Negative Impact

[magdiel1975]

Hi..

I recently applied for a credit limit increase for my creditcard and at first it was denied..but then I called back a few days later and after further review my request was approved. My questions are...

What happens to my credit score after something like this?

Will the first "declined" affect my credit score even though it was then approved?

Thanks for your input.

[llecs]

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@magdiel1975 wrote:

Hi..

I recently applied for a credit limit increase for my creditcard and at first it was denied..but then I called back a few days later and after further review my request was approved. My questions are...

What happens to my credit score after something like this?

Will the first "declined" affect my credit score even though it was then approved?

Thanks for your input.

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Welcome!

If at the time of the initial application they added an inquiry then that may or may not negatively impact your FICO score. Not every inquiry hurts and any damage is relatively minor. When you called back then it's possible they added a second inquiry. Some do and some don't. It's up to them. Again, damage, if any, varies. FICO doesn't know or even care if you were approved for the credit card or not. It doesn't matter if it was a decline or an approval.

[magdiel1975]

Hi..thanks for the response...

I ask because I was told that if an inquiry is due to a declined request, it is considered a hard hit..but if it was approved, then it is a soft hit..so, you're saying that they are both the same no matter if it was an approve or deny?

[llecs]

Most all creditors will pull a hard inquiry. It doesn't matter if it was approved or not.