Ability to pick APR, duration, credit limit ahead of time?

Discuss anything related to interest rates & fees, like balance transfer offers, low rate cards, annual fees, etc.
2 posts
chooseausername
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Ability to pick APR, duration, credit limit ahead of time?

Postby chooseausername » Tue Mar 11, 2014 12:15 pm

The last time I applied for a credit card was like 10 years ago.

#1:
When applying for a credit card by phone or on the web, is there a way to manage know the different variables, (intro APR, duration of intro APR), and how they relate to my credit limit ahead of time given my credit score. I just checked my score, it is 790.

For instance, can I pick a shorter intro APR and get a higher credit limit? Or a lower credit limit but a longer APR? Aside from the "offers" as listed on various websites.

#2:
Is there a way to find out which bank will provide the highest credit limit? Is there a bank in particular that typically does?

So, I mean, can I find out the credit limit ahead of time for, say, Bank of America? Or do I have to apply and then find out?

#3:
When does a hard pull take place? Am I told my credit limit ahead of time? Or is this only after a hard pull, a completed application have been processed?


takeshi
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Postby takeshi » Wed Mar 12, 2014 7:58 am

Nope. Creditors have varying underwriting criteria. You only get the details after they've approved you and slotted you into whatever tiers they have established for the given product. You don't get a choice of terms. They offer what they're willing to offer you based on your credit. Limits aren't just a matter of card/creditor and it's really your credit and income versus the creditor's requirements that determine what you'll get as a limit. Again, terms are given once approved. Hard pull takes place when you apply.



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