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Established Contributor
Itsmeagain
Posts: 832
Registered: ‎01-16-2008
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Are most CCC's requiring a hard pull for a CLI now?

I have recently (since Feb. 22),  requested CLI's from the following:

Discover

Chase

Kroger 1-2-3

BoA

Best Buy (both store and RZMC)

Alliant

 

The only one who said it would not be a hard pull was BoA (2,500 CLI).  I declined the others to avoid the hard pull.

 

It appears that the rules have changed boyz and girlz.  Get ready for some amazing NEW tricks to be introduced that will further limit the attraction to credit cards, such as lower (or NO), rewards, higher interest rates, fewer CLI's.

 

Any others with similar experiences?  What are your feelings about these new, tightened rules?  Are the "Good Times" over . . . . When one could MAKE money using credit?

 

 


Starting Score: TU 737 EQ 721
Current Score: TU 741 EQ 741
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Regular Contributor
konabill
Posts: 118
Registered: ‎12-09-2009
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Re: Are most CCC's requiring a hard pull for a CLI now?

  I called to get CLI from HSBC on Thursday and was told no CLI at this time.  But no mention of requiring hard inquiry.




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*USAA*PENFED*NFCU*AMEX*DISCOVER*CiTi*WALMART*BESTBUY*
Established Contributor
beenthere
Posts: 971
Registered: ‎01-13-2008
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Re: Are most CCC's requiring a hard pull for a CLI now?

[ Edited ]

All 5 of my cards rate jacked me late last year but Juniper only up to 12.9. Juniper just auto CLI me from $2500 to $3500 which suites my needs so thus far they are the only card I still have that isn't actually awfully sub-prime but......

In two weeks I will aply and get my first truly prime card, a VISA with a credit union at %8.25 and a 5-7,000 limit. IF Juniper sees that they will freak and probably CLD me....which is the purpose of getting the credit union card in the first place. The credit union don't do freaky un-expected CLD. The point is, all banks have lost their cotton-picking minds and credit unions are the new "small town friendly banks."

1-14-08....... TU=683, EQ=667, EX=666
7-04-08....... TU=688, EQ=678, EX=682.......
.......4 of my 5 cards and a new car later.
2/13/09 and forever EX 693
Regular Contributor
pumbaablah
Posts: 190
Registered: ‎08-14-2008
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Re: Are most CCC's requiring a hard pull for a CLI now?

I have been sockdrawering my Alliant CC and will probably close it soon. They will not budge on a cli without a hard pull. CL is only 500 and it sucks!

Regular Contributor
armymom
Posts: 204
Registered: ‎01-18-2009
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Re: Are most CCC's requiring a hard pull for a CLI now?


pumbaablah wrote:

I have been sockdrawering my Alliant CC and will probably close it soon. They will not budge on a cli without a hard pull. CL is only 500 and it sucks!


 

If you do any online shopping, you might consider keeping it for that alone.  Someone get the account number, they can't charge much.:smileywink: 

EQ Fico 01/10 743
TU Fico 01/10 716
Mega Contributor
RobertEG
Posts: 18,505
Registered: ‎03-19-2007
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Re: Are most CCC's requiring a hard pull for a CLI now?

[ Edited ]

In reality, there is no benefit for a creditor to code a credit pull for a CLI as a "hard pull."

It is clearly a permissable pull under FCRA 604(a)(3)(A), entitlling them to your full credit report.

How a credit inquiry is coded with the CRA is not regulated by the FCRA, and why some do hard vs. soft pulls is a mystery to me.  As an existing customer who is most probably doing it to increase business with the creditor, I dont see a hard pull as servicing the needs of either party.

 

On the subject of CCC policy changes, I have an AT&T/CITI Universal Platimun Master Card that I have held for 15 years.  No lates, ever.  $14K CL.  Current % util, as it has been for a long time, is well below 10%.  They recently notified me that they were instituting an annual fee on the card of $35.  They say that this fee will  be refunded to me after one year if I charge an average of at least $1,000 a month on the card over the next year.  That to me is just plain extortion.

 

Regular Contributor
pumbaablah
Posts: 190
Registered: ‎08-14-2008
0

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

doesnt that just suck. Thats reality now though.

Established Contributor
Itsmeagain
Posts: 832
Registered: ‎01-16-2008
0

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

 


RobertEG wrote:

In reality, there is no benefit for a creditor to code a credit pull for a CLI as a "hard pull."

It is clearly a permissable pull under FCRA 604(a)(3)(A), entitlling them to your full credit report.

How a credit inquiry is coded with the CRA is not regulated by the FCRA, and why some do hard vs. soft pulls is a mystery to me.  As an existing customer who is most probably doing it to increase business with the creditor, I dont see a hard pull as servicing the needs of either party.

 

On the subject of CCC policy changes, I have an AT&T/CITI Universal Platimun Master Card that I have held for 15 years.  No lates, ever.  $14K CL.  Current % util, as it has been for a long time, is well below 10%.  They recently notified me that they were instituting an annual fee on the card of $35.  They say that this fee will  be refunded to me after one year if I charge an average of at least $1,000 a month on the card over the next year.  That to me is just plain extortion.

 


 

 

  1. So, the decision to require a hard pull is just plain punitive.  We are being punished for the new credit card law.  At least that is the way it appears.
  2. AND, they are beginning to figure ways to extort monies from those of us who do not use their card as much as they would like.

Sometimes credit gardening can be such a PITA!!

 

 


Starting Score: TU 737 EQ 721
Current Score: TU 741 EQ 741
Goal Score: TU 765 EQ 760


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Established Contributor
beenthere
Posts: 971
Registered: ‎01-13-2008
0

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

As important as my credit is to me, that 15 year old card'shistory would live to be exactly 25 years old.

1-14-08....... TU=683, EQ=667, EX=666
7-04-08....... TU=688, EQ=678, EX=682.......
.......4 of my 5 cards and a new car later.
2/13/09 and forever EX 693
Established Contributor
beenthere
Posts: 971
Registered: ‎01-13-2008
0

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

CREDIT UNIONS

1-14-08....... TU=683, EQ=667, EX=666
7-04-08....... TU=688, EQ=678, EX=682.......
.......4 of my 5 cards and a new car later.
2/13/09 and forever EX 693

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