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Hardpulls?

Regular Contributor

Hardpulls?

If I don't plan to apply for any new cards in the future since I have my AMEX BCE, Discover IT, and Chase Freedom, should I be conservative with my hardpull CLI's? Because in my opinion, I don't really see any need to "conserve" and not do hardpulls because they drop off within a year?

Message 1 of 14
13 REPLIES
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Moderator Emeritus

Re: Hardpulls?

You do whatever is most beneficial for you in a given situation. If you're not planning on getting any new cards, or a mortgage or other loan, and if you feel that you would benefit from the CLIs, then go for it.


Current Scores: EQ 775 (03/04/2014), EX 756 (03/01/2014), TU 760 (03/01/2014)
Ruby Spade Garden Club Member - Last App: 03/04/2013 - No apps until 2014
Cards: Cap1 Venture 6.4k, Cap1 Quicksilver MC 1.75k, BankAmericard 1-2-3 Visa Signature - UCF Alumni Association 5k, Discover 7k, Citi Diamond Preferred MC 10.35k, Wells Fargo Rewards Visa 7k, Chase Freedom 5k, Chase Ink 7.5k, Amex Green NPSL, Dillard's Amex 7.5k, JC Penney 7.5k, Kay Jeweler's 5.1k
Message 2 of 14
Senior Contributor

Re: Hardpulls?

There is no point in having Dice, if you're not willing to throw them occasionally.





TU-8: 799 EX-8: 793 EQ-8: 763    EX-8 Bankcard: 818    
TU-9 Bankcard: 795 EQ-9: 821
   EX-98: 756 EQ-04: 755
Total $437,800
Message 3 of 14
Moderator

Re: Hardpulls?


megaman1 wrote:

If I don't plan to apply for any new cards in the future since I have my AMEX BCE, Discover IT, and Chase Freedom, should I be conservative with my hardpull CLI's? Because in my opinion, I don't really see any need to "conserve" and not do hardpulls because they drop off within a year?


HPs stay on for 2 years they just stop affecting your FICO score after 1 yr.


"If there's a lack of money in your life, understand that feeling worried, envious, jealous, disappointed, discouraged, doubtful or fearful about money can never bring more money to you, because those feelings come from a lack of gratitude for the money you have."

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- Rhonda Byrne
Message 4 of 14
Regular Contributor

Re: Hardpulls?


gdale6 wrote:

megaman1 wrote:

If I don't plan to apply for any new cards in the future since I have my AMEX BCE, Discover IT, and Chase Freedom, should I be conservative with my hardpull CLI's? Because in my opinion, I don't really see any need to "conserve" and not do hardpulls because they drop off within a year?


HPs stay on for 2 years they just stop affecting your FICO score after 1 yr.


I guess we have to hold onto older CBRs now, just so we know what 1-2 year old Inq, are there.  I just pulled my CBRs last night and, not only do they not affect your score, they're not listed.  (I had 5 last Jan/Feb that are no longer there.)

EQ-805, EX-797, TU-804. Back in the Garden on 8/4/15. Just came out for a 5K CLI bump on the Barclay card...
Hover over a card for the CL...
Message 5 of 14
Valued Contributor

Re: Hardpulls?


megaman1 wrote:

If I don't plan to apply for any new cards in the future since I have my AMEX BCE, Discover IT, and Chase Freedom, should I be conservative with my hardpull CLI's? Because in my opinion, I don't really see any need to "conserve" and not do hardpulls because they drop off within a year?


I suppose that depends on whether the lender issuing the CLI is inquiry sensitive. I don't know if CLI's are less stringent with the inquiries as new TL. Maybe someone can answer that?

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Message 6 of 14
Valued Contributor

Re: Hardpulls?


megaman1 wrote:

If I don't plan to apply for any new cards in the future since I have my AMEX BCE, Discover IT, and Chase Freedom, should I be conservative with my hardpull CLI's? Because in my opinion, I don't really see any need to "conserve" and not do hardpulls because they drop off within a year?


It all depends on the lender, some you can do HPs over and over and they wouldn't care. For other lenders, you have to watch HPs as they will not grant you CLIs because of them. And to note, as the FICO don't count the inquiries after a year on your credit doesn't mean you're in the clear Some companies (like Barclays and Iberia) are using smaller CBs to look at INQs that can stay on your report and count well past that year so beware. 

AMEX BCE (30K), DISCOVER IT (29.5K), NFCU CASH REWARDS (25K), BOA TRAVEL REWARDS (15K), USAA VISA (13K), CHASE SAPPHIRE RESERVE (13K), COMMENCE MASTERCARD (7.5K), CHASE FREEDOM (7K), CHASE FREEDOM (7K), TFCU CC (2.5K), TARGET REDCARD (900)
Message 7 of 14
Regular Contributor

Re: Hardpulls?


efranklin23 wrote:

megaman1 wrote:

If I don't plan to apply for any new cards in the future since I have my AMEX BCE, Discover IT, and Chase Freedom, should I be conservative with my hardpull CLI's? Because in my opinion, I don't really see any need to "conserve" and not do hardpulls because they drop off within a year?


It all depends on the lender, some you can do HPs over and over and they wouldn't care. For other lenders, you have to watch HPs as they will not grant you CLIs because of them. And to note, as the FICO don't count the inquiries after a year on your credit doesn't mean you're in the clear Some companies (like Barclays and Iberia) are using smaller CBs to look at INQs that can stay on your report and count well past that year so beware. 


And that is why I won't ever apply for Barclays or Iberia Smiley Happy
Which lenders are inquiry sensitive and which arent?

Message 8 of 14
Valued Contributor

Re: Hardpulls?


megaman1 wrote:

efranklin23 wrote:

megaman1 wrote:

If I don't plan to apply for any new cards in the future since I have my AMEX BCE, Discover IT, and Chase Freedom, should I be conservative with my hardpull CLI's? Because in my opinion, I don't really see any need to "conserve" and not do hardpulls because they drop off within a year?


It all depends on the lender, some you can do HPs over and over and they wouldn't care. For other lenders, you have to watch HPs as they will not grant you CLIs because of them. And to note, as the FICO don't count the inquiries after a year on your credit doesn't mean you're in the clear Some companies (like Barclays and Iberia) are using smaller CBs to look at INQs that can stay on your report and count well past that year so beware. 


And that is why I won't ever apply for Barclays or Iberia Smiley Happy
Which lenders are inquiry sensitive and which arent?


I'll say Discover, Iberia, PenFed and Barclays are INQ Sensitive. Others, not so much. 

AMEX BCE (30K), DISCOVER IT (29.5K), NFCU CASH REWARDS (25K), BOA TRAVEL REWARDS (15K), USAA VISA (13K), CHASE SAPPHIRE RESERVE (13K), COMMENCE MASTERCARD (7.5K), CHASE FREEDOM (7K), CHASE FREEDOM (7K), TFCU CC (2.5K), TARGET REDCARD (900)
Message 9 of 14
Valued Contributor

Re: Hardpulls?


megaman1 wrote:

If I don't plan to apply for any new cards in the future since I have my AMEX BCE, Discover IT, and Chase Freedom, should I be conservative with my hardpull CLI's? Because in my opinion, I don't really see any need to "conserve" and not do hardpulls because they drop off within a year?


I'm not conservative with HPs since I'm not about to apply for new credit.  I just took one (or possibly more!) the other day for the CSP.  Come to think of it, I've never really been conservative with HPs if I really want a card or CLI.  Yes, they stop counting after a year and drop off after two.

11/30/08 TU 648 EX 672 EQ 656 SEPT 2014 TU 787 EX 789 EQ ???
Amex BCP $24.1K/Clear $8.5- Sallie Mae $27.5 -Cap One QS $7.5 - Chase Freedom $7.5/United $5k/CSP $20k/Ink- Citi DP $9.5/Dividend $13k/HHHx2 $15k/16.4/Reserve $4.5k Best Buy $1940 HD $1701- Discover IT $15k - Elan $8k GEMB Lowes $20k - Macy's $2k - Kohl's $800




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Message 10 of 14