I just received a significant (35%+) CLI from my CU. I'd like to work on increasing my other CLI's on the other cards, but should I wait for the first one to start reporting? Or does it not matter when they pull my CR?
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Just received a credit line increase,should I wait before requesting other the cards?
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Whether they pull a hard or soft inquiry is entirely credit union (CU) specific. In some cases, such as with one of my CUs, my recent CLI request didn't create either a soft or hard inquiry (as it was a pre-approval). I would just wait for the new limit to report (which may increase your score). Remember, keep your utilization well under 50% (with the most optimal being about 30% or less). (The best utilization is under 10%, apparently, for high FICO score achievers.) However, 30% utilization should still keep someone in the 720+ range (if they have an otherwise spotless credit history).
I just did a CLI request with my CU yesterday and it was instantaneous (for 10% more) and no hard inquiry! I did this because I just spent some money on household repair items and didn't want my utilization harmed.Chapter 7 (No Asset/Non-Consumer) Filed (Pro Se) 7/08 (converted from Chapter 13 - 2/10)
Status: (Auto) Discharged and Closed! 5/10
Visit My BKForum Blog: justbroke's Blog
Any advice provided is not legal advice, but simply the musings of a fellow bankrupt.
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