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I just want to add a slight spin to this VERY valuable discussion on soft or hard pull CLIs....
I have no lates or bankruptcies or anything overtly bad in any of my 3 reports, but I had a $20k medical bill last summer that I charged to my credit cards, and I just now got my utilization rate back to about 30% after paying off as much as I could for the last few months. I've generally found Discover to be a little under-appreciated around here and on other similar forums. They are not a prestige card, but I think the evidence indicates they are very easy to work with and often generous.
So, this afternoon I decided to spend some time on the Discover website for account holders, thinking I might request a CLI. My FICO 08 on all 3 bureaus is right at 700. I have a Discover IT card with a $5000 limit, currently with a zero balance, after being maxed out last August and gradually paid off.
...but I came across a balance transfer offer on the Discover website that really intrigued me because moving what remains of my medical debt onto a 0% balance transfer offer with Disocver had many obvious benefits. So I clicked on the balance transfer offer. They let me choose the card I wanted from the list of standard Discover card products and I choose the travel points card.
I listed my Citi AA card and BoA cashback card that together have about $10k balance on them at painfully high APRs. Discover came back right away online with a 18 month 0% APR balance transfer offer on a new travel points card with a limit exactly matching my balance transfer request - $10k. I was so excited that I called in to verify that I was really this fortunate and the representative told me I was also eligible for a 50% CLI on my old Discover card.
So today, with an online balance transfer request and a follow up call to a Discover rep, I got an entirely NEW Discover card with a $10k limit and a $2500 CLI on my old Discover Card.
...all with only a soft pull on Experian (confirmed by both my tri-bureau credit monitoring and the Discover rep).
Great stuff!
Thank pulpo and cam3150! Updated with your info.
@Anonymous wrote:
I got a large CLI's on both of my USAA cards (cash rewards and signature rewards) and they were both soft pulls. I went from $10k to $17k in both.
@Anonymous, were these auto-CLIs or did you request them?
I've never known USAA to do a SP CLI unless it was auto... would love to know if this is changing.
@Anonymous wrote:
I requested them, one right after the other, and they were immediately approved. I did it online. Maybe I just got lucky? 🤷♀️
Stranger thing have happened!
Last year I also requested two CLIs from them, but at different times (also on different cards). On one they did a HP on EQ, and on the other they did a HP on EX (which was somewhat unexpected).
It would be great if they started consistently doing SP user-initiated CLIs!
@pulpo wrote:I just want to add a slight spin to this VERY valuable discussion on soft or hard pull CLIs....
I have no lates or bankruptcies or anything overtly bad in any of my 3 reports, but I had a $20k medical bill last summer that I charged to my credit cards, and I just now got my utilization rate back to about 30% after paying off as much as I could for the last few months. I've generally found Discover to be a little under-appreciated around here and on other similar forums. They are not a prestige card, but I think the evidence indicates they are very easy to work with and often generous.
So, this afternoon I decided to spend some time on the Discover website for account holders, thinking I might request a CLI. My FICO 08 on all 3 bureaus is right at 700. I have a Discover IT card with a $5000 limit, currently with a zero balance, after being maxed out last August and gradually paid off.
...but I came across a balance transfer offer on the Discover website that really intrigued me because moving what remains of my medical debt onto a 0% balance transfer offer with Disocver had many obvious benefits. So I clicked on the balance transfer offer. They let me choose the card I wanted from the list of standard Discover card products and I choose the travel points card.
I listed my Citi AA card and BoA cashback card that together have about $10k balance on them at painfully high APRs. Discover came back right away online with a 18 month 0% APR balance transfer offer on a new travel points card with a limit exactly matching my balance transfer request - $10k. I was so excited that I called in to verify that I was really this fortunate and the representative told me I was also eligible for a 50% CLI on my old Discover card.
So today, with an online balance transfer request and a follow up call to a Discover rep, I got an entirely NEW Discover card with a $10k limit and a $2500 CLI on my old Discover Card.
...all with only a soft pull on Experian (confirmed by both my tri-bureau credit monitoring and the Discover rep).
Great stuff!
Yeah well I had a 780 EQ and one card with 5 years of perfect history and they gave me an insulting $2500 limit lol so I'm obviously still very salty about it.
Congrats on your success though, should really help with your financial situation.
The Paypal Extras MC issued by Synchrony bank always does a soft pull, I did it 3X already every 6 months in the last 2 years ...
Cards issued by Synchrony and Comenity (in my case, Amazon, Walmart and Care Credit from Sync and Overstock from Comenity) are usually SP's. I got the PayPal 2% MC at the end of June and haven't attempted a CLI yet but I understand it's SP as well. Penfed HP's you for CLI requests but the HP is valid for any other credit application for up to 90 days, and they often issue quarterly SP offers for CLI's or even new cards. Apple FCU (regional CU in Northern VA) HP's for CLI requests; it seems to me that most credit unions prefer to do HP's.