A pre-approval offer suggests you've passed the first step in the screening process. But remember — you can't actually be approved for the card unless you apply. You may seem like a promising candidate, but the lender will likely want more information to process your application.

It's important to understand that even if you've been pre-approved, you're not guaranteed to be approved once you complete an official application. For example, depending on whether the information in your credit report changed from the time you were pre-approved, you may be denied for a pre-approved offer.

You get pre-approved (or pre-screened) credit card offers in the mail because the credit card issuer took a look at your credit and thinks you might qualify for the offer. Even if the letter says "You're pre-approved," it isn't a guarantee. You'll still have to apply if you want the card.

The X1 Card stands out among cards in its class as a low-cost option that has no annual fee, no foreign transaction fees and no late fees. Unlike with other cards, you won't get dinged with a penalty annual percentage rate, or APR, when you pay late, either — but it's still important to pay on time.