Author Topic: Dispute Credit pull?  (Read 46571 times)

Offline jsk173

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Re: Dispute Credit pull?
« Reply #320 on: November 28, 2016, 01:02:13 AM »
First of all I don't know what 304 is because I'm on tapatalk, and it clearly is the wrong post. Second of all, because your answer was under the assumption that the person had 90 days of late payments

You asked "Would they?" and I said, "Who knows? Most loan issuers have flat-rate subscription access to soft pulls, so a hard would probably be a waste of time and/or money."

Offline shulem92

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Re: Dispute Credit pull?
« Reply #321 on: November 28, 2016, 01:03:21 AM »
You asked "Would they?" and I said, "Who knows? Most loan issuers have flat-rate subscription access to soft pulls, so a hard would probably be a waste of time and/or money."
Why would it be a waste of time if they are considering shutting down said persons accounts?

Offline jsk173

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Re: Dispute Credit pull?
« Reply #322 on: November 28, 2016, 01:05:45 AM »
Why would it be a waste of time if they are considering shutting down said persons accounts?

I said coding and/or paying for a hard pull might be a waste of time and/or money if they already had a subscription for soft-pull access, as almost all loan issuers do.

Are you even reading the replies, or just posting new replies as fast as you can?

Offline rileywiles23

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Re: Dispute Credit pull?
« Reply #323 on: November 28, 2016, 01:08:46 AM »



Are you even reading the replies, or just posting new replies as fast as you can?
LOL
Life is as good as you make it...

Offline shulem92

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Re: Dispute Credit pull?
« Reply #324 on: November 28, 2016, 01:12:28 AM »
I said coding and/or paying for a hard pull might be a waste of time and/or money if they already had a subscription for soft-pull access, as almost all loan issuers do.

Are you even reading the replies, or just posting new replies as fast as you can?
I'm driving at a point but you keep on derailing yourself. Let me spell it out for you. This statute which you keep quoting in your defense implies that a FI has a right to pull your credit when reviewing your account. The biggest time that would be true is when they are planning on shutting someone down. So why wouldnt they hard-pull the credit?! To save a couple of bucks? Seriously? They are reviewing your account to shut it down and according to you are legally allowed to hard-pull your credit. Don't you think they would take your credit report into consideration before they shut you down?

Offline jsk173

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Re: Dispute Credit pull?
« Reply #325 on: November 28, 2016, 01:14:04 AM »
This statute which you keep quoting in your defense implies that a FI has a right to pull your credit when reviewing your account.

The statute doesn't "imply" it; it says it explicitly, in words the average fifth-grader would understand.

Don't you think they would take your credit report into consideration before they shut you down?

Of course. You realize a soft pull gives the bank most if not all of the same info., right?
« Last Edit: November 28, 2016, 01:17:23 AM by jsk173 »

Offline shulem92

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Re: Dispute Credit pull?
« Reply #326 on: November 28, 2016, 01:15:57 AM »
Of course. You realize a soft pull gives the bank the same info., right?
Not exactly the same. There's a reason they do a hard pull when applying for new credit.

Offline jsk173

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Re: Dispute Credit pull?
« Reply #327 on: November 28, 2016, 01:18:23 AM »
Not exactly the same. There's a reason they do a hard pull when applying for new credit.

LOL. A soft pull gives enough info. for banks to make credit-related decisions, or else banks wouldn't be sending out credit offers based on soft pulls, would they?

Offline shulem92

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Re: Dispute Credit pull?
« Reply #328 on: November 28, 2016, 01:19:21 AM »
LOL. A soft pull gives enough info. for banks to make credit-related decisions, or else banks wouldn't be sending out credit offers based on soft pulls, would they?
When was the last time you had a preapproved! Offer based on a soft pull?

Offline shulem92

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Re: Dispute Credit pull?
« Reply #329 on: November 28, 2016, 01:20:04 AM »
LOL. A soft pull gives enough info. for banks to make credit-related decisions, or else banks wouldn't be sending out credit offers based on soft pulls, would they?
So now you're totally negating the difference between a soft and hard pull! OK so that's where the confusion lies

Offline jsk173

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Re: Dispute Credit pull?
« Reply #330 on: November 28, 2016, 01:22:00 AM »
When was the last time you had a preapproved! Offer based on a soft pull?

LOL. This is embarrassing.

Offline jsk173

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Re: Dispute Credit pull?
« Reply #331 on: November 28, 2016, 01:22:23 AM »
So now you're totally negating the difference between a soft and hard pull! OK so that's where the confusion lies

Someone here is confused, but it's not me.

Offline shulem92

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Re: Dispute Credit pull?
« Reply #332 on: November 28, 2016, 01:27:16 AM »
If this were true
LOL. A soft pull gives enough info. for banks to make credit-related decisions, or else banks wouldn't be sending out credit offers based on soft pulls, would they?
Then why would the banks waste their precious money on hard pulls when you apply for credit
I said coding and/or paying for a hard pull might be a waste of time and/or money if they already had a subscription for soft-pull access, as almost all loan issuers do.

Are you even reading the replies, or just posting new replies as fast as you can?

Offline jsk173

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Re: Dispute Credit pull?
« Reply #333 on: November 28, 2016, 01:31:36 AM »
If this were trueThen why would the banks waste their precious money on hard pulls when you apply for credit

To signify to other banks that the person has applied for credit, in part to subtly discourage competitors from doing the same at that particular point in time. As you probably know, banks don't like it when people get a lot of new credit at the same time.

Are you still sticking to your claim that people don't get preapproved offers based on soft pulls? That was a real howler.

Offline shulem92

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Re: Dispute Credit pull?
« Reply #334 on: November 28, 2016, 01:34:25 AM »
To signify to other banks that the person has applied for credit, in part to subtly discourage competitors from doing the same at that particular point in time. As you probably know, banks don't like it when people get a lot of new credit at the same time.

Are you still sticking to your claim that people don't get preapproved offers based on soft pulls? That was a real howler.
Aside from retail stores, if a person has no experience with a particular lender, I don't know of any "preapproved" offers. IME

Offline jsk173

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Re: Dispute Credit pull?
« Reply #335 on: November 28, 2016, 01:41:37 AM »
Aside from retail stores, if a person has no experience with a particular lender, I don't know of any "preapproved" offers. IME

Mailboxes across America are filled with soft-pull preapprovals every day.

(And the "aside from retail stores" and "experience with a lender" both disprove your point, anyway. The idea that Amex or Citi will preapprove more credit for an existing customer with a soft pull but would need a hard to decide on an account shutdown is just utterly silly.)

Offline shulem92

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Re: Dispute Credit pull?
« Reply #336 on: November 28, 2016, 01:47:12 AM »


Mailboxes across America are filled with soft-pull preapprovals every day.
Those are pre-something else. You are preapproved to apply. Please show me someone who got preapproved for an offer to a bank that they had never dealt with before.
Quote
(And the "aside from retail stores" and "experience with a lender" both disprove your point, anyway. The idea that Amex or Citi will preapprove more credit for an existing customer with a soft pull but would need a hard to decide on an account shutdown is just utterly silly.)
Why is it silly to say that an existing customer has a credit portfolio with the lender already? The biggest proof is that if you ever get shut down by a bank, they will hold that information against you long after it falls off your credit report. And yes for a FULL REVIEW of an account you would need to do a hard pull

Offline jsk173

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Re: Dispute Credit pull?
« Reply #337 on: November 28, 2016, 01:53:01 AM »
Those are pre-something else. You are preapproved to apply. Please show me someone who got preapproved for an offer to a bank that they had never dealt with before.

No, a lot of them are true preapprovals.

Quote
Why is it silly to say that an existing customer has a credit portfolio with the lender already? The biggest proof is that if you ever get shut down by a bank, they will hold that information against you long after it falls off your credit report. And yes for a FULL REVIEW of an account you would need to do a hard pull

You think a bank needs more info. to shut an account down than to EXTEND MORE UNSECURED CREDIT?

LOL.

Offline shulem92

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Re: Dispute Credit pull?
« Reply #338 on: November 28, 2016, 01:58:24 AM »
No, a lot of them are true preapprovals.

You think a bank needs more info. to shut an account down than to EXTEND MORE UNSECURED CREDIT?

LOL.
Yes. I believe that before a bank would shut someone down, they would want to review the full credit report. As opposed to an existing lender who has a certain relationship with the customer, that may decide to extend more credit. In what way is it unsecured?

Offline jsk173

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Re: Dispute Credit pull?
« Reply #339 on: November 28, 2016, 02:06:43 AM »
Yes. I believe that before a bank would shut someone down, they would want to review the full credit report. As opposed to an existing lender who has a certain relationship with the customer, that may decide to extend more credit.

So you actually *do* believe a bank would want more info. before lowering or eliminating a credit line than it would before extending MORE UNSECURED CREDIT?

Wow.

Quote
In what way is it unsecured?

What do you mean, "In what way is it unsecured"? It seemed obvious we were taking about credit cards here. Banks don't "shut down" car loans before repossessing the vehicle; likewise, they don't "shut down" mortgages without maintaining their interest in the home. Were you referring to some other type of loan in your hypothetical, when you referred to someone defaulting on three loans with one bank?

(And regardless, you claimed the defaults never made it to the person's credit report, so why would the full report factor into the hypothetical shutdown? The bank wouldn't have any additional derogatory info. than it already had internally.)
« Last Edit: November 28, 2016, 02:10:36 AM by jsk173 »