topic Re: CapitalOne CLI - Soft Pull vs. On File Information in Credit Card Applications

CapitalOne CLI - Soft Pull vs. On File Information

jer2305 — Thu, 06 Dec 2018 15:44:43 GMT

Hi All,

I’ve read quite a bit in the forums that capitalone uses many sources in determining CLI. I started with the Platinum card w/ a $1500 limit back in 2010 and haven’t used the card much until this summer when i changed it to a QuickSilver one for the 1.5% cashback. Over the past year or so I had pretty high util across other cards but as of last month I paid quite a bit of balances down and credit karma refreshed today to show scores around 690 (TU). My CapitalOne credit wise app doesn’t refresh for another two days.

I guess my question is should I wait for the CapitalOne credit wise app to refresh, or does CapitalOne pull a new soft report anyways? Want to make sure they don’t go off of old information that may not be updated...if so I would rather wait a little bit so they are seeing the most recent info (as seen in my credit karma app as of the 11/28 statement cut for CapitalOne).

Thanks!

Re: CapitalOne CLI - Soft Pull vs. On File Information

Anonymous — Thu, 06 Dec 2018 15:51:58 GMT

It might be helpful to know your actual FICO 8 scores and not just the Vantage Scores provided by Credit Karma and Capital One's Crediwise app. As far as I know CapitalOne uses your FICO 8 scores to make credit decisions so any application for a CLI so be predicated on first getting your FICO scores so you can make an informed decision.

You can purchase your FICO 8 scores from CreditCheckTotal.com for $1; just be sure to cancel the trial subscription before it expires in 10 days to avoid being charged the full monthly fee.

Re: CapitalOne CLI - Soft Pull vs. On File Information

RonM21 — Thu, 06 Dec 2018 17:36:39 GMT

Maize is right about getting your Fico scores. The scores you are dealing with are Vantage scores and they tend to react a little to a lot differently. Also, for any lender, it is not uncommon to see them refer to credit info for up to a few months back. I am not saying that will be the case here, but I wanted to make you aware.

Re: CapitalOne CLI - Soft Pull vs. On File Information

jer2305 — Thu, 06 Dec 2018 22:15:36 GMT

Thank you both.

I hit the button and received the 2-3 day message. I remember doing that in the past and I received the secure message denial in my inbox within a few minutes. It’s been a few hours and I haven’t received the secure message with more information. Anyone know if that’s a good sign?

Thanks!

Re: CapitalOne CLI - Soft Pull vs. On File Information

RobertEG — Thu, 06 Dec 2018 22:39:35 GMT

If all an existing creditor wants to do is to review your current account with them, they dont need to do any credit pull from a CRA.

They already have their own internal files, which are presumably up to date, and thus may not see a need for a complete review of your credit report.

However, if an existing creditor wishes to go further in their review by seeing your current performance info with other creditors, or to get a FICO score that takes any other changes into account, they might additionally make an inquiry with the CRA to obtain an updated credit report.

That will thus require that the CRA has received and entered any and all updates provided to them.

An additional issue with an existing creditor making an inquiry is whether or not it may be coded as hard or soft.

If you request a CLI, that becomes a consumer initiated request for credit, which then provides a permissible purpose that permits coding as hard. However, if you did not request the CLI, but rather the creditor is self-evaluating their own initiation and approval of a CLI, it is only an internal account review, which the CRAs code as soft.

Re: CapitalOne CLI - Soft Pull vs. On File Information

Anonymous — Fri, 07 Dec 2018 00:15:52 GMT

@jer2305 wrote:
Thank you both.

I hit the button and received the 2-3 day message. I remember doing that in the past and I received the secure message denial in my inbox within a few minutes. It’s been a few hours and I haven’t received the secure message with more information. Anyone know if that’s a good sign?

Thanks!

Unfortunately, 2-3 day message is a denial.

Re: CapitalOne CLI - Soft Pull vs. On File Information

HeavenOhio — Fri, 07 Dec 2018 14:40:27 GMT

@Anonymous wrote:
As far as I know CapitalOne uses your FICO 8 scores to make credit decisions so any application for a CLI so be predicated on first getting your FICO scores so you can make an informed decision.

Capital One generally cites an older Equifax score when denying an application or a CLI. I'm not sure which one, but someone here could likely provide it.

If you're trying to guess where an older score might fall in comparison to FICO 8, figure that older scores care much more about account ages and utilization. They're likely to care less than FICO 8 about open installment loans.

Re: CapitalOne CLI - Soft Pull vs. On File Information

CivalV — Mon, 10 Dec 2018 15:15:55 GMT

I agree. When I receive my CLI denials they show my EQ scores from September which are extremely low compared to my scores now. Same for Kohls. Kohls shows my EX score from October & not my current.

Re: CapitalOne CLI - Soft Pull vs. On File Information

SomewhereIn505 — Mon, 10 Dec 2018 15:38:34 GMT

OP - Cap One likes swips and payments. If you're not using the card much, it lowers the likely hood of a CLI.

Thinking through a FICO score update is the right thing to do. I've held off of going for a CLI till a FICO (not FAKO from CK) updates with my lender. Makes me feel more confident going for that SP CLI.

Re: CapitalOne CLI - Soft Pull vs. On File Information

tinabohio — Tue, 11 Dec 2018 01:58:56 GMT

I really think they don't enjoy giving CLI. I requested one, and they cited a recent collection. I have one collection that is 3 years old in my credit report. I've paid them well and on time, and used the card every month.
At least it's always been a soft pull when I've tried for the CLI, lol.