If I apply for 1 new CC and 1 CLI within 2 weeks. How many HP will this be considered?

[Anonymous]

Hi.  If I apply for 1 new CC and 1 CLI within 2 weeks.  How many HP will this be considered?

I am trying to get a CLI on an existing CC (BOA) and apply for a new CC (Discover)  all within 2 weeks.  Will this be consideredd 1 HP?  I am trying to have the lest amount of HP as possible which getting a CLI on existing CC and new CC.

What is the best approach for me to do this?  Thank you.

[1GaDawg85]

they will be separate HP's since it is from a separate company. 

[ravaage]

I think it just depends on the bank, I am not sure about Disover or BOA

My experience: 

CapitalOne was able to get me a CLI without an HP (9 months with account) 

Barclayscard was able to get me a CLI without and HP (9 months with account) 

Chase wanted another HP when I tried the day after I got approved for $500 on a freedom. I opted out and apped the CSP and got appoved for $5,000! Well worth the HP! 

[Anonymous]

Thanks for the replies.

Here is my sitiuation.

I have the following:

CaptitalOne Limit 3k

BOA Limit 5k

Amazon Store Card $2k

JCPenny Store Card $2k

BOA recently raised my limit from 3k to 5k without asking.  I mainly use my BOA CC and looking at my history I spend about 23k last year which I always pay promptly.  My utilizatoin is 16% total on all cards noted.

I was thinking of getting a Discover card but mainly I want to have at least 10k on one CC (BOA preferred as I used this the most).  My credit dropped this year when I purchased a home and have a lease car payment.  I am new to building a credit history and only been in US for 2.5 years.

I'm wondering if I can justify with BOA since I spend 20k + yearly and 5k seems low.  My understanding is higher the limit the better to build my credit score.  If one rasies the other's would follow or the next new CC would give me a higher initial limit?

Utimately I want to have high CLI as I see in this forum and get my score up.  I believe I am around 700 now based on credit karma.  NOt accurate but a gauge.  I know I was at one point 720 fico before home purchase.

My new CC I want one with a good cash back.  So still researching the best.  I like Discover so far.

Thanks

[Anonymous]

Every credit card HP is a separate one. Unlike auto loan pulls where all pulls within X period (14 or 45 days depending on score) count as one, for credit cards every pull is separate. If your CC and CLI are from the same issuer, they might only pull once if lucky. But most issuers will pull twice. If the CC and CLI are different issuers you will end up with two HPs. 

Some issuers have SP options for a CLI, but it varies by issuer and there is no hard and fast rule that applies to all. Similarly, some issuers will even give you a CC with an SP (this is very rare). 

[Skye12329]

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@Anonymous wrote:

Thanks for the replies.

Here is my sitiuation.

I have the following:

CaptitalOne Limit 3k - All CLI requests are SP for them

BOA Limit 5k - All CLI requests are HP

Amazon Store Card $2k - I think these are SP because isnt it synchrony or ge for this card?

JCPenny Store Card $2k - HP for CLI its Citi Bank if i recall

BOA recently raised my limit from 3k to 5k without asking.  I mainly use my BOA CC and looking at my history I spend about 23k last year which I always pay promptly.  My utilizatoin is 16% total on all cards noted.

I was thinking of getting a Discover card but mainly I want to have at least 10k on one CC (BOA preferred as I used this the most).  My credit dropped this year when I purchased a home and have a lease car payment.  I am new to building a credit history and only been in US for 2.5 years. ALL CC are apps are generally a HP, Discover will pull Equifax mainly. 

I'm wondering if I can justify with BOA since I spend 20k + yearly and 5k seems low.  My understanding is higher the limit the better to build my credit score.  If one rasies the other's would follow or the next new CC would give me a higher initial limit? Not always, other CC companies do not care what your other limits are. However it could improve chances of better limits but not guranteed. Like as mentioned in a previous post, Chase might start you lower on the first card but then give you a higher limit on the 2nd. For me i applied for Chase Freedom got 2k, and then CSP and got 5k. After 4 mos. my freedom increased to 4k. 

Utimately I want to have high CLI as I see in this forum and get my score up.  I believe I am around 700 now based on credit karma.  NOt accurate but a gauge.  I know I was at one point 720 fico before home purchase.

My new CC I want one with a good cash back.  So still researching the best.  I like Discover so far.

Thanks

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[newhis]

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@Skye12329 wrote:

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@Anonymous wrote:

JCPenny Store Card $2k - HP for CLI its Citi Bank if i recall

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JCPenny was GE now Syncrony. I sent a secured message and they said that user requested increases are HP, but I can't find a single post in this forum that can confirm that, I read that with GE they were SP.

[Anonymous]

Thank you for the replies.  Very helpful.  Yes JCP have now moved to Syncrony.  I think I will go for a new CC before a CLI on my BOA.  Thank you all.