topic Re: HSBC CLI (soft?) in Credit Cards

HSBC CLI (soft?)

NC84 — Thu, 07 Feb 2019 17:35:04 GMT

Everwhere I read says HSBC is a soft pull but customer service reps tell me they do not know lol.

Re: HSBC CLI (soft?)

Anonymous — Thu, 07 Feb 2019 17:50:42 GMT

At the end of the day they have the full right under the law to pull a hard pull. You are seeking more credit. Its a dick move but some like CITI enjoy clicking the button.

I personally do not have any business with HSBC but I can report they are one of the better ones out there.

Re: HSBC CLI (soft?)

NC84 — Thu, 07 Feb 2019 18:01:25 GMT

My Equafax and Experian are frozen. Does that mean Transunion would get pulled if it was a hard inquiry?

Re: HSBC CLI (soft?)

Anonymous — Thu, 07 Feb 2019 18:07:25 GMT

Financial Institutions like to work with one credit reporting agency typically. Most use EQUIFAX on the FICO Score 8 model. If you have a AMEX card they provide you a free FICO SCORE 8, and this is better than Credit Karma as they use the vantage model.

If they are frozen then I wouldnt worry about nothing anymore. If its a hard pull they would request you to remove the "lock" on you're report. Most lenders do not even use T/U. I have one credit card that has never reported to them.

Re: HSBC CLI (soft?)

NC84 — Thu, 07 Feb 2019 18:10:45 GMT

So you think I should give the cli a shot?

Re: HSBC CLI (soft?)

Anonymous — Thu, 07 Feb 2019 18:11:20 GMT

I asked for a CLI from HSBC once last year and it was a HP (Equifax).

Re: HSBC CLI (soft?)

B335is — Thu, 07 Feb 2019 18:13:05 GMT

Expect a HP and you need to give it 6 months in between requests for a CLI with HSBC.

Re: HSBC CLI (soft?)

Anonymous — Thu, 07 Feb 2019 18:13:59 GMT

Even though I am a Financial Analyst, and have helped hundreds with fixing their credit, and winning the system, I must say this needs to be an indvidual decision.

1. Can you afford the hard pull?

2.Do you need the increase for something beneficial like a new car?

Re: HSBC CLI (soft?)

FinStar — Thu, 07 Feb 2019 18:38:49 GMT

@B335is wrote:
Expect a HP and you need to give it 6 months in between requests for a CLI with HSBC.

This ^^^^ OP, plus the comment from @Anonymous. In rare instances are CLI requests SP (except auto-CLIs). Of noteworthy, if your reports are frozen, you'll need to thaw them or the request will likely be declined.

Re: HSBC CLI (soft?)

Anonymous — Sun, 14 Jul 2019 03:55:56 GMT

It can be hard or soft. I requested a CLI around April 2018 hard pull, took a stupid hit. Requested another one November 2018 this time made sure my equifax was frozen, they denied and told me to call. Said to thaw if they want me to review. Forget that! So the other day on the July 9th 2019. I froze all my reports again, and hit the CLI button. Surprise! Approved for additional 50% of current limit!

Re: HSBC CLI (soft?)

patoot10 — Sun, 14 Jul 2019 05:39:56 GMT

I have an answer for you.

When you request a CLI HSBC will check your "internal customer score" and see if they want to grant CLI which mostly isn't enough and they hard pull Equifax. If EQ is locked they won't check anything else and will send a letter asking you to unfreeze Equifax.

My advice is to freeze EQ then attempt a CLI if it didn't work then it's up to you whether or not you want a HP.

Thanks,

Re: HSBC CLI (soft?)

Anonymous — Mon, 30 Mar 2020 04:15:27 GMT

Rising thread back from the dead. I've asked for 2 more CLIs since while EQ was frozen, they called and asked to unfreeze. Not sure what their criteria are for Soft pulls. Only got lucky once

Re: HSBC CLI (soft?)

DaveInAZ — Mon, 30 Mar 2020 19:45:09 GMT

@NC84 wrote:
My Equafax and Experian are frozen. Does that mean Transunion would get pulled if it was a hard inquiry?

Didn't you notice? HSBC cards are a hidden tradeline on Transunion, HSBC has some issue with TU and doesn't report to them and absolutely will not pull them.

HSBC CLI request has always been a HP for me, an attempted HP to be exact - I keep all 3 CRAs locked and when they can't pull EQ they send me a denial.