Does an Inq created from CL increase request hurt your score as bad as INQ that creates a new account? I have 35 open accounts on file and 7 closed. Doing the fico simulator it shows up to 30+ point drop if I apply for and receive a new account. Will CL increase not hurt so bad??? Perhaps just 3-4 points per Inq? EQ 730, EXP 760, TU 770
If it is a "soft" inquiry then NO it won't hurt your score. These are like AR's (account reveiws) Now if you apply for credit or insurance OR you call them to do a CL increase and they require a CRA pull then YES it will hurt your score. It will then be considered a "hard" inquiry. Discover pulled my credit to raise my limit last month and did a hard inquiry so it hurt my score. It was a waste of time for an additional 400 CL increase!
ALWAYS ask for NO credit report to be pulled for a CLI...they do AR'S every month...THEY DON'T NEED A "HARD" "PRE-APPROVED" or don't bother...UNLESS you can take the 7 point HIT "IF" they say they MUST...I SAY NEVER-MIND... "IF" they are going to PULL A HARD...it may be better to apply for a second account and combine later...
