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Are most CCC's requiring a hard pull for a CLI now?

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Itsmeagain
Established Contributor

Re: Are most CCC's requiring a hard pull for a CLI now?

 


@Anonymous wrote:

1.  Can we say that even opening a new account shouldn't result in an INQ because one's other creditors can see the new account when it reports and that is when they should get notification?

Now THERE is an idea that has merit . . . . . . . Smiley Very Happy

 

 


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Message 21 of 32
score_building
Senior Contributor

Re: Are most CCC's requiring a hard pull for a CLI now?

we already know with increasing inq default rates go up markedly, so it is unlikely that lenders will cease to rely on them as an indication of risk, unless statistically they fail to show it.

DCU EQ 5.0, Citi EQ 08 Bankcard, PenFed EX NG2
EX 08: AFCU, Amex, Chase, PSECU EX 98(?)
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Message 22 of 32
Anonymous
Not applicable

Re: Are most CCC's requiring a hard pull for a CLI now?


@Itsmeagain wrote:

 

...

 

And where in the new credit card law does it state that a CLI request requires a hard pull?  Several posters have mentioned that the CSR is referring to the new credit card law as their reason for requiring a hard pull?

 


Anybody able to answer that question?  I sure the heck would be interested in seeing where it is mandated by law that a CLI requires a hard pull.

Message 23 of 32
score_building
Senior Contributor

Re: Are most CCC's requiring a hard pull for a CLI now?

even though by most accounts it doesn't specifically state this, lenders may be using creative interpretation of the law to suit their interests for the foreseeable future.

DCU EQ 5.0, Citi EQ 08 Bankcard, PenFed EX NG2
EX 08: AFCU, Amex, Chase, PSECU EX 98(?)
TU 08: Barclays, Discover
Message 24 of 32
Uborrow-Upay
Valued Contributor

Re: Are most CCC's requiring a hard pull for a CLI now?


@score_building wrote:

even though by most accounts it doesn't specifically state this, lenders may be using creative interpretation of the law to suit their interests for the foreseeable future.


OMG! 
**(horrified look on face...clutching chest...staggering in shock...)** 
They wouldn't do THAT, would they?

Smiley Very Happy
Message 25 of 32
score_building
Senior Contributor

Re: Are most CCC's requiring a hard pull for a CLI now?

Smiley Very Happy

DCU EQ 5.0, Citi EQ 08 Bankcard, PenFed EX NG2
EX 08: AFCU, Amex, Chase, PSECU EX 98(?)
TU 08: Barclays, Discover
Message 26 of 32
Anonymous
Not applicable

Re: Are most CCC's requiring a hard pull for a CLI now?

Just got a BoA CLI this week ($8K!  woohoo!), and it was a soft pull.

Message 27 of 32
Itsmeagain
Established Contributor

Re: Are most CCC's requiring a hard pull for a CLI now?

Yep; BoA and possibly Amex are the only two (banks), I have heard of recently that are not using the "creative interpretation" method of the new credit law . . . Smiley Mad


Starting Score: TU 737 EQ 721
Current Score: TU 741 EQ 741
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Message 28 of 32
score_building
Senior Contributor

Re: Are most CCC's requiring a hard pull for a CLI now?

 


@Anonymous wrote:

Just got a BoA CLI this week ($8K!  woohoo!), and it was a soft pull.


 

Nice one!!

 

DCU EQ 5.0, Citi EQ 08 Bankcard, PenFed EX NG2
EX 08: AFCU, Amex, Chase, PSECU EX 98(?)
TU 08: Barclays, Discover
Message 29 of 32
felixfly2000
Contributor

Re: Are most CCC's requiring a hard pull for a CLI now?

Well, today I called 5th/3rd bank to ask for a CLI, I had not ask for one in a years time. Anyways, the CSR informed me of the process, what limit was I asking for. Then they would look at my credit and I would have an answer in 24 hours. I asked if this would be a hard and was told yes. I passed on it, because if I am going to take a hard, it should be for new credit.

Message 30 of 32
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