Author Topic: Dispute Credit pull?  (Read 48358 times)

Offline Redbull3

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Re: Dispute Credit pull?
« Reply #440 on: November 28, 2016, 04:51:36 PM »
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?

Offline JTZ

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Re: Dispute Credit pull?
« Reply #441 on: November 28, 2016, 04:52:41 PM »
Here is very simple one (two). Does the FCRA make a distinction between hard and soft pulls? Does it say anywhere they can do a hard pull for this and a soft pull for that.
"LESS IS MORE" It is the cumulative effect that kills deals!!! How many times do I have to say this?  >:(

Offline aygart

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Re: Dispute Credit pull?
« Reply #442 on: November 28, 2016, 04:53:09 PM »
Yes, it's illegal for anyone to make a hard pull of a *non-customer's* credit file without the person's express advance consent.
Did we finally get a yes?!?!?!?!?!?!?
So is there a distinction for a non-customer between hard and soft?
Feelings don't care about your facts

Offline jsk173

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Re: Dispute Credit pull?
« Reply #443 on: November 28, 2016, 04:55:15 PM »
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 identifying credit line increase opportunities and a myriad of other projects.
2. As a consumer, you can opt out, which means that even with a permissible purpose, they can't pull your report for any of these reasons. As a result, your 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 recap. I made the point you made in #3 on page 1 or 2, but for reasons that remain unexplained, it became highly controversial.

My addendum to #3 would be that companies very often don't do things that are legal, for the simple reason that they don't like to annoy existing customers unnecessarily. Companies could give out change in only $1 bills, but they don't, because it would annoy people. Likewise, doing a hard pull of an existing customer's credit report for purposes of account review, while legal, could serve to annoy some of the more credit-savvy customers, so banks rarely do it.*


(* But not never. Just a few pages ago in this very thread, an example arose of Citi requiring a hard pull for a credit reallocation.)

Offline jsk173

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Re: Dispute Credit pull?
« Reply #444 on: November 28, 2016, 04:56:23 PM »
Here is very simple one (two). Does the FCRA make a distinction between hard and soft pulls? Does it say anywhere they can do a hard pull for this and a soft pull for that.

Asked and answered on PAGE 1 OF THE THREAD.

Offline aygart

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Re: Dispute Credit pull?
« Reply #445 on: November 28, 2016, 04:58:30 PM »
Asked and answered on PAGE 1 OF THE THREAD.
Are you incapable of giving a simple straight answer?
Feelings don't care about your facts

Offline yakov116

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Re: Dispute Credit pull?
« Reply #446 on: November 28, 2016, 05:01:12 PM »
Are you incapable of giving a simple straight answer?
That has been answered on page 1,2,3,4,5,6,7,8,9 :)
Money talks...mine says goodbye!

Offline JTZ

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Re: Dispute Credit pull?
« Reply #447 on: November 28, 2016, 05:04:24 PM »
Asked and answered on PAGE 1 OF THE THREAD.
Hopefully we can now have a straight forward discussion. Your answer on page 1 wasn't clear to me. It doesn't matter if you are an existing customer or not the FCRA does not make a distinction between a hard and soft pull? Do I have that correct?
"LESS IS MORE" It is the cumulative effect that kills deals!!! How many times do I have to say this?  >:(

Offline jsk173

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Re: Dispute Credit pull?
« Reply #448 on: November 28, 2016, 05:05:20 PM »
Are you incapable of giving a simple straight answer?

No.

Offline yakov116

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Re: Dispute Credit pull?
« Reply #449 on: November 28, 2016, 05:06:32 PM »
Money talks...mine says goodbye!

Offline jsk173

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Re: Dispute Credit pull?
« Reply #450 on: November 28, 2016, 05:07:02 PM »
Hopefully we can now have a straight forward discussion. Your answer on page 1 wasn't clear to me. It doesn't matter if you are an existing customer or not the FCRA does not make a distinction between a hard and soft pull? Do I have that correct?

I'll ask again, for the seventh time: Are you retracting the bald-faced lie you posted above? You know damn well that I never told anyone they needed to know Customs regulations for their Global Entry interview. You're lying through your teeth to change the subject after you got humiliated.

I see no reason to entertain further replies from you if you can't display even a modicum of basic honesty and decency in the face of a clear mistake.

Offline jsk173

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Re: Dispute Credit pull?
« Reply #451 on: November 28, 2016, 05:08:02 PM »
Then you dont belong on DDF

Either this is a dumb attempt at a joke or someone needs to read more better.

Offline Luvtotravel

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Re: Dispute Credit pull?
« Reply #452 on: November 28, 2016, 05:08:54 PM »
Either this is a dumb attempt at a joke or someone needs to read  better.
ftfy
Don't wait for the perfect moment; take the moment and make it perfect.

Offline jsk173

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Re: Dispute Credit pull?
« Reply #453 on: November 28, 2016, 05:10:04 PM »
ftfy

Didn't need to be fixed. "Read more better" was part of the literacy joke.

Offline JTZ

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Re: Dispute Credit pull?
« Reply #454 on: November 28, 2016, 05:10:17 PM »
I see no reason to entertain further replies from you if you can't display even a modicum of basic honesty and decency in the face of a clear mistake.
You mean like when you claimed I "filled up your PM's"? I will make you a deal. You give civil answers as I will and I will go back to look what you said about customs/GE.
"LESS IS MORE" It is the cumulative effect that kills deals!!! How many times do I have to say this?  >:(

Offline jsk173

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Re: Dispute Credit pull?
« Reply #455 on: November 28, 2016, 05:11:13 PM »
You mean like when you claimed I "filled up your PM's"? I will make you a deal. You give civil answers as I will and I will go back to look what you said about customs/GE.

LOL. Yes, *I'm* the one who's been uncivil here.

I'm the one who's run off to at least three other threads to disparage other people in this thread. Right.

The sheer amount of dishonesty you've displayed in this thread has been a sight to see.

Offline JTZ

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Re: Dispute Credit pull?
« Reply #456 on: November 28, 2016, 05:17:11 PM »
LOL. Yes, *I'm* the one who's been uncivil here.

I'm the one who's run off to at least three other threads to disparage other people in this thread. Right.

The sheer amount of dishonesty you've displayed in this thread has been a sight to see.
So I guess that is a no.
"LESS IS MORE" It is the cumulative effect that kills deals!!! How many times do I have to say this?  >:(

Offline aygart

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Re: Dispute Credit pull?
« Reply #457 on: November 28, 2016, 05:17:51 PM »
I'll ask again, for the seventh time: Are you retracting the bald-faced lie you posted above? You know damn well that I never told anyone they needed to know Customs regulations for their Global Entry interview. You're lying through your teeth to change the subject after you got humiliated.

I see no reason to entertain further replies from you if you can't display even a modicum of basic honesty and decency in the face of a clear mistake.
He still hasn't gotten close to how many times you avoided giving a simple yes or no answer.
Feelings don't care about your facts

Offline aygart

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Re: Dispute Credit pull?
« Reply #458 on: November 28, 2016, 05:19:07 PM »
No.
Wow. So why are you avoiding doing so regarding credit pulls?
Feelings don't care about your facts

Offline jsk173

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Re: Dispute Credit pull?
« Reply #459 on: November 28, 2016, 05:24:06 PM »
He still hasn't gotten close to how many times you avoided giving a simple yes or no answer.

Ask a coherent, explicit "yes or no" question and I'll be happy to give you a "yes or no" answer.

Your repeated failures to do so are a reflexion on you, not me.