Author Topic: Getting Approved For A CC With A Soft Pull  (Read 11825 times)

Offline Cappy

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Re: Getting Approved For A CC With A Soft Pull
« Reply #30 on: December 10, 2015, 09:36:17 AM »
MOST cards that you can get with a SP are complete garbage and a waste of time, unless your goal is to get a pile of $250 credit limit store cards.

People are always thinking that excessive inquirys are the reason they are getting denied and they are afraid to app since they have so many.  Usually not the real reason anyway for denial even if they give that as the reason.

As per the OP, he should get himself a prybar and he should be able to get himself High Limits on all his new cards.

Offline Hershelsdeals

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Re: Getting Approved For A CC With A Soft Pull
« Reply #31 on: December 10, 2015, 11:23:07 AM »


People are always thinking that excessive inquirys are the reason they are getting denied and they are afraid to app since they have so many.  Usually not the real reason anyway for denial even if they give that as the reason.

As per the OP, he should get himself a prybar and he should be able to get himself High Limits on all his new cards.

-1
Of course excessive inquirys hurt CC approvals.

Offline David Smith

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Re: Getting Approved For A CC With A Soft Pull
« Reply #32 on: December 10, 2015, 11:28:04 AM »

-1
Of course excessive inquirys hurt CC approvals.
You're speaking from a credit expert's standpoint, or what you've heard? You just contradicted someone who's spent a lot of time researching this based on a myth you've been fed from childhood.
« Last Edit: December 10, 2015, 11:43:40 AM by David Smith »
Who do you think you are fooling? You think you are going to pull a quick one on your Creator? Good luck with that.
JTZ

Offline Mendelssohn

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Re: Getting Approved For A CC With A Soft Pull
« Reply #33 on: December 10, 2015, 11:36:02 AM »

-1
Of course excessive inquirys hurt CC approvals.

I take away your -1 and +10000000

If you truly believe that, you have no idea what you are talking about.

This is from a "credit expert" perspective.

Offline David Smith

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Re: Getting Approved For A CC With A Soft Pull
« Reply #34 on: December 10, 2015, 11:44:39 AM »
I take away your -1 and +10000000

If you truly believe that, you have no idea what you are talking about.

This is from a "credit expert" perspective.
People just don't seem to get the point.
Who do you think you are fooling? You think you are going to pull a quick one on your Creator? Good luck with that.
JTZ

Offline Mendel93

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Re: Getting Approved For A CC With A Soft Pull
« Reply #35 on: December 10, 2015, 11:59:21 AM »
I take away your -1 and +10000000

If you truly believe that, you have no idea what you are talking about.

This is from a "credit expert" perspective.
So I can just inquire everyday as long as I keep low utilization, I'm good to go?! Why do we see credit score impacting on inquiries? Why do CC providers even mention inquiries?

Offline Mendelssohn

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Re: Getting Approved For A CC With A Soft Pull
« Reply #36 on: December 10, 2015, 12:14:44 PM »
Remember that FICO automatically gives reason codes if you don't have a perfect score. Creditors often spit out those same reasons for denials.

Keeping utilization in check and with a solid profile, inquiries are very rarely the real reason.

I had no problem getting approvals with Amex, Chase and Citi this year with 20+ inquiries on EX. For both Citi apps, I had more than 6 inquiries in the previous 6 months.

Offline dealfinder85

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Re: Getting Approved For A CC With A Soft Pull
« Reply #37 on: December 10, 2015, 12:23:54 PM »
Remember that FICO automatically gives reason codes if you don't have a perfect score. Creditors often spit out those same reasons for denials.

Keeping utilization in check and with a solid profile, inquiries are very rarely the real reason.

I had no problem getting approvals with Amex, Chase and Citi this year with 20+ inquiries on EX. For both Citi apps, I had more than 6 inquiries in the previous 6 months.
so why is it bad to play this game pre closing on a house
or is that also a "myth"?

Offline Mendel93

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Re: Getting Approved For A CC With A Soft Pull
« Reply #38 on: December 10, 2015, 01:08:36 PM »
Remember that FICO automatically gives reason codes if you don't have a perfect score. Creditors often spit out those same reasons for denials.

Keeping utilization in check and with a solid profile, inquiries are very rarely the real reason.

I had no problem getting approvals with Amex, Chase and Citi this year with 20+ inquiries on EX. For both Citi apps, I had more than 6 inquiries in the previous 6 months.
Once you have the solid credit history, solid credit line and keep low utilization,  then inquiries won't play much of a factor when getting you approved,  BUT "until" you get there I assume lenders do take inquiries into the picture.  Don't you think so?  Based on the fact that you were approved even when you have 6 inquiries it doesn't prove that someone on the way up it won't effect his application.

Offline David Smith

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Re: Getting Approved For A CC With A Soft Pull
« Reply #39 on: December 10, 2015, 01:42:32 PM »
Once you have the solid credit history, solid credit line and keep low utilization,  then inquiries won't play much of a factor when getting you approved,  BUT "until" you get there I assume lenders do take inquiries into the picture.  Don't you think so?  Based on the fact that you were approved even when you have 6 inquiries it doesn't prove that someone on the way up it won't effect his application.
We have a resident expert here, listen to what he says. You can question him to find out more info and clarify things, but arguing with him is absurd.
Who do you think you are fooling? You think you are going to pull a quick one on your Creator? Good luck with that.
JTZ

Offline Mendelssohn

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Re: Getting Approved For A CC With A Soft Pull
« Reply #40 on: December 10, 2015, 02:39:32 PM »
so why is it bad to play this game pre closing on a house
or is that also a "myth"?

Because they want to know if you've been looking for credit. That's why they ask you what resulted from the inquiries. That also doesn't keep you from getting a mortgage in most cases.

Offline Mendelssohn

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Re: Getting Approved For A CC With A Soft Pull
« Reply #41 on: December 10, 2015, 02:41:00 PM »
Once you have the solid credit history, solid credit line and keep low utilization,  then inquiries won't play much of a factor when getting you approved,  BUT "until" you get there I assume lenders do take inquiries into the picture.  Don't you think so?  Based on the fact that you were approved even when you have 6 inquiries it doesn't prove that someone on the way up it won't effect his application.

No, they still aren't that important.

And I am correct. That's not my opinion.

You can ignore me if you want...if you want to ignore good advice.

Offline Mendel93

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Re: Getting Approved For A CC With A Soft Pull
« Reply #42 on: December 10, 2015, 02:54:30 PM »
No, they still aren't that important.

And I am correct. That's not my opinion.

You can ignore me if you want...if you want to ignore good advice.
So if this is the case than why do we see people freeze their credit reports,  who cares that the lender will see inquiries??

Offline Mendelssohn

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Re: Getting Approved For A CC With A Soft Pull
« Reply #43 on: December 10, 2015, 03:00:42 PM »
So if this is the case than why do we see people freeze their credit reports,  who cares that the lender will see inquiries??

Controlling which CRA gets pulled for a reason such as using your best score.

Plus many of us used to B* inquiries off of EQ and TU as a hobby, so avoiding an EX pull meant all 3 had 0 inquiries.

Again, it was a hobby. The few points gained and lack of inquiries on the report didn't make a difference with approvals.

Start reading CB. This is 101 level stuff that everyone should know.

Offline Mendel93

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Re: Getting Approved For A CC With A Soft Pull
« Reply #44 on: December 13, 2015, 05:38:43 PM »
Apply for membership first and the CC right afterwards.  For most people in this thread, it resulted in 2 soft pulls:  https://creditboards.com/forums/index.php?showtopic=534206

PenFed also gives quarterly soft pull pre approvals that do not result in a HP if accepted.  It's an EQ HP to join though, but you can also use that same HP for any applications for 90 days. 

MOST cards that you can get with a SP are complete garbage and a waste of time, unless your goal is to get a pile of $250 credit limit store cards.

Thanks for this useful information!

1. In order to apply for Nasa FCU I need to be affiliated with the army in some way, I don't have any family members that retired the army, the only relation may be that my grandparents are holocaust survivors (does it help?), how can I join this (or any) union?

2. I tried applying 3-4 years ago for USAA I was blacklisted because I couldn't prove to them that I was in the army. Later came to my attention that I could have said I'm not in the army and I would've gotten their membership anyway, so now because I'm blacklisted by them am I blacklisted by any other "army" lenders?

3. You mentioned PenFed approves more then card with 1 HP within a 90 period. Is this only applicable for Credit Unions or.. In other words, which CC Provider uses the 1 HP for a 90 day period?

P.S. I did start reading C.B. thank you!