CL increase?

[Anonymous]

I have a couple of CCs that I would like to get CL increases...haven't had any increases in quite some time.

Does requesting a CL increase from one of your CCs cause an inquiry which then results in a dip in your FICO?

[MidnightVoice]

Depends on the company.

Chase always does a Hard inq on a customer requested CLI.

Junny did not for me, nor Amex.

My CU did

[johnpalley]

does citybank or american express do inquiries for credit limit increases?

[Anonymous]

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johnpalley wrote:
does citybank or american express do inquiries for credit limit increases?

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Amex pulls soft only.

Citi may pull soft or hard.  If you click the button online and get a form asking for your banking info and other information, it will be a hard.

[RobertEG]

Fulton, the answer is that they have the right to do a hard pull if associated with any business transaction that you have intitiated.  And they WONT do a simple soft pull, for that gives them only name, address into, which is meaningless to them in credit investigation.. They want to see your credit history.

The distinction between a "hard" and "soft" pull is not what they get, but how they code it, and that is their discretion, and is essentailly unregulated.

Sure. the FCRA restricts certan inquiries as being coded only as "soft pulls," such as premotional inquires for the offer of "pre-approved" credit BS.  The junk mail you get daily.  These are legally restricted "soft pulls" that cannot affect your credit scoring.

But any time you enter into a legitimate business transaction upon your initiative, the FCRA then gives the business the right to do a full credit pull of your CR/  Section 604, FCRA. 

When authorizing any credit pull, always get prior agreement from the creditor that any credit pull they may make will be coded by them with an inq code that does not affect FICO scoring as a hard pull.

It is totally at their discretion.  Your legal rights to contest after the fact are essentially non-existent., for they have the legal right to do a full hard pull, and code it as such, if you have entered into any business transaction with them.

Message Edited by RobertEG on 07-30-2008 01:35 AM

Message Edited by RobertEG on 07-30-2008 01:42 AM

[Anonymous]

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RobertEG wrote:

Fulton, the answer is that they have the right to do a hard pull if associated with any business transaction that you have intitiated.  And they WONT do a simple soft pull, for that gives them only name, address into, which is meaningless to them in credit investigation.. They want to see your credit history.

The distinction between a "hard" and "soft" pull is not what they get, but how they code it, and that is their discretion, and is essentailly unregulated.

Sure. the FCRA restricts certan inquiries as being coded only as "soft pulls," such as premotional inquires for the offer of "pre-approved" credit BS.  The junk mail you get daily.  These are legally restricted "soft pulls" that cannot affect your credit scoring.

But any time you enter into a legitimate business transaction upon your initiative, the FCRA then gives the business the right to do a full credit pull of your CR/  Section 604, FCRA. 

When authorizing any credit pull, always get prior agreement from the creditor that any credit pull they may make will be coded by them with an inq code that does not affect FICO scoring as a hard pull.

It is totally at their discretion.  Your legal rights to contest after the fact are essentially non-existent., for they have the legal right to do a full hard pull, and code it as such, if you have entered into any business transaction with them.

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Robert, this is all true, and very helpful in another context, but I think all the poster was asking is whether certain creditors will pull a hard inquiry for CLI as a matter of practice, not really whether they have the right to.

All this talk about PP and FCRA really muddies the waters for new posters when the question at hand is something as simple as the CLI practices of some major lenders.

[Anonymous]

I'm in the same boat... I requested a CL increase from Chase (my Pier1 card) but they said they have to do a hard pull, absolutely no way to do it with a soft pull, or even if I mail in a copy of my credit report.  Has anyone had any luck getting around this?  The whole point of getting a CL increase is to raise my FICO, not lower it with more inquiries!!

Jennilee

[Anonymous]

I don't understand the part where you say they only get name and address.  All CCs pull soft every month and get a full report on your accounts and inquiries, etc.

If they are going to give you cli automatically they pull a soft.  CAP ONE just did that.  Actually I check to see who has pull PRMs and then call them and there is no hard

I have never gotten hard inquiry for a cli.....................I have gotten three in past year from WAMU and one from Cap 1.  and one from HSBC. 

I talked with CCCU and if you ask for cli they will pull a hard but I understand after one year they will auto cli with no hard.  

Message Edited by casinoannie97 on 09-09-2008 08:26 AM

[Anonymous]

It really just depends on the company.  I don't think auto-CLIs will ever be a hard pull.  I am also curious about what they see in the soft pulls.  I also thought they could see everything.

[Anonymous]

they do.  Why would they pull to get your name and address?   But maybe it depends on the coding .

AR   PRM, etc.  If they didn't get all info why would your CCs be pulling every month to check on your status?

Message Edited by casinoannie97 on 09-09-2008 08:35 AM