X1 Card Are Now Doing Hard Inquires

[Caribsa89]

So I received an alert from Experian IdentyWorks about a hard inquiry on my Experian report a few hours ago.  Once I logged in, I was surprised it was X1.  I texted them because this had to be a mistake.  After going back and forth, I was told it cannot be removed and now it's a requirement to have a hard inquiry after acceptance.  I am bum because this was so unexpected.  I feel cheated!  I would not have applied if I knew this would happen.  I am searching for a home because I am approve for a mortgage.  I have not found anything so far but I don't know how this will affect it.

[Ilinferno]

Oh wow that is such a letdown. There was so much hype for this card and I was honestly looking forward to getting it down the line but after the threads I have seen popping up it is not nearly as appealing a proposition.

[Anonymous]

Sorry this happened to you and especially during the home buying process. But even if it is soft inquiry when the card is reported, it will show up in the credit report.  So either way sometimes during the process, you might have ended up explaining about it to mortgage underwriter depending upon circumstances and your credit profile. I guess this shouldn't have major impact as long as you provide right explanation.

[practical1]

This is really a shame -- I suppose it was too good a thing to last.    If HPs are the norm, then the whole calculation of whether to apply for this product changes.

Just a guess ... but I'm speculating that the issuing bank either: 1) succumbed to pressure from the CRAs to honor their standard arrangements;   2) had some kind of limited exception, to get this product launched and into the market, which might have been either expired  or been restricted to a allow certain number of cards to be issued without HPs; or 3) perhaps they are still doing SPs for some, with HPs if they feel necessary for certain profiles?

Anyone have further thoughts or experiences?  At the very least, full disclosure of what they are doing (with an option to continue or not) should be provided.

[rostrow416]

Regardless of whether it causes a hard pull or not, it will still show up as a new account when applying for a mortgage, so if that was your concern, you needed to stay away from opening any new accounts at all.  

But if you have a few months before coming to terms on a home, the effect should be negligible.

[Wavester64]

@Caribsa89 Wow, sorry this happened to you 

I had a feeling this was going to happen with this card. Seemed to good at first with BIG SLs and no HP.

I was even considering it once I got a few other cards I wanted first ONLY because of the lure of NO HP.

But now, I have no interest anymore.

[practical1]

True, it will eventually show up as a new account on your CRA files -- but likely not for a while.  Unless this bank is unusually efficient, it will likely take anywhere from 1 - 3 months, so you might be OK on that front. 

Be prepared to explain it, should it show up, just in-case....

[practical1]

@Wavester64 

I'm with you!  Must have gotten-in just "under the wire" -- received the invite on Dec. 9, applied the same day and was approved immediately. 

Had I waited....

[Grizzly1]

I recieved a hard pull as well today. I've only been in the garden for 2 months since my last spree so it is what it is for me.

[Caribsa89]

I am doing a new build once the new lots are released in 2022.  I will not close until at least 3 months after so a new creditline was not an issue.  I am just disappointed that it was a hard pull.  I wanted the Delta Amex more and if I knew it was going to be hard pull, I would not have applied until maybe June of 2022.

I have a plan trip to South Africa and Europe (Paris, London, Ansterdam, I forgot the 4th city).  They were trip book through Gate 1 for 2020 travel.  They have been postoned until 2022 and we have not yet booked airline.  So the Delta card was a priority due to necessity.  It was going to be my 1 oops to the mortage.