Credit One PreApproval CLI

[BlsdMama]

This may be a dumb question. I have a new offer for a pre approved CLI.

 

Does the additional open credit look good or is it a horrible idea a few weeks from pouring in the real request for a mortgage? We've done the pre approval process and have just now possibly found a house.

[cv91915]

Not a dumb question at all, but opening new credit accounts would be a bad idea at this stage. Wait until you close on a house.

Edited February 28, 2014 by cv91915

[almostanonymous]

So you already have an account with C One and they have pre-approved you for a CLI?

 

I'm guessing if this is the language they have used, then it will result in a pull.

 

If you're apping for a mortgage, the small increase in credit that C One will offer will make no difference. No need to do this until after you have secured your mortgage.

[mendelssohn]

CLIs from Credit One, when preapproved, do not result in a hard pull, but why not wait until after you close on the house? You could probably close the Credit One account and open some better cards.

[moosetracks]

CLIs from Credit One, when preapproved, do not result in a hard pull, but why not wait until after you close on the house? You could probably close the Credit One account and open some better cards.

 

+1, good luck on your home

[BlsdMama]

Awesome advice. Thank you!

[tdj]

In addition to the reasons above not to do it, they will charge you a fee for accepting a CLI. Close the POS after you close on the house!