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CLI with Soft Pull bad when apping for mortgage?

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mojo_ny
New Contributor

CLI with Soft Pull bad when apping for mortgage?

II have 3 cards at high utilization. I can try to CLI one with a softpull that will pull my overall utilazation down. I will also pay down as much as possible. I am apping for a mortage this month. Will this hurt me? is it advisable?


Starting Score: 603 - EQ, 534 - TU, 669 - EX FAKO
Current Score: 647- EQ, 534 - TU,669 - EX FAKO, 674 TU FAKO
Goal Score: 700 Across the board


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Shogun
Moderator Emeritus

Re: CLI with Soft Pull bad when apping for mortgage?


@mojo_ny wrote:

II have 3 cards at high utilization. I can try to CLI one with a softpull that will pull my overall utilazation down. I will also pay down as much as possible. I am apping for a mortage this month. Will this hurt me? is it advisable?


Not if it's a SP, if you get a CLI and you pay that util down some, could help quite a bit.

Starting Score: 504
July 2013 score:
EQ FICO 819, TU08 778, EX "806 lender pull 07/26/2013
Goal Score: All Scores 760+, Newest goal 800+
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Current scores after adding $81K in CLs and 2 new cars since July 2013
EQ:809 TU 777 EX 790 Now it's just garden time!

June 2017 update: All scores over 820, just pure gardening now.
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2NE1
Established Contributor

Re: CLI with Soft Pull bad when apping for mortgage?

I doubt a CC company will grant you a CLI if you have high utilization? Perhaps you'd be more lucky, but what I've read on the Credit Approval board was that people who CLI request, usually paydown to 2% or sometimes not even have a balance before they are request a CLI and results an approval.

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