topic Re: SDFCU - Secured Card CLI in Rebuilding Your Credit

SDFCU - Secured Card CLI

Red1Blue — Tue, 26 May 2020 17:02:18 GMT

I am going to call SDFCU tomorrow and find out. In them mean time of any have experience with SDFCU Secured Card. I have a Secured Card with them and want to additional amount to deposit and increase the limit on my card. Does any know if SDFCU would a hard pull for the CLI on the Secured Card ?

Update: I called SDFCU and talked to them. They do not do Hard Inq for Secured Card Opening, Secured Card Credit Limit Incrase, Secured Card Graduation. It is all soft inquires and no hard inq during any of the process. It is a relief.

Re: SDFCU - Secured Card CLI

FireMedic1 — Mon, 25 May 2020 23:55:12 GMT

Why would a secured credit card company do a HP if you add more $ to raise the CL? You need to see if your allowed to do so. Some take the first deposit and thats where it will sit.

Re: SDFCU - Secured Card CLI

Red1Blue — Tue, 26 May 2020 00:16:39 GMT

@FireMedic1 wrote:
Why would a secured credit card company do a HP if you add more $ to raise the CL? You need to see if your allowed to do so. Some take the first deposit and thats where it will sit.

I respectfully disagree with you. US Bank will pull a Hard Inq on credit report when customers ask for CLI. Even for the secured card CLI. That is what their policy is. If we need a CLI on a secured card with US Bank it will be hard inq. I tried to talk to them into doing soft. it is a no go. I gave up adding more deposit to their secured cards and wait for them to see if they would make the secured card unsecure.

I'll call SDFCU tomorrow and confirm and make sure there is no hard inq. I dont want to take chances.

Re: SDFCU - Secured Card CLI

sjt — Thu, 28 May 2020 22:14:12 GMT

@FireMedic1 wrote:
Why would a secured credit card company do a HP if you add more $ to raise the CL? You need to see if your allowed to do so. Some take the first deposit and thats where it will sit.

Re: SDFCU - Secured Card CLI

Bippy_33 — Thu, 06 May 2021 18:15:26 GMT

Mine hit the 1 year mark and I'm going to call them to see if it will go unsecured. I never missed a payment and kept my utilization at 1%. Hopefully I won't get the run around !!!

Re: SDFCU - Secured Card CLI

spiritcraft1 — Thu, 06 May 2021 18:26:35 GMT

@FireMedic1 wrote:
Why would a secured credit card company do a HP if you add more $ to raise the CL? You need to see if your allowed to do so. Some take the first deposit and thats where it will sit.

NFCU does or did anyway. This was 2016 but I opened mine for $2k and then increased it to $5k and they pulled TU and EQ. But perhaps that was because I was in the high 300's when I opened it.

Good luck OP!

Re: SDFCU - Secured Card CLI

Papa_Bear — Thu, 06 May 2021 20:02:49 GMT

I actually did this a few months back. The hardest part is waiting for them to actually process it. Realistically just hoping mine graduates in a few months.

Re: SDFCU - Secured Card CLI

Papa_Bear — Thu, 06 May 2021 20:04:36 GMT

@Bippy_33 I hope that yours graduates. Gives me and some of us other SDFCU secure card holders some hope. Plus, not a lot of DPs on their actual graduation process.

Re: SDFCU - Secured Card CLI

Bippy_33 — Thu, 06 May 2021 20:49:26 GMT

@Papa_Bear I'll let you know as soon as I find out !!

Re: SDFCU - Secured Card CLI

jmcmillan — Fri, 07 May 2021 00:09:49 GMT

@FireMedic1 wrote:
Why would a secured credit card company do a HP if you add more $ to raise the CL? You need to see if your allowed to do so. Some take the first deposit and thats where it will sit.

Not sure the reason why, but it's actually quite common for a HP for a secured credit line increase.

Re: SDFCU - Secured Card CLI

8in2years — Fri, 07 May 2021 01:11:27 GMT

Thanks for sharing this, glad to know SDFCU does not do hp for secured cards.