topic Re: How do SPs work for PC and CLIs? in Credit Cards

How do SPs work for PC and CLIs?

MontegoMack — Sun, 27 May 2012 03:05:34 GMT

I want to PC from an old converted secured card (now an $800 CL Gold Card) to BofA 1-2-3.

I've read they do an SP, but how does that work?

What is the process that they go through to approve/deny me?

What does an SP entail?

Do they check one of the credit bureau report *and* scores?

I'm CT and I'm not sure which one they check.

Anyone have any idea?

Re: How do SPs work for PC and CLIs?

MontegoMack — Mon, 28 May 2012 01:44:28 GMT

Anyone?

Re: How do SPs work for PC and CLIs?

Anonymous — Mon, 28 May 2012 01:52:41 GMT

Have to do your research. No idea with BofA. The big thing about SP is that it doesn't impact your credit. I am unsure if BofA does SP to do PC or CLI. I have heard both. I think if BofA does SP and changes you or CLI you on their own, it is SP. In other words, as an active creditor, they have the right to pull your credit whenever they want. If they happen to pull your credit and like what they see, they can give you CLI or PC. If you request it, I believe it can be a HP. As for which credit bureau, it is fairly random with BofA.

Re: How do SPs work for PC and CLIs?

MontegoMack — Mon, 28 May 2012 02:02:08 GMT

I was hoping that it was a SP if I'm just requesting a PC, which I'd like to do.

So, in an effort to be clear...

If I request a CLI or PC, they do a HP

If they they initiate a CLI on thier own, it's a SP.

Dagnabbit. Well, at least I know.