Valued Contributor
IOBA
Posts: 2,668
Registered: ‎08-13-2009
Re: Is this advice correct?

My experience has been that if a company does a soft pull (which is what they typically do for a credit line increase) that I loose 5-10 points off of my FICO score.

 

My experience has been that if a company does a hard pull (which they SOMETIMES do for a credit line increase) that I loose 9-16 points off of my FICO score.

 

My FICO score is typically in the low 800's/borderline 800 -- depending on life and the volatile mood of the FICO algorithm.

 

You would take a hit for the credit inquiry (soft or hard), BUT may gain a few points with more available credit.   So big picture, it may be a wash as for a the score goes.