The decision to accept or reject a pre approved line of credit is entirely up to you. Do not accept the line of credit simply because you can. Instead, use the line of credit if you can truly use it to make some improvements on your home, consolidate some debts, or finance emergency expenses. If you have taken the time to apply for a line of credit and allowed a lender to do a hard credit pull, your intentions should be serious. However, if terms or conditions change between the prequalification and the preapproval, do not be afraid to reject the offer. Remember, with a line of credit, you should only pay interest on the amount you draw. If you accept the line of credit and don't use it, you may still have to pay other fees, but you should not incur interest fees on funds you did not draw on.