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Eventually wrote:
I don't plan to ask for these now but want to know for future knowledge.Do CLI's involve a pull of your credit report?Sometimes hard sometimes saoft depending on the issuer but they generally let you know ahead oftime if they will require a new credit report and you can always askWhat about asking the APR be lowered? Is credit pulled for that?Usually not.Is the main reason for CLI's to decrease your debt to credit ratio?Depends. Me I may request an increase for that reason or if it is a card I would like to use more, I may ask just to keep uti on that card down.I get a little confused on this stuff.Thanks,Eventually
Eventually wrote:.Do CLI's involve a pull of your credit report?Is it a soft or hard pull?
Eventually wrote:What about asking the APR be lowered? Is credit pulled for that?
Eventually wrote:Is the main reason for CLI's to decrease your debt to credit ratio?I get a little confused on this stuff.
@Anonymous wrote:I don't plan to ask for these now but want to know for future knowledge.Do CLI's involve a pull of your credit report?Is it a soft or hard pull?What about asking the APR be lowered? Is credit pulled for that?Is the main reason for CLI's to decrease your debt to credit ratio?I get a little confused on this stuff.Thanks,Eventually
@haulingthescoreup wrote:
@Anonymous wrote:I don't plan to ask for these now but want to know for future knowledge.Do CLI's involve a pull of your credit report?Is it a soft or hard pull?What about asking the APR be lowered? Is credit pulled for that?Is the main reason for CLI's to decrease your debt to credit ratio?I get a little confused on this stuff.Thanks,Eventually
I asked for a CL increase on my USAA AmEx card and was deeply startled to get it. I have now realized that it will be perfect for an upcoming remodel, since I get a point for every dollar I charge, wherever I use it. Then I can pay it off with my line of credit. So I plan to churn a LOT of appliances, flooring, cabinetry and windows through this card.
If you have a points card and could get a CLI, this might be a reason to do so. I would like to say that this was carefully planned and analyzed, but it is just something that dawned on me after I got the new $30K CL. sheer dumb luck!
I didn't get a hard inq, but they had just done one a week or so ago for the HELOC, so I guess they didn't need one. It was done late at night by clicking a button, so no human took the time to refer to my report.
I asked for drops in my APR this past spring after seeing that my mostly-unemployed college senior had a rate half that of mine. They dropped the rates on both my cards to 9.25%; no inqs. This was all USAA; YMMV.
@oneloveforall_2000 wrote: