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Re: Dispute Credit pull? Now i have to preempt this by saying that i dont know much about the legal side of credit pulls, or legal matters in general. Sure don't know what prompted me to read this entire thread this lovely Sun afternoon.

but to me the attacks on jsk173 seemed unfair. Now i dont know if there's any previous bad blood between some of you (like other threads or topics), or whether there are hidden loyalties or friendships in play here, but i'm even more puzzled by the fact that it is done by established forum members.

now, JSK, i have no clue whether you have any use for my advice (and you probably don't) - but to me, you made valid logical arguments (no idea if right / wrong), that have not received any valid response, and it sounds like you know that, so why play into this whole thing? to me it seemed that you were being taunted, and you are just not going to get acknowledgment from the other side, whether right or wrong.

anyways, my 2 cents

November 27, 2016, 01:44:29 PM
Re: Dispute Credit pull?
Just read these and tell me what you think

1st of all, thank you for the links, as there was truly 0 chance i was going to reread this thread :).

I do think that the statue itself listed in first link doesn't clearly address the issue, at least to an inexperienced layman like me, as it doesnt clarify what would be a valid reason for "account review" or the frequency with which such reviews can occur. Though i'm sure there are sub-statues or precedence that likely address these questions. I'm assuming that late / missed payment would for sure be one of those reasons.  Also, i'm sure there is other info dictating when hard / soft pulls can be used, and in my personal experience only soft pulls are used for account maintenance, but again its not clear from quoted text.

the lawsuit link seems more promising, and i agree that the general sense of the article does seem to be that financial institutions can't just hard pull when they want to, but based on below text, it sounded to me that the situation here wasn't banks pulling credit on existing customers as part of an account review process, but rather hard pulling prospective clients even though they haven't fully finalized the loan application, even after promising to soft pull them. Again, i'm by no means a lawyer, so maybe i'm just mis-interpreting the text.

   ((The settlement class includes anyone on whom SoFi ran a “hard” credit inquiry between Nov. 20, 2013, and Aug. 13, 2014, in connection with a student loan refinancing or a personal loan who never finished the process of funded a loan nor uploading the documentation.    The class action began with a complaint in November 2014 from consumer Shawn Heaton saying that SoFi falsely represented to prospective borrowers that it ran soft credit inquiries that wouldn’t affect a credit score, violating the FCRA and California’s Consumer Credit Reporting Agencies Act and Unfair Competition Law))

Just to be clear, although i'm of the opinion that banks can't just hard pull your credit (based on my personal experience and anecdotal evidence gathered from credit departments) and the fact that they just don't do it is good enough for me. Thus i do believe that a specific legal reason does exist, but don't think it has been presented in this thread yet.

November 27, 2016, 08:28:22 PM
Re: Dispute Credit pull?
Anyone disagree with anything?

1. Banks need permissible purpose to pull (soft). Practically, major FI do this all the time for determining pre-approved population, for identifying spend engagement or credit line increase opportunities and a myriad of other projects.
2. As a consumer, you can freeze, which means that even with a permissible purpose, they can't pull your report for any of these reasons. As a result, you're unlikely to receive much marketing from them, and you definitely won't receive pre-approved offers. If you opt out of marketing (different from freezing your report) you literally will not get anything.
3. Banks could - but don't - do a hard pull on existing customers. Why they don't do this, even though they could, probably can be chalked up to erring on the side of caution especially with mounting pressures from consumer advocacy groups and government bodies in the entire credit arena. Fines have been flying. I can also confirm that FIs were pressured into supplying FICO scores.
4. Since banks don't do hard pulls unless you ASK them to (let alone all the time) it is certainly worth paying attention to your hard pulls - activites such as MBMs, refined these days to mean applying on same day with same bank, are still good ideas to reduce pulls. If you can eliminate a HP with a phone call, it's worth it.
5. Can y'all hug it out now?

Excellent summary and an excellent example of how a true long time contributor should behave. Thank you

November 28, 2016, 06:55:41 PM
Re: DDF poker game I'm also in for Sunday at 9pm.

also in for an in person cash game in NY area.

February 15, 2017, 01:46:34 PM
Re: United Mileage Plus is it still possible to avoid UA award close-in fees by booking out and then adjusting the date? or did they fix this loophole post the last website overhaul?
May 03, 2017, 12:34:08 PM
Re: 5th Freedom Flights Master Thread
Are there any 5th Freedoms from JFK-LAX?


January 04, 2018, 09:15:23 AM
Re: RITZ cat 1-4 voucher for sale (works for almost any ritz) How does one book these for former SPG properties now? it no longer gives the option on the website.
Do we need to call to book?

and more importantly, are these usable on any Marriott hotel up to 60K now? or are they still limited to Ritz properties?

August 28, 2018, 11:11:25 AM
Re: Marriott Certs Sale any new method of using these 7-night certs to book someone else as primary guest? in the past i've just called in and asked to make a reservation for a family member, but running into some issues now.
December 02, 2018, 11:01:42 PM
Re: Marriott Certs Sale
Thanks. Did you HUCA? Or just one rep?

multiple reps, even a plat member supervisor.
maybe wasn't our lucky night? i guess we'll find out if there are more reports...

December 03, 2018, 01:31:42 AM
Re: Marriott Certs Sale
Whats the whole obsession with making a guy primary? just add him as an additional

No hassle or things to explain at checkin.

Especially helpful when booking for family who don't understand why there is someone elses name on the reservation, and you dont feel like explaining the whole buying certificate from someone else process.

December 03, 2018, 10:38:32 AM
Re: And so it begins... Marrott Sued for Resort Fees There arent many things i find as infuriating as Resort Fees.
July 09, 2019, 03:12:28 PM
Re: Discussion of DDMS Posts/Deals
Microsoft can block it from arriving at all.

well that sucks.

June 03, 2020, 12:56:53 PM
Re: National Free Day Coupons Master Thread
valid for minivan?

the ones from EE accounts are valid for any car class appearing online.

October 27, 2020, 03:50:37 PM
Re: Waldorf astoria ultra luxury MLE private island

how much is that in HH points? :)

January 20, 2021, 01:36:03 AM