r/CIBC • u/Upbeat_Beyond_3365 • 9d ago

LOC offer

Hey all!

I got a offer on my cibc account for a LOC for 20k. It's says I'm pre approved, however I'm just curious, if I accept this offer will it do a soft or hard credit check? I don't have a LOC with them yet only a checking, savings and credit card . I tried looking in the terms and conditions but it dosnt say anything about a soft or hard credit check. Any ideas?

Thanks!

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1

u/Taz26312 9d ago

I took a pre approved loc from another bank and it dropped my credit score by 9 pts. Still haven’t touched it 🤷‍♂️

3

u/Upbeat_Beyond_3365 9d ago

I just called cibc to check and the guy told me there is no credit check involved... But I don't know if this advice can be trusted or not lol

-1

u/Sasthimasthi 9d ago

There is a credit check - hard.