BofA Secured Credit Limit Increase = Hard pull?

[Rebuilding101]

I called because I had initially wanted to deposit 500 instead of 300 to be used as my credit limit. So I call again now that I've been approved, and a few reps have told me to either go into the store or that they could do it over the phone (depending on which rep you asked).

The last rep I spoke to said that it had to be approved, which I already knew, but something prompted me to ask if it was a soft pull inquiry and she was adamant that it was a hard pull, saying they had to review my credit history to determine whether or not the increase could be approved.

Anyone have any experience in this?

[Creditaddict]

I'm confused are you trying to add more money to your secured account to increase the credit line or are you trying to go unsecured and get more credit line?

If you just want to add more money, you call in for the secured account address and send money in viola it's added to your account when your check clears.

If you are trying to unsecure, your account needs to be at least 9 months old and it's a hard pull and if they approve you to unsecure they will usually increase your cl $500

[Rebuilding101]

Yeah, I made it pretty obvious I just wanted to add funds to increase the limit, not go unsecured. I'll try another rep, I wanna make sure I don't get a hard pull on my CRAs

[Rebuilding101]

So it seems the consensus is that it is a hard pull on the account :/

I really wanted to just continue to add funds every month, so this kinda sucks. Oh well.

[Anonymous]

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@Rebuilding101 wrote:

So it seems the consensus is that it is a hard pull on the account :/

I really wanted to just continue to add funds every month, so this kinda sucks. Oh well.

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I don't know about that. Unless BoA has changed their policy (...maybe they have, buy it wouldn't make a lick of sense), there's no hard pull to add money to your secured card.

Try sending an email to a CSR stating only that you want to deposit additional funds to your secured credit card to increase your available credit.

[Rebuilding101]

I did just that online, and it told me to call the secured card number. Thats were two different reps confirmed the hard pull

[Wolf3]

Why do you care about inquiries at this point in your rebuilding?  Are you planning on applying for more credit soon?

[Rebuilding101]

Well yes, if I'm asking for credit line increase, and they're saying it's going to be a hard pull, then each time I want to deposit money it's going to affect my score.

And also, because I don't want inquiries on my report. That's one of the whole points of this community board right?

[Rebuilding101]

I'm taking it as official, 6 reps later, since they all say the same thing. That since the new law was enacted, they have to do the hard pull. I don't know what that means, but I guess I'll just wait for it to graduate to an unsecured on it's own. Thanks everyone!

[tray]

Well how BOA have changed nowadays for the worse, I remember when I had a secured BOA card in 2007 I placed extra money on the card to increase the limit and there was NO HARD PULL and no SOFT PULL NEITHER the effects of this credit card act if that is the case now really stinks.  Hopefully you can do something to better your situation.