difference between Prequalifying and Prescreening for Credit
Getting loans off banks or certified lenders has, over the recent period, become more popular. This can be for a variety of reasons, including getting credit cards to work as a safety net in times of emergency, or even getting loans to buy expensive goods that you cannot afford otherwise. There are, however, a number of terms that people may come across during the process of obtaining such loans or credit that can be incomprehensible to them.
Among the most popular terms that one might hear when applying for credit, are pre-qualifying and pre-screening for credit. The two terms can often be confused or misunderstood. However, they are two totally different things and it is essential to understand the difference between each of them when applying for credit.
What is Prescreening f...