Credit limit increase and other questions

[suiken]

HI guys when you ask for credit limit increase is it a hard pull or soft pull? in near future I am getting a mortgage so I was wondering.  The card is capital one spark business card that I never used, limit is only 500 so how much can I ask for limit increase? I have other credit cards that got 17k  15k limit.

I did a credit report and for my address there is a foot note saying,  business address. I purchased the house a year ago so maybe previous owners used it for business? can I just leave it or should I fix it how does it affect me? and just call the 3 credit companies tell them it's a residential not business to fix that right? I think you can also dispute online?

In the credit report one of my name alias they got it wrong, just leave it or fix it? they have like 5,6 alias for me but it's basically the same actually. shortened middle name etc it's all the same name. with too many aliases will it affect my score?

Do they do a hard or soft pull when you open checking and/or saving account? I got an offer from chase that I will get 450 bucks if I open both accounts.  also ChexSystems does it affect your scores?

Debit card it doesn't affect credit score when I apply/close one right? might get a target redcard debit card.  (again in a few months gonna get a house mortgage)

last question creditkarm's credit monitoring do they really work? any of you sign up for ID theft protection thing  or it's a waste of money. I get credit score from discover card monthly actually, I kind of just go by that. I think it's pretty accurate right? thanks a lot for the help! got so many questions lol

[Anonymous]

I try for soft pull CLI whenever possible.

[Creditaddict]

capital one you can request online and it's a sp and you cant ask for a specific amount.

If you can't get anything online I would send a message to executive office and ask for a manual review and ask for $20k but tell them you will accept less if your other cards are over $15k, they will answer back in about a week... also sp.

[Creditaddict]

I wouldn't worry about the address being listed as business.

I wouldn't worry about your aliases as long as your main name is correct.

chase checking/savings is just chex system and sp

target debit card is not a credit check either.

creditkarma is good to just monitor, I don't pay attention to score, what they say is bring my score up or down or my offers, but i do watch my accounts and payments and if i get increases!

[Anonymous]

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@suiken wrote:

HI guys when you ask for credit limit increase is it a hard pull or soft pull? in near future I am getting a mortgage so I was wondering.  The card is capital one spark business card that I never used, limit is only 500 so how much can I ask for limit increase? I have other credit cards that got 17k  15k limit.

I did a credit report and for my address there is a foot note saying,  business address. I purchased the house a year ago so maybe previous owners used it for business? can I just leave it or should I fix it how does it affect me? and just call the 3 credit companies tell them it's a residential not business to fix that right? I think you can also dispute online?

In the credit report one of my name alias they got it wrong, just leave it or fix it? they have like 5,6 alias for me but it's basically the same actually. shortened middle name etc it's all the same name. with too many aliases will it affect my score?

Do they do a hard or soft pull when you open checking and/or saving account? I got an offer from chase that I will get 450 bucks if I open both accounts.  also ChexSystems does it affect your scores?

Debit card it doesn't affect credit score when I apply/close one right? might get a target redcard debit card.  (again in a few months gonna get a house mortgage)

last question creditkarm's credit monitoring do they really work? any of you sign up for ID theft protection thing  or it's a waste of money. I get credit score from discover card monthly actually, I kind of just go by that. I think it's pretty accurate right? thanks a lot for the help! got so many questions lol

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Depends on the company. Most are SPs, but some, such as Citi, is a HP. If you provide your cards, people give tell you which way each card is likely to go. 

[Creditaddict]

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@Anonymous wrote:

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@suiken wrote:

HI guys when you ask for credit limit increase is it a hard pull or soft pull? in near future I am getting a mortgage so I was wondering.  The card is capital one spark business card that I never used, limit is only 500 so how much can I ask for limit increase? I have other credit cards that got 17k  15k limit.

I did a credit report and for my address there is a foot note saying,  business address. I purchased the house a year ago so maybe previous owners used it for business? can I just leave it or should I fix it how does it affect me? and just call the 3 credit companies tell them it's a residential not business to fix that right? I think you can also dispute online?

In the credit report one of my name alias they got it wrong, just leave it or fix it? they have like 5,6 alias for me but it's basically the same actually. shortened middle name etc it's all the same name. with too many aliases will it affect my score?

Do they do a hard or soft pull when you open checking and/or saving account? I got an offer from chase that I will get 450 bucks if I open both accounts.  also ChexSystems does it affect your scores?

Debit card it doesn't affect credit score when I apply/close one right? might get a target redcard debit card.  (again in a few months gonna get a house mortgage)

last question creditkarm's credit monitoring do they really work? any of you sign up for ID theft protection thing  or it's a waste of money. I get credit score from discover card monthly actually, I kind of just go by that. I think it's pretty accurate right? thanks a lot for the help! got so many questions lol

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Depends on the company. Most are SPs, but some, such as Citi, is a HP. If you provide your cards, people give tell you which way each card is likely to go. 

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citi will tell you when you go to request a cli online if it will be sp or not.. "By checking for a credit line increase this will not effect your credit report" or some verbage like that... if anything is stated like "Credit may be pulled" usually means hp.

[takeshi74]

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@suiken wrote:

HI guys when you ask for credit limit increase is it a hard pull or soft pull?

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Depends on creditor.  If in doubt, ask the creditor.

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@suiken wrote:

in near future I am getting a mortgage so I was wondering.

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 How soon?  General advice is to not make such changes 6 months to 1 year out.

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@suiken wrote:

The card is capital one spark business card that I never used, limit is only 500 so how much can I ask for limit increase? I have other credit cards that got 17k  15k limit.

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Limits are based on credit and income.  We can't tell you how much you should request or how much you might qualify for.  Creditors and products vary in their criteria so you also can't rely on other credit limits.  Creditors do not simply match credit limits.

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@suiken wrote:

I did a credit report and for my address there is a foot note saying,  business address. I purchased the house a year ago so maybe previous owners used it for business? 

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Is your address the one you used when applying for the business card?

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@suiken wrote:

Do they do a hard or soft pull when you open checking and/or saving account? 

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 Depends on the financial instituion.  Again, call and ask to confirm.

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@suiken wrote:

last question creditkarm's credit monitoring do they really work? any of you sign up for ID theft protection thing  or it's a waste of money. I get credit score from discover card monthly actually, I kind of just go by that. I think it's pretty accurate right? 

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All scores are accurate but only for their own model and data source.  In other words, CK is only accurate when comparing to other VantageScore 3.0 from TU and EQ.  Discover's score is only accurate when comparing to other TU 08.  See also the Understanding FICO Scoring Subforum and its stickies.

[scorewatcher7]

CLIs tend to be soft pull unless stated otherwise. I can't speak for each independent CCC, but usually there's a page on their website where you can roll the dice on a CLI without worry. 

Don't worry so much about random classifications and address issues on your report: creditors commonly report the address wrong, get names backwards, etc. It really only affects you if the tradelines are innaccurate.

Couldn't tell you about CK; I see mixed reviews about them. 

[suiken]

hi guys thanks so much, all the replies are very helpful!  yeah for cap1 when I go to online CLI it said "

Request a Higher Credit Line

Want more credit? Provide the requested information, and we'll see if your account qualifies for an increase. Checking your eligibility will not affect your credit score.

 "

so that's sp.   about writing them message to executive office to ask for more CLI if online CLI is too little.what's this executive office? just send them a secure message online via my account?  also I don't really use this card, but doesn't hurt to ask for CLI right? look better on your credit score/report.

So business for my address and wrong alias I will just leave it there then.

I heard max CL is around 25k for normal credit cards, is that right? so just ask for CLI every 6 months until I reach 25k I guess. and you ask for 50% increase right?

Ok I did the online auto CLI, says will get back to me in 2,3 days.  some other cards they will say your increase is this do you accept if not you can call.  how about for capital one spark? when they get back to me will I still have a chance to write to executive office for max increase?

[Creditaddict]

if you got 2-3 day message from capital one that is declined... call the executive office and ask for a manual review cli, i will message you the number now.

i don't follow an asking for 50% of your current limit rule or anything, that would take far to long...