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What is the obsession with HP'ing for a CLI???

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Super Contributor

Re: What is the obsession with HP'ing for a CLI???


@Revelate wrote:

Arguably from an algorithm design perspective, it's the lenders that are doing SP approvals for credit extentions that are doing it wrong.



Agreed 100%. 

Message 21 of 35
Super Contributor

Re: What is the obsession with HP'ing for a CLI???


@BrutalBodyShots wrote:

@Saeren wrote:

My point was that HP CLIs tend to be higher than SP ones. 

I don't believe that to always be the case.  My two highest SP CLIs were $27k and $20k increases on my Lowe's and Amex cards.  I've also received 2 CLIs on my Citi card; One was a HP and one a SP.  The HP CLI resulted in a $5k gain, where the SP CLI resulted in a $7k gain.


As always it’s a YMMV. 

 

Amex is an outlier anyway. The amount of data they have on their customers gives them “big brother” status. 

 

It’s really difficult to quantify the results of SP vs HP since most lenders don’t offer both options but some lenders will have an SP cap and require an HP to offer more (US Bank is like this with their $1500 SP and I have seen multiple reports where people who wanted more than the SP gave them from Citi were told they could be evaluated for more with a HP and review). 

 

Regardless, an HP for a CLI should be standard procedure. 

 

My personal biggest CLIs was always a HP both before and after my BK but I don’t have the super thick files that others around here do. 



01/2019:
10/2019:

Hover over my cards to see my limits!
Goal cards: Cash+, Freedom.
Message 22 of 35
Senior Contributor

Re: What is the obsession with HP'ing for a CLI???


@Saeren wrote:

@MakingProgress wrote:

@Saeren wrote:

HP CLIs are almost invariably higher than SP CLIs. I personally don’t mind or I wouldn’t be with NFCU. 

 

As others have said, it leaves a mark that lets other creditors know that you’re actively seeking more credit which is a risk factor they should know about. It wouldn’t surprise me to see all CLIs turn into HPs industry wide and I would support the move. If Discover did HP CLIs, we probably wouldn’t see people with high incomes getting denied or tossed $200-$500. 


Income is not shown anywhere on a CR. HP or Sp doesn't make a difference.  Income is self reported unless a creditor requests verification.  


They can get a picture of your liquid cash based on your charges and payments

 

That wasnt my point though. My point was that HP CLIs tend to be higher than SP ones. 


They get the same info in either type of pull. An HP doesn't give the creditor a better picture of anything it simply puts a mark on your file that you are seeking credit. 

 

It is possible that some, like Citi may be willing to give a higher cli if you are willing to take an HP, but the type of pull doesn't give then any additional information. 


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Message 23 of 35
Super Contributor

Re: What is the obsession with HP'ing for a CLI???


@MakingProgress wrote:

@Saeren wrote:

@MakingProgress wrote:

@Saeren wrote:

HP CLIs are almost invariably higher than SP CLIs. I personally don’t mind or I wouldn’t be with NFCU. 

 

As others have said, it leaves a mark that lets other creditors know that you’re actively seeking more credit which is a risk factor they should know about. It wouldn’t surprise me to see all CLIs turn into HPs industry wide and I would support the move. If Discover did HP CLIs, we probably wouldn’t see people with high incomes getting denied or tossed $200-$500. 


Income is not shown anywhere on a CR. HP or Sp doesn't make a difference.  Income is self reported unless a creditor requests verification.  


They can get a picture of your liquid cash based on your charges and payments

 

That wasnt my point though. My point was that HP CLIs tend to be higher than SP ones. 


They get the same info in either type of pull. An HP doesn't give the creditor a better picture of anything it simply puts a mark on your file that you are seeking credit. 

 

It is possible that some, like Citi may be willing to give a higher cli if you are willing to take an HP, but the type of pull doesn't give then any additional information. 


They cannot see SPs from other financial institutions which is exactly why standard procedure is to do a HP when a consumer requests credit, that’s my point. 



01/2019:
10/2019:

Hover over my cards to see my limits!
Goal cards: Cash+, Freedom.
Message 24 of 35
Highlighted
Senior Contributor

Re: What is the obsession with HP'ing for a CLI???


@Saeren wrote:

@MakingProgress wrote:

@Saeren wrote:

@MakingProgress wrote:

@Saeren wrote:

HP CLIs are almost invariably higher than SP CLIs. I personally don’t mind or I wouldn’t be with NFCU. 

 

As others have said, it leaves a mark that lets other creditors know that you’re actively seeking more credit which is a risk factor they should know about. It wouldn’t surprise me to see all CLIs turn into HPs industry wide and I would support the move. If Discover did HP CLIs, we probably wouldn’t see people with high incomes getting denied or tossed $200-$500. 


Income is not shown anywhere on a CR. HP or Sp doesn't make a difference.  Income is self reported unless a creditor requests verification.  


They can get a picture of your liquid cash based on your charges and payments

 

That wasnt my point though. My point was that HP CLIs tend to be higher than SP ones. 


They get the same info in either type of pull. An HP doesn't give the creditor a better picture of anything it simply puts a mark on your file that you are seeking credit. 

 

It is possible that some, like Citi may be willing to give a higher cli if you are willing to take an HP, but the type of pull doesn't give then any additional information. 


They cannot see SPs from other financial institutions which is exactly why standard procedure is to do a HP when a consumer requests credit, that’s my point. 


I don't belive a creditor ever sees SPs.  My understanding is the only one who sees SPs are a consumer when you pull your report from annualcreditreport.com.  (someone with more knowledge please correct me if I am mistaken on that) Marks for an SP wouldn't really give insight to a creditor as lots of SPs show up that have nothing to do with requesting a CLI or new credit.   Most SPs are the result of a creditor or prosective creditor pulling information for account review or marketing purposes. 

 


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Message 25 of 35
Super Contributor

Re: What is the obsession with HP'ing for a CLI???


@MakingProgress wrote:

@Saeren wrote:

@MakingProgress wrote:

@Saeren wrote:

@MakingProgress wrote:

@Saeren wrote:

HP CLIs are almost invariably higher than SP CLIs. I personally don’t mind or I wouldn’t be with NFCU. 

 

As others have said, it leaves a mark that lets other creditors know that you’re actively seeking more credit which is a risk factor they should know about. It wouldn’t surprise me to see all CLIs turn into HPs industry wide and I would support the move. If Discover did HP CLIs, we probably wouldn’t see people with high incomes getting denied or tossed $200-$500. 


Income is not shown anywhere on a CR. HP or Sp doesn't make a difference.  Income is self reported unless a creditor requests verification.  


They can get a picture of your liquid cash based on your charges and payments

 

That wasnt my point though. My point was that HP CLIs tend to be higher than SP ones. 


They get the same info in either type of pull. An HP doesn't give the creditor a better picture of anything it simply puts a mark on your file that you are seeking credit. 

 

It is possible that some, like Citi may be willing to give a higher cli if you are willing to take an HP, but the type of pull doesn't give then any additional information. 


They cannot see SPs from other financial institutions which is exactly why standard procedure is to do a HP when a consumer requests credit, that’s my point. 


I don't belive a creditor ever sees SPs.  My understanding is the only one who sees SPs are a consumer when you pull your report from annualcreditreport.com.  (someone with more knowledge please correct me if I am mistaken on that) Marks for an SP wouldn't really give insight to a creditor as lots of SPs show up that have nothing to do with requesting a CLI or new credit.   Most SPs are the result of a creditor or prosective creditor pulling information for account review or marketing purposes. 

 


That was exactly the point I was making. A HP shows without a doubt that any CLI that appeared on a consumer’s report was asked for and lets other lenders see that the customer is seeking credit actively. A SP doesn’t show up so lenders have no way of knowing if the CLI was requested or automatic by the lender. 



01/2019:
10/2019:

Hover over my cards to see my limits!
Goal cards: Cash+, Freedom.
Message 26 of 35
Established Contributor

Re: What is the obsession with HP'ing for a CLI???

A few days ago I contacted FNBO for a CLI on my card with them.  They told me they could give me a $3000 increase with a SP and that it was possible they could give me more with a HP.  I took the SP offer as that put me over $10,000 with them, which is what I wanted.  Not sure why they would potentially give more with an HP,  but there you go.  Just my very recent experience.

Message 27 of 35
Super Contributor

Re: What is the obsession with HP'ing for a CLI???


@Saeren wrote:

@MakingProgress wrote:

@Saeren wrote:

@MakingProgress wrote:

@Saeren wrote:

@MakingProgress wrote:

@Saeren wrote:

HP CLIs are almost invariably higher than SP CLIs. I personally don’t mind or I wouldn’t be with NFCU. 

 

As others have said, it leaves a mark that lets other creditors know that you’re actively seeking more credit which is a risk factor they should know about. It wouldn’t surprise me to see all CLIs turn into HPs industry wide and I would support the move. If Discover did HP CLIs, we probably wouldn’t see people with high incomes getting denied or tossed $200-$500. 


Income is not shown anywhere on a CR. HP or Sp doesn't make a difference.  Income is self reported unless a creditor requests verification.  


They can get a picture of your liquid cash based on your charges and payments

 

That wasnt my point though. My point was that HP CLIs tend to be higher than SP ones. 


They get the same info in either type of pull. An HP doesn't give the creditor a better picture of anything it simply puts a mark on your file that you are seeking credit. 

 

It is possible that some, like Citi may be willing to give a higher cli if you are willing to take an HP, but the type of pull doesn't give then any additional information. 


They cannot see SPs from other financial institutions which is exactly why standard procedure is to do a HP when a consumer requests credit, that’s my point. 


I don't belive a creditor ever sees SPs.  My understanding is the only one who sees SPs are a consumer when you pull your report from annualcreditreport.com.  (someone with more knowledge please correct me if I am mistaken on that) Marks for an SP wouldn't really give insight to a creditor as lots of SPs show up that have nothing to do with requesting a CLI or new credit.   Most SPs are the result of a creditor or prosective creditor pulling information for account review or marketing purposes. 

 


That was exactly the point I was making. A HP shows without a doubt that any CLI that appeared on a consumer’s report was asked for and lets other lenders see that the customer is seeking credit actively. A SP doesn’t show up so lenders have no way of knowing if the CLI was requested or automatic by the lender. 


They wouldn't be able to tell with the HP. There's no notation that it was for a CLI. For all the banks know, you applied for a new card and was denied as there isn't a new tradeline on your file. The only reason for it is to indicate that you were seeking additional credit. Period.







Message 28 of 35
Super Contributor

Re: What is the obsession with HP'ing for a CLI???


@rbentley wrote:

A few days ago I contacted FNBO for a CLI on my card with them.  They told me they could give me a $3000 increase with a SP and that it was possible they could give me more with a HP.  I took the SP offer as that put me over $10,000 with them, which is what I wanted.  Not sure why they would potentially give more with an HP, but there you go.  Just my very recent experience.


Banks have internal limits they set for you. The SP CLI would take you to the max. A HP would allow them to reevaluate what that limit should be.







Message 29 of 35
Senior Contributor

Re: What is the obsession with HP'ing for a CLI???


@Saeren wrote:

@MakingProgress wrote:

@Saeren wrote:

@MakingProgress wrote:

@Saeren wrote:

@MakingProgress wrote:

@Saeren wrote:

HP CLIs are almost invariably higher than SP CLIs. I personally don’t mind or I wouldn’t be with NFCU. 

 

As others have said, it leaves a mark that lets other creditors know that you’re actively seeking more credit which is a risk factor they should know about. It wouldn’t surprise me to see all CLIs turn into HPs industry wide and I would support the move. If Discover did HP CLIs, we probably wouldn’t see people with high incomes getting denied or tossed $200-$500. 


Income is not shown anywhere on a CR. HP or Sp doesn't make a difference.  Income is self reported unless a creditor requests verification.  


They can get a picture of your liquid cash based on your charges and payments

 

That wasnt my point though. My point was that HP CLIs tend to be higher than SP ones. 


They get the same info in either type of pull. An HP doesn't give the creditor a better picture of anything it simply puts a mark on your file that you are seeking credit. 

 

It is possible that some, like Citi may be willing to give a higher cli if you are willing to take an HP, but the type of pull doesn't give then any additional information. 


They cannot see SPs from other financial institutions which is exactly why standard procedure is to do a HP when a consumer requests credit, that’s my point. 


I don't belive a creditor ever sees SPs.  My understanding is the only one who sees SPs are a consumer when you pull your report from annualcreditreport.com.  (someone with more knowledge please correct me if I am mistaken on that) Marks for an SP wouldn't really give insight to a creditor as lots of SPs show up that have nothing to do with requesting a CLI or new credit.   Most SPs are the result of a creditor or prosective creditor pulling information for account review or marketing purposes. 

 


That was exactly the point I was making. A HP shows without a doubt that any CLI that appeared on a consumer’s report was asked for and lets other lenders see that the customer is seeking credit actively. A SP doesn’t show up so lenders have no way of knowing if the CLI was requested or automatic by the lender. 


I completely misunderstood your point before Now I think I have it.


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Message 30 of 35
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