finance

What Does Pre-Approved Mean? Understanding Loan and Credit Card Pre-Approval

Pre-approval is a term that many of us come across when applying for loans or credit cards. It sounds like a great deal, doesn’t it? The possibility of getting your loan or credit card application approved without any hassle can be enticing. But what does ‘pre-approved’ actually mean? How does it work? And more importantly, should you trust it fully?…