CreditKarma 780 score is very good ... If that is the terrible state that your credit has diminished to, then you're in very good shape.xbr50 wrote: ↑Jan 8th, 2019 9:06 pmHey fellow RFD'ers,
So I've had a 15k LOC with TD for about 6 years and I recently am thinking of purchasing a older vehicle to use and figured I should request a limit increase so I decrease the chances of utilizing over 70% of it if I do. I haven't used my LOC in years and after sending a request, I noticed my rate is an outrageous prime + 5.89%... it was only prime + 3.5% when I opened it.
Upon discovering this, I decided to send an online application to Scotia and CIBC for a LOC (20k requested on both).
I ended up being pre-approved at Scotia and was approved the next day for CIBC. The issue is I had no idea the process was that quick/easy and they would do a hard inquiry right away via an online application. So right now I have 3 hard inquires for an unsecured LOC/Limit Increase within 2-3 days.
Did I mess up? Will this effect my credit score badly? I checked my score via Credit Karma and it's at 808 right now, but only shows Scotia's inquiry so far.
Thanks in advance for any input!
- Sr. Member
- Jun 23, 2017
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- Toronto, ON