Credit Limit Increase versus Hard Pull Hit[ Edited ]
09-27-2012 12:27 PM - edited 09-27-2012 01:40 PM
Hello MyFICO Gurus:
There are two existing cards -- a BofA Platinum Plus and Chase Sapphire. I requested the CL of the BofA card to $5k, and it was approved. Of course, I took a hit due to a BofA required hard pull. Now, I was thinking of requesting an increase on the other card. Chase informed me I will also take a required hard pull.
(1) Will increasing CLs -- essentially doubling available credit -- result in a FICO increase?
(2) Will the FICO increase from gaining more available credit outweigh any hit from hard pulls? (Well, is there a FICO increase from extending credit?)
(3) Is it better to do it all in one day or separated by some period of time? Days? Months? Year?
Current FICO before changes topping 710 with two cleared PR liens. No debt except re-fied student loan. No other negs.
Thanks, and I wish I could help you all, too! Any info is so much appreciated.