Inquiry Question...

[kenchimato]

Quick question, if I call a credit card company and request a higher credit limit, it generates a hard inquiry on my credit report. However, if I call and request a lower interest rate, will this do the same?

[Fizzle1979]

Quick question, if I call a credit card company and request a higher credit limit, it generates a hard inquiry on my credit report. However, if I call and request a lower interest rate, will this do the same?

I requested a lower intereste rate with chase and they did not an inquiry at all. But they did want to do an inquiry for an credit limit increase.

[kenchimato]

Do you know what the method was that they made their determination by when you requested the lower interest rate?

I ask because if that would be pretty standard across the business then it may answer my question. Perhaps when making the request it is not necessary to pull your credit, but only that company's internal data, (payment history, etc.).

[Fizzle1979]

Do you know what the method was that they made their determination by when you requested the lower interest rate?

I ask because if that would be pretty standard across the business then it may answer my question. Perhaps when making the request it is not necessary to pull your credit, but only that company's internal data, (payment history, etc.).

Well I'm not sure why, they gave me the lower rate, I just requested a credit limit increase first, they wanted to pull credit, I said no. Then I requested an interest rate reduction and they gave it to me.

I personally think all cc companies should make the decision on credit limit increases based on the data and payment history from the customer. TO me, it doesn't matter what I'm doing with another company, I want you evaluate MY history with YOUR company. But apparently they only care how much business you gave another company and not them. Boggles my mind.