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Regular Contributor
Posts: 260
Registered: ‎11-28-2013
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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?

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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.


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Registered: ‎04-04-2013
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Re: Hardpulls?

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


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Registered: ‎12-13-2013
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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.

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Registered: ‎11-26-2009
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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.)

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Valued Contributor
Posts: 1,540
Registered: ‎11-10-2012
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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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Valued Contributor
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Registered: ‎11-14-2013
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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. 

$13.5K$7K6K$15K$5K1K
$5K

EQ-659 TU-676 EX-705 (as of 8-15-14)
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Posts: 260
Registered: ‎11-28-2013
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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 :smileyhappy:
Which lenders are inquiry sensitive and which arent?

Valued Contributor
Posts: 1,554
Registered: ‎11-14-2013
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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 :smileyhappy:
Which lenders are inquiry sensitive and which arent?


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

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EQ-659 TU-676 EX-705 (as of 8-15-14)
Valued Contributor
Posts: 1,603
Registered: ‎12-07-2008
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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.

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