24 Looking to build Credit... What are some good tips on your first Credit Card

[bhzmafia14]

I think you worded your question wrong or are confusing a soft pull with a hard pull. Discover will do soft pulls for all CLI requests unless they tell you they need a hard pull (in that case they will contact you to get your approval before they do a hard pull). A soft pull won't show up on your credit report for others to see or impact your score.

There are times when I request a CLI and they just tell me to input how much I want to increase and my income. Once I submit, they approve it immediately.

Then, there are times when this pops up:

View media item 2018286
I'm assuming this is the "soft pull". I didn't think they did a soft pull when the limit was immediately increased upon submitting.

 

[jon4rd]

There are times when I request a CLI and they just tell me to input how much I want to increase and my income. Once I submit, they approve it immediately.

Then, there are times when this pops up:

View media item 2018286
I'm assuming this is the "soft pull". I didn't think they did a soft pull when the limit was immediately increased upon submitting.

I see that screen every time I go to request a CLI through the discover website. I have never input how much I want to increase it by. Yes it is a soft pull unless they contact you and say they need to do a hard pull. They will ask your permission if they need one (see the last sentence on that screen)

 

[capital sb]

Both examples are soft pull's , unless after you hit submit they ask you if they can pull your report to check your credit background.

That is a hard pull, when they actually inquiry your credit report to determine if they want to give you and increase or not.

A soft pull is when you submit the CLI and they automatically give you the increase .

Same, I always get that screen. If it is a soft pull a slider will pop up with the max credit they will give you.

I've never been able to request an amount.

 

[bhzmafia14]

Thanks for clearing that up guys.

I get the slider some time, but there are times when they allow me to input the amount I want to increase it to. They don't always give me that amount, but they try to come close to it. How long have you guys had Discover? I've been with them since 2011 (my first CC).

edit:

actually since January 2010. had to check my profile

 

[jon4rd]

Thanks for clearing that up guys.

I get the slider some time, but there are times when they allow me to input the amount I want to increase it to. They don't always give me that amount, but they try to come close to it. How long have you guys had Discover? I've been with them since 2011 (my first CC).

edit:

actually since January 2010. had to check my profile

Oh ok. They probably changed it I've only been with them like 8 months and I've never been able to input an amount. The slider popped up on my first request other 2 times it wasn't instant and I got the 2 day review message. Still didn't require a hard pull though.

 

[capital sb]

Oh ok. They probably changed it I've only been with them like 8 months and I've never been able to input an amount. The slider popped up on my first request other 2 times it wasn't instant and I got the 2 day review message. Still didn't require a hard pull though.

Yeah that must be why we only know the slider. I've been with Discover for almost 2 years.

 

[jon4rd]

Speaking of CLIs, anybody know how Citi does their CLIs? Are they soft or hard pull and how long do I have to wait?

 

[based mod]

Request it, if they instant approve, then no pull

 

[freshpairs]

Does/has anyone requested CLIs with more than one CC at the same time?

 

[capital sb]

Does/has anyone requested CLIs with more than one CC at the same time?

I only do CLI if they are soft pulls.
If you're saying literally the same time like 2 windows open, no. Same time as in back to back, yes.

 

[freshpairs]

I only do CLI if they are soft pulls.
If you're saying literally the same time like 2 windows open, no. Same time as in back to back, yes.

Yeah as in like requesting in a discover and then an amex right after on the same day lol

 

[pitman13]

Yeah as in like requesting in a discover and then an amex right after on the same day lol

I personally wouldn't request a CLI from two separate cards at the same time.

 

[jordman23]

Hey Guys I want to give a FYI.


I've had Bank Of America for a long time and will stick with them for sure. They always are on top of things and never had a problem. I've disputed like 4 charges on my credit card within a 2 year span, and all of them were credited on my behalf. The money was restored the next day, pending investigation, but always ruled in my favor.

I had excellent credit up until last month when I decided to check Chase out.


So I decide to get the Chase Sapphire Rewards Credit Card for the 50K miles. Spent 4k, fine I got the points. But I had bought a pair of new tires for my car. One of them was defective and blew out after a month of use. So I filed a dispute with chase against the merchant. I provided the receipt of proof of purchase and other documents. I had to call and talk to a rep constantly and be on top of things. I faxed over the same paper 3 times, because they claimed they never received it. So they end up closing the investigation, and they ruled in the merchant's favor. So I did not get my money back. Ok fine no problem I thought, can't win them all. But then I got super pissed when I received a letter in the mail from Chase saying that my transaction dispute that I lost was reported to the 3 big Credit Agencies. So I immediately checked my credit score, and yea I had dropped from excellent (775) to good/fair ( 690). All of this because of chase, I have no other negative impacting credits on my account. I've always paid on time in full, and never have missed a payment. I am beyond angry, and have demanded to talk to a manager and they have not reached out to me yet.

I did not see anywhere on the Terms and Condition of the credit card that the customer would be reported to the Credit Agencies, had I known I would have NEVER filed a dispute. What pisses me off is that they did not even give me a heads up notice, it was already too late and they had gone ahead and reported me. So I am in the process of seeing what I can do.

Bottom line, screw Chase, never will bank with them again. I should've stuck to Bank of America.

 

[freshpairs]

Hey Guys I want to give a FYI.


I've had Bank Of America for a long time and will stick with them for sure. They always are on top of things and never had a problem. I've disputed like 4 charges on my credit card within a 2 year span, and all of them were credited on my behalf. The money was restored the next day, pending investigation, but always ruled in my favor.

I had excellent credit up until last month when I decided to check Chase out.


So I decide to get the Chase Sapphire Rewards Credit Card for the 50K miles. Spent 4k, fine I got the points. But I had bought a pair of new tires for my car. One of them was defective and blew out after a month of use. So I filed a dispute with chase against the merchant. I provided the receipt of proof of purchase and other documents. I had to call and talk to a rep constantly and be on top of things. I faxed over the same paper 3 times, because they claimed they never received it. So they end up closing the investigation, and they ruled in the merchant's favor. So I did not get my money back. Ok fine no problem I thought, can't win them all. But then I got super pissed when I received a letter in the mail from Chase saying that my transaction dispute that I lost was reported to the 3 big Credit Agencies. So I immediately checked my credit score, and yea I had dropped from excellent (775) to good/fair ( 690). All of this because of chase, I have no other negative impacting credits on my account. I've always paid on time in full, and never have missed a payment. I am beyond angry, and have demanded to talk to a manager and they have not reached out to me yet.

I did not see anywhere on the Terms and Condition of the credit card that the customer would be reported to the Credit Agencies, had I known I would have NEVER filed a dispute. What pisses me off is that they did not even give me a heads up notice, it was already too late and they had gone ahead and reported me. So I am in the process of seeing what I can do.

Bottom line, screw Chase, never will bank with them again. I should've stuck to Bank of America.

Damn thats crazy Will keep this in mind for the future.

 

[pitman13]

jordman23 Damn man, sorry to hear that.

Did you pay your monthly bill with Chase for the tires or thought the dispute would result in you getting the purchase off the books ?

 

[jordman23]

jordman23 Damn man, sorry to hear that.

Did you pay your monthly bill with Chase for the tires or thought the dispute would result in you getting the purchase off the books ?

No I paid it off that month, I always pay all of bills in full. So I wasn''t thinking about the credit until after it happened.

 

[polosanddunks]

Even before that story i still hate Chase with CCs. I didnt know that could happen.

 

[jordman23]

Even before that story i still hate Chase with CCs. I didnt know that could happen.

^^ Yea I learned my lesson the hard way.

At least on the bright side I got the 50K so I'll be taking a free trip on United airlines, but at the expense of my credit score.

 

[capital sb]

So they reversed the payment then you forgot to pay? Is that what happened?

It doesn't really make sense, what would there be for them to report besides a late payment.

A failed dispute isn't a derogatory mark that can be put on a credit report.

 

[jon4rd]

I personally wouldn't request a CLI from two separate cards at the same time.

Why? If they are both soft pulls neither bank would see the other CLI request. What do you have to lose?

 

[HankHill]

Don't tires come with warranties anyway? Did you reach out to the manufacturer/retailer first to replace it?

 

[capital sb]

Why? If they are both soft pulls neither bank would see the other CLI request. What do you have to lose?

Nothing, people have their own credit rules. Soft pulls cannot hurt your score in any way shape or form 

 

[slicknick951]

Don't tires come with warranties anyway? Did you reach out to the manufacturer/retailer first to replace it?

Edited for you clearing it up

 

[jordman23]

So they reversed the payment then you forgot to pay? Is that what happened?
It doesn't really make sense, what would there be for them to report besides a late payment.

A failed dispute isn't a derogatory mark that can be put on a credit report.

No not at all. I paid my balance in full that month. Let's say the tires were $500, my total monthly bill was $800 that month. So I paid the full $800 in full. 2 Months later, my tire blew out. Then I called chase to file a dispute. So i had already paid the balance, I did not miss any payments. They told me they report anyone who loses a dispute, which was weird to me because I've never heard of that.

Don't tires come with warranties anyway? Did you reach out to the manufacturer/retailer first to replace it?

I did not purchase the extended warranty. The shop gave me a 30 day back guarantee, but the sidewall popped after 2 months. Yea I called them first, and they said they couldn't do anything. that's why I called Chase to dispute the transaction. Clearly the tires were defective after it burst of only 2 months and not even 2,000 miles driven,

 

[slicknick951]

Why? If they are both soft pulls neither bank would see the other CLI request. What do you have to lose?

Nothing, people have their own credit rules. Soft pulls cannot hurt your score in any way shape or form 

Does anyone know if the below companies use soft pulls?

BOA
CITI
Chase