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mmmmmm
Posts: 156
Registered: ‎06-01-2012
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Re: 11 month or 1 year, does it really make a difference?

[ Edited ]

So sad, they said it would require a HP for them to completely submit my CLI request, so I turned them down.

 

I'm at $1,000 at the moment, and asked for $2,000-2,500.  I suppose that may have been a bit aggressive, but I've been with them a year, never requested a CLI before, and PIF the day my statement comes out, and use their card a lot, so I figured why not.

 

I suppose I'll just wait until I app for the 2 cards I was looking for to get the CLI from my current CCC.

 

Do you think it's worth a shot going through the automated system again and putting in a lower amount to see if it will auto approve, or would it look bad if they saw multiple attempts (if they can even see it)? Or wouldn't I have a chance a lower amount anyways?

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sunshine7157
Posts: 137
Registered: ‎11-11-2011
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Re: 11 month or 1 year, does it really make a difference?


mmmmmm wrote:

So sad, they said it would require a HP for them to completely submit my CLI request, so I turned them down.

 

I'm at $1,000 at the moment, and asked for $2,000-2,500.  I suppose that may have been a bit aggressive, but I've been with them a year, never requested a CLI before, and PIF the day my statement comes out, and use their card a lot, so I figured why not.

 

I suppose I'll just wait until I app for the 2 cards I was looking for to get the CLI from my current CCC.

 

Do you think it's worth a shot going through the automated system again and putting in a lower amount to see if it will auto approve, or would it look bad if they saw multiple attempts (if they can even see it)? Or wouldn't I have a chance a lower amount anyways?


....because the auto-approve is only a soft pull or what? If that is the case, I'd say try it.  Maybe put in for slightly less than double. Like $1800....


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Contributor
mmmmmm
Posts: 156
Registered: ‎06-01-2012
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Re: 11 month or 1 year, does it really make a difference?


sunshine7157 wrote:

....because the auto-approve is only a soft pull or what? If that is the case, I'd say try it.  Maybe put in for slightly less than double. Like $1800....



Yeah, I wasn't sure to be honest with you.  Discover only allows CLI requests over the phone and sometimes through a form online.  It's automated prompts, and then at the end it says, we may need some more info, and transfers you to a live CSR.

 

I spoke with another rep and she said regardless of the amount they usually always require a hard pull.  Sad.

 

Do people go on app sprees because the inquires don't show up to the other creditors right away, or just so they can clump the inquiries together?

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DaveSignal
Posts: 2,111
Registered: ‎07-29-2011
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Re: 11 month or 1 year, does it really make a difference?


mmmmmm wrote:

 

Do people go on app sprees because the inquires don't show up to the other creditors right away, or just so they can clump the inquiries together?



They do it because when you app all at once, you don't have to wait more than 1 year for ALL of the inqs to fall off.  If you spaced it out and apply regularly, you might always have inqs on your report.  They lenders see the inqs, but not the new accounts.  If it was spaced out and a lender saw three or four new accounts then they might be leary to lend to you.  But all at once, you could have just opened multiple new accounts but they probably wont show on your credit report for another month.

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mmmmmm
Posts: 156
Registered: ‎06-01-2012
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Re: 11 month or 1 year, does it really make a difference?


DaveSignal wrote:

They do it because when you app all at once, you don't have to wait more than 1 year for ALL of the inqs to fall off.  If you spaced it out and apply regularly, you might always have inqs on your report.  They lenders see the inqs, but not the new accounts.  If it was spaced out and a lender saw three or four new accounts then they might be leary to lend to you.  But all at once, you could have just opened multiple new accounts but they probably wont show on your credit report for another month.


Okay, that's what I assumed.  So basically the inquiry is placed on your report the second you apply and your report is pulled, there isn't a delay?

 

If you apped for 3 or 4 things, would the 4th app have the lowest score, or is there some kind of 30 day rule where none of the recent inquiries affect your score until they're a month old?

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OhioCPA
Posts: 471
Registered: ‎03-29-2011
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Re: 11 month or 1 year, does it really make a difference?

[ Edited ]

An INQ should show on the next pull of your credit file by a creditor.

 

If you time an app spree correctly the fourth INQ might only be the second for that CRA. Thus, the creditor might not be aware that you are applying for four different TL's within a short period of time. If you wait until the new accounts hit your reports then the creditors will see the recent accounts on any of the reports. This assumes that all creditors only pulled one of your three reports. CapOne and Amex on ocassion are known to pull all three.

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mmmmmm
Posts: 156
Registered: ‎06-01-2012
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Re: 11 month or 1 year, does it really make a difference?

Is there any real advantage to applying for a CC over the phone versus online?  Both are able to provide instant approvals/denials, and also the wait 5-7 days message.  Would you have a better chance to get approved if you spoke with someone about it over the phone and went through everything, or is that mainly a false sense of security?

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Revelate
Posts: 9,735
Registered: ‎12-30-2011
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Re: 11 month or 1 year, does it really make a difference?


mmmmmm wrote:

Is there any real advantage to applying for a CC over the phone versus online?  Both are able to provide instant approvals/denials, and also the wait 5-7 days message.  Would you have a better chance to get approved if you spoke with someone about it over the phone and went through everything, or is that mainly a false sense of security?


My opinion only, do what everyone else does and apply online.  Then if you get denied or get stuck waiting, you can call in and recon.

 

The problem with any phone conversation is unless you're *really* good on the phone, it can go against you if the analyst on the other end is just having a bad day for whatever reason.  From my own CS experience, I suspect most people have a larger chance to damage their approval by applying over the phone.  Leverage the psychology on a recon that maybe someone wants to help people out: you just don't get that without a long-winded dicussion you probably don't want to have in applying for a new card anyway.  

 

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