I saw this post by Doctor of Credit, showing how some people may receive an offer to earn 5X points for 5 days on their Bilt Mastercard after requesting a credit limit increase (CLI).
Here's my data point...
I called Wells Fargo and requested a CLI, saying I'd like an extra $10K.
The rep said a hard pull may or may not be required; it can vary from request to request.
I was told my request would need to be processed by the underwriting team, and that a hard pull would therefore be needed.
Prior to moving forward, I was told I could withdraw the request.
That's exactly what I decided to do 😁
So for me, no hard pull, no CLI, and no offer.
Anyone else give it a go?
I wouldn't consider a BILT Card until I could also pay my mortgage with it. Further, I have yet to have an issuer require a Hard Pull for underwriting a Credit Line Increase.
I recently went through the process of requesting a credit limit increase on March 2 and accepted the risk of a hard pull. Here are the key details:
My credit limit increased from $5,000 to $15,000.
My credit score at the time ranged between 780 and 820.
I did not receive any 5x offer.
My overall credit history in the US is only 3.5 years.
It's Wells Fargo, they probably already pulled your credit, opened 5 accounts in your name without your consent and now have a line of credit in the Republic of the Congo. LMAO. Seriously though, WF usually goes by relationship history along side credit history. I'm surprised they don't ask for tax info like Amex does on their Gold Card. Looking forward to the mortgage feature!!