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Inquiry of creditor I already have account with

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Anonymous
Not applicable

Inquiry of creditor I already have account with

I am contemplating applying for an increase in credit limit for one of my credit cards.  Currently, the card is paid off.  My overall score is around 720.  I understand that an inquiry that anexisting creditor requests, does not affect my score.  Is this true even if I initiate the inquiry/ask for increase in credit limit?
 
Thanks much,
 
Hanniss
Message 1 of 6
5 REPLIES 5
smallfry
Senior Contributor

Re: Inquiry of creditor I already have account with

Some creditors will do a soft pull others will pull hard. Some might even lie to you. Can you imagine that? Who is the company in question?
Message 2 of 6
Anonymous
Not applicable

Re: Inquiry of creditor I already have account with

The company in question is B of A, formerly MBNA.  Yes, they have lied to me before and said they would do soft pull but didn't.  My understanding, based on what FICO says is that inquiries of my existing creditors do not impact my score, even if it is a hard pull. 
Message 3 of 6
Anonymous
Not applicable

Re: Inquiry of creditor I already have account with

A hard inq, is a hard inq, is a hard inq. I don't think that FICO or the CRA's concern themselves if your existing ccc pulls a hard inq on you. I would think it would still effect(affect?) your score.

I'm going on the assumption that it does. IF they pull a hard inq on you for a cli.

On the other hand your score is very strong, and based on your history with BoA, they might just look at your pay history, and pull a softie on you.

There! How's that for double talk? lol. Seriously though, it's anybody's guess, unless someone chimes in that's had a BoA card for a long time, and have rec'd cli's.
Message 4 of 6
haulingthescoreup
Moderator Emerita

Re: Inquiry of creditor I already have account with


@Anonymous wrote:
My understanding, based on what FICO says is that inquiries of my existing creditors do not impact my score, even if it is a hard pull.


I think that the inqs by existing creditors you're referring to are the so-called -AR prefix inqs, account review, where they go in and mosey around to decide if they're going to lower your CL, or triple your APR. This is from the "what's not in your score" under credit education:

Certain types of inquiries (requests for your credit report).
The score does not count “consumer-initiated” inquiries – requests you have made for your credit report, in order to check it. It also does not count “promotional inquiries” – requests made by lenders in order to make you a “pre-approved” credit offer – or “administrative inquiries” – requests made by lenders to review your account with them. Requests that are marked as coming from employers are not counted either.

I've never seen anything where FICO says that hard inqs by existing creditors don't count, but then, every time I go on this site, I stumble across another tab I had never seen before. FWIW, I had a pre-approved offer of a HELOC from an existing creditor (2 CC's, checking, Roth IRA), and they did a hard. But I've also seen plenty of softs on my EQ where they've just been checking up on things. Smiley Happy
* 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
Message 5 of 6
Anonymous
Not applicable

Re: Inquiry of creditor I already have account with

Here is how it's supposed to work:
 
You request a CLI >>>> you get a hard inq because you have applied for more credit
 
Current creditor wants to have a look for account review purposes >>>>> you get a soft inq because you didn't initiate the request
 
But as others have noted, it's not always consistent. Smiley Mad
Message 6 of 6
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