Author Topic: Does requesting a credit limit increase involve a hard pull?  (Read 869 times)

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BrokeBob

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Does requesting a credit limit increase involve a hard pull?
« on: January 01, 2017 08:54:18 PM »
Here is my situation.

I am cleaning up my credit. 

My highest limit card has a usage of a little over 30%, and 30% is when they ding you more for usuage.  I have another card where I have a lower limit, but pay it off every month, and this second card has already increased my limit because I was charging too much and they would rather give me a higher limit than deny my charges.  Even so, I tend to wind up 40-60% usage on this second card. 

I was going to ask the higher card (and possibly the second card as well) to raise my credit limit, so it would be easier to get below 30% usage.

I know they would run my credit to do so. 

Is that reported as a hard pull?  Or does it vary by card?  I think a couple of hard pulls might do a little damage to my credit, and I may be able to get these cards below 30% in the next few months anyway.

Anyone know this, or should I ask the people at the CC companies?

Clydesmom66

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Re: Does requesting a credit limit increase involve a hard pull?
« Reply #1 on: January 01, 2017 09:11:06 PM »
Typically it is a soft pull.  However, if it has been a while since the card was opened or the increase is significant then they might do a hard pull.  It is easier to ask them they can tell you.
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BrokeBob

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Re: Does requesting a credit limit increase involve a hard pull?
« Reply #2 on: January 01, 2017 10:46:56 PM »
Thanks!  I will do that.

Moonshine Maker

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Re: Does requesting a credit limit increase involve a hard pull?
« Reply #3 on: January 02, 2017 05:22:34 AM »
Some of the card companies every 6 months will do a soft pull and auto raise or lower your limits.  Most limits are score, income and use based.  When most of my wife's  huge charge offs dropped off her scores jumped a lot. The following month she got a ton of new card offers in the mail and the cards she had raised her limits and upgraded her without her even asking. 

silverzgirl

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Re: Does requesting a credit limit increase involve a hard pull?
« Reply #4 on: April 06, 2017 07:39:05 PM »
My personal experience is it depends.

I have received auto CLIs which were pleasant surprises. These are never hard pulls as they were part of an AR and not requested by me.

Stores and specific cards are usually Comenity or Synchrony (GE). The credit "love button" on Comenity is "sometimes." THey may pull, they may not. Ditto for Synchrony (both are generous with proper use though.)

The big banks almost always do a HP when you request a CLI, even if denied.
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I am not a lawyer, nor do I play one on TV. I once thought I was a lawyer when I was litigating in a courtroom, but turns out I just had Patron induced bed spins and dreamed it all. Take my posts with a grain of salt...and a shot of Patron. But not so much you think you are a lawyer.

BrokeBob

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Re: Does requesting a credit limit increase involve a hard pull?
« Reply #5 on: April 06, 2017 07:51:45 PM »
I did ask one of my CC companies, and they said it was a hard pull.

silverzgirl

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Re: Does requesting a credit limit increase involve a hard pull?
« Reply #6 on: April 06, 2017 08:13:14 PM »
One of the only requested ones that SPed was Nordstrom. They would SP up to 6K then they would have to HP (but were generous with auto CLIs recently.)

Every bank card I had has been a HP.
“Know your enemy and know yourself and you can fight a hundred battles without disaster.”  - Sun-Tzu

I am not a lawyer, nor do I play one on TV. I once thought I was a lawyer when I was litigating in a courtroom, but turns out I just had Patron induced bed spins and dreamed it all. Take my posts with a grain of salt...and a shot of Patron. But not so much you think you are a lawyer.

flaccito

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Re: Does requesting a credit limit increase involve a hard pull?
« Reply #7 on: April 06, 2017 11:21:47 PM »
My personal experience is it depends.

I have received auto CLIs which were pleasant surprises. These are never hard pulls as they were part of an AR and not requested by me.

Stores and specific cards are usually Comenity or Synchrony (GE). The credit "love button" on Comenity is "sometimes." THey may pull, they may not. Ditto for Synchrony (both are generous with proper use though.)

The big banks almost always do a HP when you request a CLI, even if denied.

That's interesting, back when I still had excellent credit Synchrony bank closed a Walmart card out of the blue - no warning. Only thing it said in my account page was something about "inactivity". About a year later Synchrony bank lowered my credit limit on a different department store card, again it was out of the blue. It's important to note I had excellent credit back then, so I didn't even have "high usage" or anything like that.

I think each bank has it's own rules and patterns, there doesn't seem to be a "common pattern" between banks. What bank A does can vary greatly from what bank B does, and bank C might do the opposite of bank A, and so on and so on.

kevinmanheim

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Re: Does requesting a credit limit increase involve a hard pull?
« Reply #8 on: April 07, 2017 11:33:07 AM »
Freeze your reports before you ask for the CLI.

They won't get the hard pull if the reports are frozen. If that happens, they will let you know that they couldn't access your report. Then, you can decide if un-freezing and getting the hard inquiry is worth the possible CLI.

The Litigator

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Re: Does requesting a credit limit increase involve a hard pull?
« Reply #9 on: April 07, 2017 01:04:33 PM »
Depends on the company/issuer.

Never believe what a CSR tells you. I've had CSR's tell me "Sure it's soft" and then a hard pull appears.

Always assume it will be a hard pull and be happy if it turns out to be a soft pull.

 

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