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I'm chipping away at improving my fico and clearing up my baddies. This year Cap one from $1500 to $5000.
Now time for a second card. I'd been looking at a couple of options and then yesterday in a B of A branch was told I was pre-approved for a Cash Rewards Card. I keep a decent balance in two accounts with B of A and have a long banking relationship with them which may help.
The branch wasn't sure if it was a soft or hard pull--trying to avoid hard pulls, but perhaps with a pre-approval it's worth it.
So two questions:
Anyone know if it's a soft or hard pull? which bureau do they pull?
And if it is hard pull, do y'all think it's worth it knowing it's a pre-approval?
Many thanks in advance!!
I'm pretty sure it would be a HP. If you only have one CC in my opinion go for it. In the long run it will benefit you more to have two cards reporting. It really depends on your credit file and how old your baddies are and positive TLs reporting if you get approved. Pre-approved isn't always approved you could find out if your file isn't fairly strong.
congrats on your Cap1 increase
@chyguy71 wrote:I'm chipping away at improving my fico and clearing up my baddies. This year Cap one from $1500 to $5000.
Now time for a second card. I'd been looking at a couple of options and then yesterday in a B of A branch was told I was pre-approved for a Cash Rewards Card. I keep a decent balance in two accounts with B of A and have a long banking relationship with them which may help.
The branch wasn't sure if it was a soft or hard pull--trying to avoid hard pulls, but perhaps with a pre-approval it's worth it.
So two questions:
Anyone know if it's a soft or hard pull? which bureau do they pull?
And if it is hard pull, do y'all think it's worth it knowing it's a pre-approval?
Many thanks in advance!!
Definitely hard pull. In fact, they pulled 2 for me- TU and EX. Good customer service though!
I have had two PLs telling me that for approving me card it will be SP (Amex and Cap One) but it never is a SP for these card approval. I thinks its always a HP for PLs.
Soft pull to present the offer
Hard pull when you apply.
I just got this card. They pulled EX for me. Am also a Bank of America deposit account customer.
Definitely HP. TU and/or EX for sure. If the card benefits are of appeal to you, then go for it. Good luck.
I would take the plunge