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I just finished paying off my discover card and i finally have the option to ask for a credit line increase via automated. They took it away when my balance was high.
My questions are, 1- is it a hard pull or soft if i do it automated (press 3 then press 5)?
and 2- will the system counter offer if i ask for too much or is there a set system like amex where you ask for 3x the current limit?
Thanks
anybody?
it can be both. my advice is to speak to someone who can assure you that it is not a hard. the automated system has always been soft in my experience.
@learnin113 wrote:it can be both. my advice is to speak to someone who can assure you that it is not a hard. the automated system has always been soft in my experience.
Thanks learnin, do they counter offer?
It warns you online if the amount or the request will require a HP. If it prompts you to agree to HP, make sure you actually click cancel or the CLI request will remain open and thus you won't be able to try another SP request online.
@oracles wrote:
@learnin113 wrote:it can be both. my advice is to speak to someone who can assure you that it is not a hard. the automated system has always been soft in my experience.
Thanks learnin, do they counter offer?
Yup.
@oracles wrote:
@learnin113 wrote:it can be both. my advice is to speak to someone who can assure you that it is not a hard. the automated system has always been soft in my experience.
Thanks learnin, do they counter offer?
It can definitely be both. From my personal experience, if you use the automated line... they may approve your request, counter with a different amount or say you need to be transferred to a rep. Basically if they approve and/or counter, they've usually only soft. If you are transferred, the rep typically gathers your information and asks for your permission to pull a hard report. Good luck!
If you do it live via CSR, you can inform them to check what you can get with a soft. Unlike the online system, they can enter an unspecified amount, which in theory should return the maximum non-HP value you're eligible for.
In practice, I prefer to do it over the web. They offered me a $4,000 CLI online via SP, but I backed out to try for more and obviously screwed something up, resulting in the "CLI in progress" message. I called a CSR (very helpful) who offered to try a few numbers for me over the phone. Long story short, at the end of the ordeal she could only get me $3,000, and auto-accepted it without asking, so I missed out on $1,000 of CL for the next six months.
So if you can, I would try online via Help Center > More > Request a Credit Line Increase.
You need to hit cancel, to terminate the existing request and then it will clear. Otherwise that request is pending and won't allow a new one, thus the need for a live rep.
Thanks guys, really appreciate your reponses.
So even online, it will counter offer you? If so, then i should just do it on the internet