X1 Card Are Now Doing Hard Inquires

[Anonymous]

I accidentally closed out the page a few minutes ago but I got the invitation to apply for the X1 and went through the pre-approval process and was approved. Since I didn't agree I hope that doesn't hurt me. I'm trying to lower to a 5/24 or lower status so I can pre-approve for a Chase credit card. 

[Guyatthebeach]

Caribsa89,

I got a HP too!  I logged into the X1 app and confirmed no changes to my credit line. I don't mind the HP since I got a huge credit line, I just would have liked to known to expect a HP. I did check all the CR's and Experian was the only hit.

I wonder what X1's next surprise is.

Guyatthebeach

[NRB525]

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@Caribsa89 wrote:

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.

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With that long a timeframe, I doubt the new account will make much difference. This HP will fade on a 12 month path, so significant reduction by the time you get to the mortgage.

 When we closed on our purchase / mortgage earlier this year PenFed followed up with a question about the Lowes card I opened right after funding. The reason was for carpet purchases to replace all the carpet, so their main concern is whether the card increases your DTI. 

[Lou-natic]

Technically the language during the application states they could do a HP, it's just that they weren't doing them until now it seems. Guess I got in under the radar. I'll take what I can get.

[Goos]

When a card product is new it sometimes not reported . I have not yet had my Cardless Cavs MasterCard report and we were 4-5 months in . I'm perfectly ok with it never reporting . But it is not uncommon for a new product to for a short while never report . 

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@practical1 wrote:

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....

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[Anonymous]

A HP after acceptance is a process that all lenders (CC, Auto, etc..) who pre-qualify with a SP follow. Very much like the Goldman Sachs Apple Card. I am pretty sure there was a language in the offer that discloses that by accepting, you are agreeing to a HP. 

[Openwater]

Sorry to hear, but thanks for the heads up. I was planning on applying, figured SP... Why not? But will hold off....

[NoMoreE46]

It is a bummer with house hunting.

[RootDet]

should never be shopping for anything but a mortgage while house shopping. 

[Caribsa89]

The new inquiry only cost 3 points.