Reply
Regular Contributor
megaman1
Posts: 260
Registered: ‎11-28-2013

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?

Moderator Emeritus
tinuviel
Posts: 4,877
Registered: ‎11-02-2010

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
Valued Contributor
Themanwhocan
Posts: 1,278
Registered: ‎04-04-2013

Re: Hardpulls?

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


Valued Contributor
gdale6
Posts: 8,071
Registered: ‎12-13-2013

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.

EX Cred Sesame 07/14: 770 ; EX Fico8 Bankcard 06/14: 811
EQ Fico 05/14 781 ; EQ MPM 06/14: 765
TU Fico8 06/14: 719; TU MPM 06/14 706
Regular Contributor
PaBill
Posts: 109
Registered: ‎11-26-2009

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-802, EX-800, TU-804. Hanging in the Garden since 2/21/14. Think I'll stay until at least 8/15/14...
Hover over a card for the CL...
Valued Contributor
indiolatino61
Posts: 1,439
Registered: ‎11-10-2012

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?

 photo Logo-CreditCardCollection_zps46f2f9f7.jpgWmart (TU): 803, Disc it (TU): 807, CKarma (TU): 771, AmEx (EX): 755, CSesame (EX): 731, Quizz (EQ): 775, myFICO (EQ): 770.
Oldest: AmEx: 26Y-4M, AAoA: 7Y-5M, Utl: 2.73%, 12/24 Inq: 6/16, Income: $104k, Garden: 06/16/2014. Updated 06/23/2014.
Established Contributor
efranklin23
Posts: 1,519
Registered: ‎11-14-2013

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$7.5K5.5K$9K$5K500
EQ-665 TU-680 EX-705 (as of 5-20-14)
Regular Contributor
megaman1
Posts: 260
Registered: ‎11-28-2013

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?

Established Contributor
efranklin23
Posts: 1,519
Registered: ‎11-14-2013

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. 


$13.5K$7.5K5.5K$9K$5K500
EQ-665 TU-680 EX-705 (as of 5-20-14)
Valued Contributor
clocktick
Posts: 1,603
Registered: ‎12-07-2008

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 JUNE 2014 TU 779 EX 764 EQ 721
Amex BCP $24.1K/Clear $8.5- Barclays LLBean $15k/Sallie Mae $12.5 -Cap One QS $4 - 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- Discover IT $15k - Elan $8k GEMB Lowes $20k - Macy's $2k - Kohl's $800




Starting Score: 648
Current Score: 736
Goal Score: 765


Take the FICO Fitness Challenge


myFICO is the consumer division of FICO. Since its introduction 20 years ago, the FICO® Score has become a global standard for measuring credit risk in the banking, mortgage, credit card, auto and retail industries. 90 of the top 100 largest U.S. financial institutions use the FICO Score to make consumer credit decisions.

>> About myFICO
FICO Score - The Score that matters
Click to Verify - This site chose VeriSign SSL for secure e-commerce and confidential communications.
Fair Isaac Corporation is a BBB Accredited Financial Service in San Rafael, CA
FOLLOW US Social Media Facebook Twitter Pinterest Google+