@Anonymous wrote:
^^^ agreed. Using a HP for a CLI is a bank's way of looking out for other banks. They use the HPs, as stated above, to make it known that you're seeking credit. Other banks see that and can take it into account. Those other banks reciprocate and also use HPs. This way they all kind of cover for each other in making it known that customers are looking for more.
I don't see any "looking out" for competition when it comes to HPs.
It's up to each lender and their interpretation when HP should be performed if it's consumer initiated request.
If they were so caring about each other, there wouldn't be hybrids who do both HP and SP increases without you even knowing which one it will be untill you hit the button.
I just don't see why Chase would care to warn BoA, when most likely, Boa won't warn Chase.
I don't see why US Bank would sometimes want to alert others, and other times let them fend for themselves.
Or why Discover wouldn't want to warn the world, they won't even allow HP.
They all have their policies, and even those polices aren't static. Some have gone from HP only to SP only (or HP/SP depending on profile) while others moved into opposite direction.
