Unexpected Credit Limit Increase

[shipo]

Zombie13, last year I was worried about the rebucketing issue as well, turned out to be a non-issue as my scores shot up into the 800+ range. Regarding how long to wait before asking for a graduation for your secured card, I'm not sure there is a good answer, if they're going to hit you with a hard pull I'd be a tad less sanguine about asking. Do you know if they have an automatic review process which, as I understand it, typically does not entail a hard pull?

[Zombie13]

Hey shipo. It was a hard pull. Got it, and the t shirt.

[shipo]

Hey shipo. It was a hard pull. Got it, and the t shirt.

Annoying.

[Zombie13]

Annoying.

true, but, we converted the secured credit card to unsecured and got our cash back.

[shipo]

true, but, we converted the secured credit card to unsecured and got our cash back.

Understood, and I also understand different financial institutions operate under different rules, but yeesh, under the assumption you got hit with a hard pull when you opened the secured card, a second hard pull is not exactly ethical in my book (and yes, I also understand I don't run a bank ).

[justbroke]

NFCU just bumped me up $4K with a soft pull. I love NFCU.

[Zombie13]

Understood, and I also understand different financial institutions operate under different rules, but yeesh, under the assumption you got hit with a hard pull when you opened the secured card, a second hard pull is not exactly ethical in my book (and yes, I also understand I don't run a bank ).

Those are good points. I do not recall if the secured card required a hard pull. At the same time, we asked ourselves, which is of more value/use to us: the $5,000.00, or a higher credit score which will get reduced, then recover. Good news is, we now have the three credit cards total; now to use them appropriately, and let them 'season' over time.

[Zombie13]

NFCU just bumped me up $4K with a soft pull. I love NFCU.

Nice!

[shipo]

Those are good points. I do not recall if the secured card required a hard pull. At the same time, we asked ourselves, which is of more value/use to us: the $5,000.00, or a higher credit score which will get reduced, then recover. Good news is, we now have the three credit cards total; now to use them appropriately, and let them 'season' over time.

Good attitude. I was stupid after my discharge and racked up something like 18 hard pulls over the next nine months; after a year they no longer factor in FICO scoring, and after two years they fall off one's credit reports entirely. A year ago I didn't have any HPs on my reports, but buying a new car (October 2022), agreeing to a new Chase Sapphire Preferred card (December 2022), and then taking the bait for a new Chase Freedom Unlimited (earlier this week), I now have three to deal with. For a number of reasons, my wife and I have put off buying a new home until early next year, by which time I'll only have this week's HP dinging my scores.