topic SP vs HP CLI? Question! in Rebuilding Your Credit

SP vs HP CLI? Question!

Anonymous — Sat, 23 Jul 2016 13:13:48 GMT

Hi I'm sorry everyone,
Silly question!
There are several posts here about getting CLI but after only a SP. My question is how do you know when it's a SP vs HP?can I request a SP CLI? Currently I have Amex BCE $1200, Barclay $2000, Chase Freedom $2000, Chase Slate $4500, DSCVR $1000. How can I raise these limits without a HP? Myfico scores are EQ 770, TU 782, EX 754. Any help would be appreciated! Thank you.

Re: SP vs HP CLI? Question!

Anonymous — Sat, 23 Jul 2016 14:22:36 GMT

I recently did the amex 3x cli and it was a sp. Chase auto increased me, so I'm not sure and my cap1 increase was a soft pull as well.

Re: SP vs HP CLI? Question!

Anonymous — Sat, 23 Jul 2016 14:25:10 GMT

American Express and Discover CLI's can be done on line and they are usually SP if not they will tell you before you request one. Chase is always a HP. American Express will allow one CLI every six months no matter how many cards you have so only two each year and Discover is often every ninety one days but some have had success every thirty one or sixty one days.

Re: SP vs HP CLI? Question!

Anonymous — Sat, 23 Jul 2016 14:31:54 GMT

Generally speaking, there are financial institutions that SP or HP, but we really can't count on that. I always expect a hard pull. Sometimes I will ask a creditor if it is a hard or soft pull, but even that doesn't always work.

The most consistent imho is Discover, who will always soft pull unless they ask your permission to do a hard pull. I have also had soft pulls on Capital One and Citi. Sometimes BofA will do a soft pull, but it is usually a hard pull. Any Synchrony cards you have and request a cli is usually a soft pull, but again, not always.

Throughout the boards you can find threads on this topic that might be helpful. Good luck!

Re: SP vs HP CLI? Question!

Anonymous — Sun, 24 Jul 2016 01:21:17 GMT

Thanks so much everyone! I was baffled and felt silly asking! I appreciate all your help!!! 😀

Re: SP vs HP CLI? Question!

Anonymous — Sun, 24 Jul 2016 01:47:37 GMT

Another question.... If I have a freeze on my credit reports and ask for a CLI will this prevent a HP? Or would they be able to do a HP because I already had a "relationship" with them?

Re: SP vs HP CLI? Question!

Anonymous — Mon, 25 Jul 2016 13:13:31 GMT

@Anonymous wrote:
Another question.... If I have a freeze on my credit reports and ask for a CLI will this prevent a HP? Or would they be able to do a HP because I already had a "relationship" with them?

1) For the most part a Freeze is a freeze, many lenders will just deny the request w/o great communication as to a frozen file being the issues, others will inform you to unfreeze, others will use an alternative say they normally pull Xpn they'll try TU etc ...crapshoot

2) Current lenders can ALWAYS preform a AR or SP on clients b/c it falls within their premission to keep track of their curent 'relationship' ...a AR is de facto a SP by nature.

But as mentioned it isn't always clear, which a vendor will use HP vs SP.

Due to discrim claims and other possible claims some vendors just will NOT work on a frozen report, with regards to granting new credit, period!

One reason being IF you deny somebody, you may have to support WHY and a HP 'proves' you evaluated credit vs summarily denying 'certain' groups or ppl or folks from certain zip codes etc

if you approve credit no big deal but if you deny many times vendors will run the credit actually only after denials ....hence approvals can be SP b/c whose going to complain if their approved but b/c denials might complain and denials are due certain RIGHTS, like a free CR etc many creditors feel it's best to exactually run the report.

Discover even sends a letter for cancelled request...meaning that when I request a CLI and they ask can they HP and I click no, don't HP just forget the request they still send a letter just saying they cancelled the pull again some companies are anal about CYA so they go overboard...

i worked at a well-known loan company (ads on TV daily) and if there was a freeze or an alert we could evaluate a loan but that freeze had to be taken OFF before a loan would be approved for funding ZERO exceptions....the thought pattern being ...we 're doing loans over the phone, online etc even if we get ID docs it could argued (from the legal suits) that we (the lender should have known NOT to loan money b/c there in PLAIN day light exist a FREEZE not to extend credit....so not one loan would be approved to fund unless we could get a CR w/o a freeze listed......it pissed clients off but that freeze 'might' give a good lawyer a leg to point to as to why the debt should not be valid nor counted on his client's report.

So 'somebody' with my client's info called and requested X thousands of dollars and DESPITE to freeze you extended credit, sent money is that right? good luck

Re: SP vs HP CLI? Question!

Anonymous — Tue, 26 Jul 2016 01:56:43 GMT

Thanks so much for the detail!!! I always learn so much from this forum!