If you’ve been searching for a loan, you might have come across the term pre approved loan. But what does that actually mean – and how can it help you? At ClearScore, we show you whether you’re likely to be accepted for a loan before you apply. That way, you avoid wasted applications and protect your credit score. Here’s what you need to know.
When you see a pre approved loan offer in your ClearScore account, it means the lender has already run the necessary checks on your credit file and financial situation. As long as you pass standard fraud checks and the details you provide match up, you’re guaranteed to get that loan. No guesswork, no crossed fingers.
Normally, applying for a loan can feel stressful. You fill in the form, wait to hear back, and worry whether you’ll be accepted. Each application also leaves a mark on your credit report, which can make things harder if you’re declined. With a pre approved loan offer, you remove that uncertainty. You can apply with confidence knowing you’ll get the loan if you continue.
When you log in to your ClearScore account, you’ll see your personalised loan offers. If you’re pre approved, it will be clearly marked, along with your rate and how much you could borrow. We work with trusted lenders across the market, so you can compare offers side by side and choose the right option for you.
Not being pre approved doesn’t mean you won’t get a loan – it just means the lender can’t give you a guaranteed “yes” upfront.
Even if you’re pre approved, it’s important to make sure borrowing is right for you. Ask yourself:
Do I really need the loan?
Can I comfortably afford the repayments every month?
Is this the most cost-effective option compared to alternatives (like a 0% credit card)? If you’re looking at managing existing debts, a debt consolidation loan could be another route to simplify payments.
A pre approved loan offer takes the uncertainty out of applying. With ClearScore, you can see your guaranteed options alongside your wider eligibility – giving you more control and confidence when borrowing. Sign in to ClearScore to check if you’ve got any pre approved loan offers waiting for you today.