topic Re: soft pull CLI strategy in Credit Cards

soft pull CLI strategy

Expansion — Fri, 21 Apr 2023 03:02:37 GMT

Hey fico friends!

So I'm realizing I haven't been asking for SP CLIs on my cards--

AMEX, Discover, BOA, NFCU, WF.

1. What's the overall strategy when going for SPs on multiple cards?

Is it a good idea/bad idea to ask for SP CLIs on multiple cards on the same day (for example, with Discover, NFCU, and WF)?

2. Do you need to space out the frequency of SP requests *over different cards*?

3. And then within a single card, is every six months a pretty good rule of thumb...?

I know each issuer has its own quirks, just looking for a general guideline to put into my brain to start routinizing this.

I look forward to your thoughts and experience as always!

@tcbofade @K-in-Boston @FinStar @SouthJamaica @bizcredit11

Re: soft pull CLI strategy

Creditwiser — Fri, 21 Apr 2023 03:06:46 GMT

@Expansion wrote:
Hey fico friends!

So I'm realizing I haven't been asking for SP CLIs on my cards--
AMEX, Discover, BOA, NFCU, WF.

1. What's the overall strategy when going for SPs on multiple cards?

Is it a good idea/bad idea to ask for SP CLIs on multiple cards on the same day (for example, with Discover, NFCU, and WF)?

2. Do you need to space out the frequency of SP requests *over different cards*?

3. And then within a single card, is every six months a pretty good rule of thumb...?

I know each issuer has its own quirks, just looking for a general guideline to put into my brain to start routinizing this.

I look forward to your thoughts and experience as always!

Keep in mind that SP's are not viewable to other creditors. For ex....Amex SP's for your CLI and they see what they see in HP territory. Chase then SP's for your CLI and does not see that AMEX requested a SP. Many people go on SP spree's via Luv Buttons across multiple cards and have no issues.

Re: soft pull CLI strategy

fury1995 — Fri, 21 Apr 2023 03:20:44 GMT

@Creditwiser wrote:
@Expansion wrote:
Hey fico friends!

So I'm realizing I haven't been asking for SP CLIs on my cards--
AMEX, Discover, BOA, NFCU, WF.

1. What's the overall strategy when going for SPs on multiple cards?

Is it a good idea/bad idea to ask for SP CLIs on multiple cards on the same day (for example, with Discover, NFCU, and WF)?

2. Do you need to space out the frequency of SP requests *over different cards*?

3. And then within a single card, is every six months a pretty good rule of thumb...?

I know each issuer has its own quirks, just looking for a general guideline to put into my brain to start routinizing this.

I look forward to your thoughts and experience as always!
Keep in mind that SP's are not viewable to other creditors. For ex....Amex SP's for your CLI and they see what they see in HP territory. Chase then SP's for your CLI and does not see that AMEX requested a SP. Many people go on SP spree's via Luv Buttons across multiple cards and have no issues.

This!!

Play every note of that credit line increase tune!!

Re: soft pull CLI strategy

Expansion — Fri, 21 Apr 2023 04:21:19 GMT

Thank you @Creditwiser and @fury1995 !!!!

Re: soft pull CLI strategy

Expansion — Fri, 21 Apr 2023 06:56:22 GMT

OK one more question! I have two Discover credit cards, one probably 10+ years old with a $13.5k CL, the other maybe 1 year old with a $4k credit line. They both have an option to ask for a CLI when I'm logged in online.

Can I ask for CLIs from both in the same day? Good idea/bad idea?

I'm planning to ask for a CLI for the older/bigger one first, since that one also has BTOs.

I look forward to your insight and expertise here

Re: soft pull CLI strategy

805orbust — Fri, 21 Apr 2023 09:55:30 GMT

There are people who hit up Discover every 30 days. They are an anomaly, they're either gonna approve it or not. No rhyme or reason. I can say, however that with Amex you can go for it every 181 days across all cards. (Not each card every 181 days, choose which one you're increasing each time) Citi I have been hitting up every 7 months with success (always a HP). FNBO is every 4 months, SP. Navy has been good for me once a year. Take it with a grain of salt though because I am very conservative with requests. 😉

Re: soft pull CLI strategy

Expansion — Fri, 21 Apr 2023 18:20:40 GMT

Thank you @805orbust , this is very helpful!

Re: soft pull CLI strategy

SouthJamaica — Fri, 21 Apr 2023 21:04:40 GMT

@Expansion wrote:
Hey fico friends!

So I'm realizing I haven't been asking for SP CLIs on my cards--
AMEX, Discover, BOA, NFCU, WF.

1. What's the overall strategy when going for SPs on multiple cards?

Is it a good idea/bad idea to ask for SP CLIs on multiple cards on the same day (for example, with Discover, NFCU, and WF)?

2. Do you need to space out the frequency of SP requests *over different cards*?

3. And then within a single card, is every six months a pretty good rule of thumb...?

I know each issuer has its own quirks, just looking for a general guideline to put into my brain to start routinizing this.

I look forward to your thoughts and experience as always!
@tcbofade @K-in-Boston @FinStar @SouthJamaica @bizcredit11

I don't think it matters how you space them out.

Re: soft pull CLI strategy

SouthJamaica — Fri, 21 Apr 2023 21:08:43 GMT

@Expansion wrote:
OK one more question! I have two Discover credit cards, one probably 10+ years old with a $13.5k CL, the other maybe 1 year old with a $4k credit line. They both have an option to ask for a CLI when I'm logged in online.

Can I ask for CLIs from both in the same day? Good idea/bad idea?

I'm planning to ask for a CLI for the older/bigger one first, since that one also has BTOs.

I look forward to your insight and expertise here

The last time I got a CLI from Discover, I applied to both cards and got CLI's on both.

Re: soft pull CLI strategy

OmarGB9 — Sat, 22 Apr 2023 04:54:15 GMT

@805orbust wrote:
There are people who hit up Discover every 30 days. They are an anomaly, they're either gonna approve it or not. No rhyme or reason. I can say, however that with Amex you can go for it every 181 days across all cards. (Not each card every 181 days, choose which one you're increasing each time) Citi I have been hitting up every 7 months with success (always a HP). FNBO is every 4 months, SP. Navy has been good for me once a year. Take it with a grain of salt though because I am very conservative with requests. 😉

Navy you can ask every 181ish days/6 statements.

Re: soft pull CLI strategy

DONZI — Sat, 22 Apr 2023 05:23:23 GMT

..noteworthy?

While the SP themselves are benign, getting CLI approval carries part of the payload of a new card - credit seeking.

So there is a some risk of missing out on FOTM, unexpected mega SUB, unicorn, etc if a gem pops up with sensitive UW.

Re: soft pull CLI strategy

Kforce — Sat, 22 Apr 2023 18:01:51 GMT

@Expansion wrote:
Hey fico friends!

So I'm realizing I haven't been asking for SP CLIs on my cards--
AMEX, Discover, BOA, NFCU, WF.

1. What's the overall strategy when going for SPs on multiple cards?

Is it a good idea/bad idea to ask for SP CLIs on multiple cards on the same day (for example, with Discover, NFCU, and WF)?

2. Do you need to space out the frequency of SP requests *over different cards*?

3. And then within a single card, is every six months a pretty good rule of thumb...?

I know each issuer has its own quirks, just looking for a general guideline to put into my brain to start routinizing this.

I look forward to your thoughts and experience as always!
@tcbofade @K-in-Boston @FinStar @SouthJamaica @bizcredit11

Most of the time two time clocks are running.

Time between allowed SP request .and. Time between CL increases.

Each varies by issuer.

You can make a spread sheet and track both numbers using values for each issuer with all you cards. Keep records and play every month.

.or.

Use your first thought of just asking every year.

Most have a number for each time clock less than that time frame

Make it a new years resolution or birthday gift every year.

Yes I am the "Tortoise" not the "Hare".

But my way is really simple, not a monthly task, no record keeping, etc.