WILL IT HURT MY SCORE

[alsawye]

I am thinking of talking to my CCC and see if i can get an increase on my CL, will they pull just a soft hit or a hard hit, if it is hard i dont think it is worth doing, but if soft i might pursue

[llecs]

Depends on the CCC. Which CC is it?

Inquiry damage is overrated, IMO. If your scores are in the 700s and beyond, you may see a few solitary points missing after the app if you are relatively inquiry-free.

[alsawye]

i have 4 cards, us bank, cap1, chase, & hsbc, they are 300, 500, 500, & 300  my current scores are TU 655, EQ 653, EX (PLUS) 663, 

[Anonymous]

The short answer is yes.  A hard inquiry will hurt your score, if by hurt you mean will it lower it.  However, inquiries are only 10% of your total FICO and 1 inquiry will not dictate a 10% effect.  Inquiries only affect your FICO for 12 months.

New accounts will hurt your score much more than an inquiry.  If you get pulled hard, then CLI, this will be minimal impact.  If you apply for new account, get hard pull plus new account, this will affect your score much more so and for a longer period because it has affected your AAoA and newest account.

[alsawye]

thank you all for the timely response, one more questions for y' all... in your opinion would it 1) benefit me be asking all cards or just  1-3 of em for an increase, 2) based on my scores do ya think i have a chance

chase and us bank were opened in 12/06 cap1 in 06/07 and hsbc in 06/08

[Anonymous]

That greatly depends on the hard or soft inquiry issue.

CapOne is soft.  US Bank I don't know.  Chase I have heard usually soft.  Hopefully others with specific experience in each ccc can reply.

[PayingTheBills]

What's your util % for each card?  Have you ever been late on any of them?  Are there any other baddies on your report?

[alsawye]

under 5% only baddies are 2 small collections that have been paid

[PayYouNever]

If your UTL is under 5% and you have two paid derogs, then you have to wonder why you score isn't higher... but then thing to do best obtain CLI success is to ask for the CLI on the card in which you have had 6 consecutive months of On-time payments. HSBC will grant you that... that was their previously policy before all the tightening...

You should also be asking for APR reduction if you haven't missed any payments in 6 months.

[haulingthescoreup]

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PayYouNever wrote:

If your UTL is under 5% and you have two paid derogs, then you have to wonder why you score isn't higher... but then thing to do best obtain CLI success is to ask for the CLI on the card in which you have had 6 consecutive months of On-time payments. HSBC will grant you that... that was their previously policy before all the tightening...

You should also be asking for APR reduction if you haven't missed any payments in 6 months.

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Paid collections are scored the same as unpaid. The issue is that you went to collections, not whether or not you still owe.

Obviously, it does make a difference to other lenders, and to the larger issue of paying your debts.

Collections, especially if fairly recent, will definitely do a number on scores.