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About LinkBacksIs it better to request a new credit card or just try to increase your limits on existing cards to increase your overall available credit. Do you take a bigger hit one way or the other on your credit score? Does anyone know? Thanks!!
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Green Member
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- Apr 2011
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- Georgia
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Credit line increase through new card or existing, Which is Better?
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Centurion Member
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- Jun 2008
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It really depends. I personally have had the best luck apply for a new card from the same issuer, then reallocating the limit over to my main card with them. Though others have success getting a high increase fast, like this: amex credit line increases
Originally Posted by twinkletoes
With the second part you asked about the credit score impact. A new card application will always result in a hard inquiry. On the other hand an increase on an existing card may be possible with only a soft pull, which does not affect your credit. Lately I haven't been able to get soft pull increases on my cards but if you look at the post I liked to, he had two of them that were successful with a soft pull.Disclosure: I am a moderator/paid staff of this site, which does have advertising relationships with some credit cards that are discussed. Regardless, anything I say is my honest opinion.
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Centurion Member
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- Jun 2011
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How do you ask your credit card company for a "soft pull", or an increase on your credit limit without it showing on your credit? And is it good to ask all your companies possibly since I never asked any of then before?
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Gold Member
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- Jun 2011
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- Texas
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If you don't want a "hard inquiry" and to play it safe, call the 1-800 on the back of the card and speak to a live person. Ask for a CLI and ask the CSR if it's a soft or hard. They should be able to tell you.
I will tell you this, base on my experience...if they ask for HHI, it's generally a hard. Also, don't do it through the automated process on the website of your CC, you won't know if it's hard or soft until it's too late.
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Centurion Member
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What does HHI mean? Sorry
but very useful info, thanks again!
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Gold Member
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- Jun 2011
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- Texas
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HHI = Household Income. The higher the HHI, generally the higher the CL...in addition to what else is on your CR. Just be prepare to submit paperwork to prove it, if the information is requested by the lender. I know most CU (Credit Union) will request a 2-yr tax returned when apping for one of their credit card. Most big banks won't do that, but than again, you never know.
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