@Anonymous wrote:
Generally speaking, is losing a few points from a hard credit card inquiry worth the benefits of having a greater overall access to more credit? Additionally, how long would it take to 'recover' those lost points?
I currently have the Discover IT card with an $8,200 limit and a Capital One with $3,500 limit.
I'm realitively new to the credit "game." The Capital One is 6 years old and is my oldest card. I've never missed a payment on anything (including two car loans, one of which has been completely paid off), keep my utilization ratio between 8-10%, usually pay in full each month, etc. My scores from the three bureas are currently inbetween 756-798.
Additionally, the CL from the Capital One was increased within the last 3-months (originally at $500). This was via a soft-inquiry. I'm considering requesting a CL increase through the Discover (I've had it for over a year), but I'm just weighing my options.
To me yes it's worth a few and sometimes no point loss, but every situation is different because you may not get what you want. I would just call the backdoor for Discover and talk to them that way you can recon right there and then if the increase they give you doesn't meet your needs.
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