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New Contributor
alsawye
Posts: 73
Registered: ‎03-26-2009
0

WILL IT HURT MY SCORE

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
ch7 BK 09/2011

EQ ??? TU- Walmart FICO 630 4/12/13 EX FICO 639 Lender Pull 4/6/13
Moderator Emeritus
llecs
Posts: 32,880
Registered: ‎08-04-2007
0

Re: WILL IT HURT MY SCORE

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.
New Contributor
alsawye
Posts: 73
Registered: ‎03-26-2009
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Re: WILL IT HURT MY SCORE

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, 
ch7 BK 09/2011

EQ ??? TU- Walmart FICO 630 4/12/13 EX FICO 639 Lender Pull 4/6/13
Senior Contributor
txjohn
Posts: 4,214
Registered: ‎09-12-2008
0

Re: WILL IT HURT MY SCORE

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.

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09/03/2009 TU: 777, EQ: 776 ($8 balance on an account dropped me out of 780's)
03/28/2009 TU: 814, EQ: 810, EX: 781 (02/12/2009)
05/18/2005 TU: 563, EQ: 580, EX: 549
New Contributor
alsawye
Posts: 73
Registered: ‎03-26-2009
0

Re: WILL IT HURT MY SCORE

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

ch7 BK 09/2011

EQ ??? TU- Walmart FICO 630 4/12/13 EX FICO 639 Lender Pull 4/6/13
Senior Contributor
txjohn
Posts: 4,214
Registered: ‎09-12-2008
0

Re: WILL IT HURT MY SCORE

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.

Credit Scoring 101 - Tuscani   *  Guide to Common Abbreviations
Frequently Requested Threads * FICO High Achievers  *  FICO Score Estimator


09/03/2009 TU: 777, EQ: 776 ($8 balance on an account dropped me out of 780's)
03/28/2009 TU: 814, EQ: 810, EX: 781 (02/12/2009)
05/18/2005 TU: 563, EQ: 580, EX: 549
Frequent Contributor
PayingTheBills
Posts: 353
Registered: ‎01-29-2009
0

Re: WILL IT HURT MY SCORE

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

Starting Score: 540 EQ 517 TU on 11/17/08
Current Score: 668 EQ 715 TU
Goal Score: 760 EQ 760 TU


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New Contributor
alsawye
Posts: 73
Registered: ‎03-26-2009
0

Re: WILL IT HURT MY SCORE

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

ch7 BK 09/2011

EQ ??? TU- Walmart FICO 630 4/12/13 EX FICO 639 Lender Pull 4/6/13
Frequent Contributor
PayYouNever
Posts: 396
Registered: ‎08-11-2007
0

Re: WILL IT HURT MY SCORE

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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Epic Contributor
haulingthescoreup
Posts: 28,115
Registered: ‎04-01-2007
0

Re: WILL IT HURT MY SCORE


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.



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.
* Credit is a wonderful servant, but a terrible master. * Who's the boss --you or your credit?
FICO's: EQ 781 - TU 793 - EX 779 (from PSECU) - Done credit hunting; having fun with credit gardening. - EQ 590 on 5/14/2007

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