CLIs and FICO Scores

Anonymous · ‎02-04-2018

I got a secured CC 14 months back, and 2 unsecured (AMEX & Disco) 2 months back. I am slowly recovering from the score drop for one HP and for AAoA and "youngest account" (760ish before the December CC applications, 720ish now). I am now gardening until May-ish, when i am planning on applying for a Mortgage.

My question is: When i request a CLI with AMEX (thought about going the 3x CLI route), would that negatively affect my score? The MyFico Simulations are telling me that a CLI would result in a significant 20ish point drop again. Which i don't want to risk, because i am trying to get above 740 mortgage score again by May. If that would be the case, i would wait with the CLI-Tango until after closing on the mortgage.

Do you have any experiences if CLIs result in score drops?

atarvuzdar · ‎02-04-2018

Simulators are dubious, at best. Soft pull CLIs such as is the case with the AMEX 3x CLI will not hurt your score at all. In fact, if the CLI helps your individual or overall utilization pass a threshold it could increase your score. Good luck!

FICO 8: EQ 846 / TU 836 / EX 832
AMEX Platinum / BofA Cash Rewards Visa Sig $99,900 / Chase CSR $43,400 / Citi Double Cash $39,600 / AMEX EveryDay $30,000 / Discover It $26,000 / Gemini $25,000 / JetBlue $25,000 / Chase Freedom Unlimited $22,500

SouthJamaica · ‎02-04-2018

wrote:
I got a secured CC 14 months back, and 2 unsecured (AMEX & Disco) 2 months back. I am slowly recovering from the score drop for one HP and for AAoA and "youngest account" (760ish before the December CC applications, 720ish now). I am now gardening until May-ish, when i am planning on applying for a Mortgage.

My question is: When i request a CLI with AMEX (thought about going the 3x CLI route), would that negatively affect my score? The MyFico Simulations are telling me that a CLI would result in a significant 20ish point drop again. Which i don't want to risk, because i am trying to get above 740 mortgage score again by May. If that would be the case, i would wait with the CLI-Tango until after closing on the mortgage.

Do you have any experiences if CLIs result in score drops?

No it would not cause any score drop.