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Question on app sprees

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MT936
Established Contributor

Question on app sprees

what is the difference in impact on credit score  from 1 hard pull compared to the app spree hard pull where multiple hard pulls are performed? Im planning on applying for a new card soon and thought since i will be taking a hard pull i might as well use it as a opportunity to request hard pull credit limit increases on my cards. How badly will my score be dinged from taking all these hard pulls compared to just the single hard pull from the new credit app?

Amex Blue Cash Everyday: $25,000 | Navy FCU Cash Rewards: $25,000 | Discover It: $20,500
Chase Freedom: $12,500 | Citi Double Cash: $10,000 | Bank of America Cash Rewards: $8,000

Message 1 of 6
5 REPLIES 5
vanillabean
Valued Contributor

Re: Question on app sprees

There’s no such thing as "at the same time”, so there is also no “might as well". Inquiries happen in real time, so it doesn’t matter if they are seconds or days apart. Inquiries on average provide for a drop of 5-10 points each; use simple addition for multiple inquiries (up to six).

 

Message 2 of 6
MT936
Established Contributor

Re: Question on app sprees

It won't be 5-10 points each your score can only drop to a certain amount from all the inquires that's the benefit of doing a spree to lessen the impact compared to multiple spread out apps
Amex Blue Cash Everyday: $25,000 | Navy FCU Cash Rewards: $25,000 | Discover It: $20,500
Chase Freedom: $12,500 | Citi Double Cash: $10,000 | Bank of America Cash Rewards: $8,000

Message 3 of 6
takeshi74
Senior Contributor

Re: Question on app sprees

Impact is going to vary with credit profile and it's never just about the score.  A thinner credit profile is going run into number of inquiries as a reason for denial faster than a thicker credit profile.

Message 4 of 6
Anonymous
Not applicable

Re: Question on app sprees

Are you planning any big purchases in the near future (house, car ect.)?

 

If so, you might not have much to gain from taking the HPs or opening cards.

Message 5 of 6
MT936
Established Contributor

Re: Question on app sprees

I'm just opening of 1 new card then I was planning on doing hard pull cli requests on some of my other cards
Amex Blue Cash Everyday: $25,000 | Navy FCU Cash Rewards: $25,000 | Discover It: $20,500
Chase Freedom: $12,500 | Citi Double Cash: $10,000 | Bank of America Cash Rewards: $8,000

Message 6 of 6
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