The phrase concerns a preliminary evaluation process utilized by financial institutions, particularly when issuing credit cards associated with General Motors (GM). This process assesses an applicant’s creditworthiness before a formal application is submitted, providing an indication of the likelihood of approval. For example, an individual might check for an offer suggesting they are likely to be granted a GM-branded business credit card based on a limited credit profile review.
This procedure offers several advantages. It allows potential cardholders to gauge their chances of acceptance without impacting their credit score through a hard inquiry. Further, it enables businesses to efficiently manage their finances by accessing credit lines tailored to GM-related expenses and potential rewards programs. Historically, such pre-approval mechanisms have become standard practice in the credit card industry, optimizing the application process for both issuers and prospective clients by reducing wasted effort on applications with low approval probabilities.
