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I've been a US Bank Cash Plus cardholder for about 15 months. I recieved a special CLI offer e-mail today and was invited to apply before the end of the month. My account is in good standing, and always paid in full. The e-mail said they already did an account review, so this would be pretty easy, right? So I followed the link offer from my e-mail, inputted my current income and rent, and then got the underwritters are working on it message. Ok, well, so much for the instant luv that I thought I was going to get. Transunion sent me an e-mail later saying the US Bank computer tried to do a HP while my report was frozen, and thankfully so it was frozen. I went in thinking this would be a simple SP, and on your way with a modest increase. I definitely felt like this was a bit of bait and switch by US Bank. If they call I will tell them forget about it, as I don't want to waste a HP on a possible modest CLI. So if you get one of those US Bank E-Mails inviting you for a special CLI offer, pass on it unless you want to waste a HP.
At the bottom of the email in the terms or fine print does it suggest that a HP may be performed?
They said "may" but not always definite. I always like to go on the asusmption that a targeted offer to an existing customer would be a SP.
@Anonymous wrote:They said "may" but not always definite. I always like to go on the asusmption that a targeted offer to an existing customer would be a SP.
You should always go with the assumption that it'll be HP, as evidenced by your data points. It all boils down to internal profile criteria, since there are targetted invites that denote that no CR will be obtained and end up being SP, just like there are data points on individuals submitting online CLI request which yield SP results, yet others end up being HP.
So, this isn't a bait-n-switch.
Also, they will not be calling you. At some point you will receive a letter giving you 30 days to unfreeze your reports or the request will be disregared
Since you don't really want/need that increase, no big deal.
Never assume it will be a soft pull for final approval. Also, if you freeze your credit bureaus no one will give you a credit line increase, or open new accounts for you. Maybe AmEx if you already have one of their cards, but most banks won't.
@summerterrace wrote:Never assume it will be a soft pull for final approval. Also, if you freeze your credit bureaus no one will give you a credit line increase, or open new accounts for you. Maybe AmEx if you already have one of their cards, but most banks won't.
That's absolutely not true for a big chunk of lenders when it comes to CLIs.
I've gotten them from Discover, Citi, US Bank, Amex (already mentioned) and quite a few others.
There are also lenders other than Amex who will open new accounts based on ARs (done via SP).