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Ally Financial Soft INQ

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missji
Regular Contributor

Re: Ally Financial Soft INQ


@LS2982 wrote:

@missji wrote:
Same here! SP on 2/14. I applied for a job with them early last year but I canceled my interview because I had already accepted another offer. So I thought that maybe MAYBE they mistakenly pulled me because of that although I never gave my consent. Interesting...I wonder what they're up to.

They may have bought bureau profiles of certain scores etc. and are looking to send offers out.


Yep, that makes sense...
Gardening as of June 2020. No activity until January 2023 unless it's an auto CLI.
Starting Scores (6/30/2020): EQ 640 | EX 660 | TU 658
Current Scores (05/22/2021): EQ 678 | EX 714 | TU 689
Goal Score: 800


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Message 11 of 15
missji
Regular Contributor

Re: Ally Financial Soft INQ


@haulingthescoreup wrote:

@LS2982 wrote:

@missji wrote:
Same here! SP on 2/14. I applied for a job with them early last year but I canceled my interview because I had already accepted another offer. So I thought that maybe MAYBE they mistakenly pulled me because of that although I never gave my consent. Interesting...I wonder what they're up to.

They may have bought bureau profiles of certain scores etc. and are looking to send offers out.


+1

 

Sounds like a promo soft pull. These do NOT show all the details of your reports, the way that softs from current lenders do.


Oh wow I didn't know that. Thanks for the info!
Gardening as of June 2020. No activity until January 2023 unless it's an auto CLI.
Starting Scores (6/30/2020): EQ 640 | EX 660 | TU 658
Current Scores (05/22/2021): EQ 678 | EX 714 | TU 689
Goal Score: 800


Take the myFICO Fitness Challenge

Message 12 of 15
Anonymous
Not applicable

Re: Ally Financial Soft INQ

One on mine too. All of my cars have been purchased outright. Last time I even applied for (but did not take) an auto loan was sometime around 2000.
Message 13 of 15
Anonymous
Not applicable

Re: Ally Financial Soft INQ


@haulingthescoreup wrote:

@LS2982 wrote:

@missji wrote:
Same here! SP on 2/14. I applied for a job with them early last year but I canceled my interview because I had already accepted another offer. So I thought that maybe MAYBE they mistakenly pulled me because of that although I never gave my consent. Interesting...I wonder what they're up to.

They may have bought bureau profiles of certain scores etc. and are looking to send offers out.


+1

 

Sounds like a promo soft pull. These do NOT show all the details of your reports, the way that softs from current lenders do.


 

Yes, that makes sense, but then it raises two additional questions for me:

 

1.  What consumer credit products (aside from auto loans & mortgages) does Ally offer?  As far as I know, none.  Or at least that's what I get from their website.

 

2.  This whole promotional INQs has me confused.  Can't they only pull for a "confirmed offer of new credit"?  So if they pull and then never contact you I don't see any offer. 

 

 

Message 14 of 15
haulingthescoreup
Moderator Emerita

Re: Ally Financial Soft INQ


@Anonymous wrote:

@haulingthescoreup wrote:

@LS2982 wrote:

@missji wrote:
Same here! SP on 2/14. I applied for a job with them early last year but I canceled my interview because I had already accepted another offer. So I thought that maybe MAYBE they mistakenly pulled me because of that although I never gave my consent. Interesting...I wonder what they're up to.

They may have bought bureau profiles of certain scores etc. and are looking to send offers out.


+1

 

Sounds like a promo soft pull. These do NOT show all the details of your reports, the way that softs from current lenders do.


 

Yes, that makes sense, but then it raises two additional questions for me:

 

1.  What consumer credit products (aside from auto loans & mortgages) does Ally offer?  As far as I know, none.  Or at least that's what I get from their website.

 

2.  This whole promotional INQs has me confused.  Can't they only pull for a "confirmed offer of new credit"?  So if they pull and then never contact you I don't see any offer. 


I've had promo softs by roofing companies. Smiley Very Happy  --and for auto loans and mortgages.

 

There are two types of softs. One (account review/ account maintenance) is done by lenders on their existing customers. They see the whole report. They're making sure that you aren't running up all your balances on other cards, possibly getting ready to do a massive default. The other is a promotional soft, where they buy names and addresses of consumers who have certain parameters on their reports --maybe something like no lates worse than 60's, 3 years or more old, at least 5 years of credit history, one healthy installment loan. (That was completely pulled out of nowhere, by the way. Just a "for instance.") On these, they don't get details of your reports, other than that you fit within whatever parameters they set, plus your contact info. That's why so many people who accept a "pre-approval" get denied --there's something else on their reports that the lender sees when they pull a full report (hard inquiry) to decide if they really want to issue credit.

 

Which brings us to what you wrote: a "confirmed offer of new credit." That's a hard pull for a full report, because you have applied for/ requested new credit.

 

A very few lenders, such as PenFed, will offer new credit to existing customers without a hard --only a soft. But they're really, really rare.

* Credit is a wonderful servant, but a terrible master. * Who's the boss --you or your credit?
FICO's: EQ 781 - TU 793 - EX 779 (from PSECU) - Done credit hunting; having fun with credit gardening. - EQ 590 on 5/14/2007
Message 15 of 15
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