Will I get an inquiry on my credit report if I ask for a balance increase?

Question

If I ask for a increase on my limit for a store credit card(Best Buy), will that count as an inquiry since I already have an account with them? How long should you wait to ask for an increase? Do you tell them what you want to go up to or do they just bump the limit up a little bit? Thanks

Answer 1

Not every lender pulls a hard inquiry for a credit limit increase - that includes both store accounts and major cards.

I did a little research on BB, most of the credit limit increase were done without a hard inquiry.
(But, with that said, what might work for 99 people may not work for the 100th person)

Generally after you have had the card for 6 months and they hadn't given you an automatic increase, you might either call, go instore, or see if there is a credit limit increase button online.

If you call or go instore, request the increase with no hard inquiry.

They might ask how much you want, so have a figure in mind if you call or go instore - again, after giving them the figure request that they not pull a hard inquiry.
If they do give an increase, they may not give you the full amount you ask for unless they can pull a hard inquiry. (thats if you are asking for thousands instead of a few hundred)

It's usually better to do it instore, that way they may think that you are planning a large purchase and may give you a better increase than they would by phone or by hitting the credit limit increase button.