ncscgirl2005 wrote:
Nope, no increases on our Chase card nor did we request one. The CL has always been the same on that card.
That's an interesting point though. Based on your question/response, if we have a cc with a company and that company wants to increase our credit limit (not at our request) do they do hard or soft inquires? I thought they only did soft inquiries if we didn't not initiate the process but your question/response casted doubt on that.
My opinion only, and keeping in mind I am a not an attorney:
If they give you a CLI that is not initiated by you, they are not allowed to pull a hard inquiry.
FCRA 604(c)(3)
Notice that this section has nothing to do with PP, but only describes when a CRA may "furnish to any person a record of inquiries," which is to my knowledge the only place the FCRA makes a distinction between hard and soft pulls.
As long as an inquiry meets the criteria of PP, then it is allowed, but if it falls into the categories discussed in 604(c)(3), then it cannot be a hard pull. (Because hard pulls are those inquiries of which a CRA furnishes a record whenever a report is pulled.)
Again, JMO.
