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I had applied for their cash rewards card, and they did 3 hard pulls! Is this standard for them??
Yes this is standard operating practice for Cap One.
Yup, all three bureaus for every new product.
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welcome to capital one
@rootpooty wrote:welcome to capital one
Is your name Peggy by any chance?
In all seriousness...I wish Capital One would warn applicants about the 3 inquiries. I'm okay even ok with a 2nd pull if the application is borderline but 3 is a bit much.
I don't really see why people hate this so much. It's not three on the same bureau, so to me it isn't that big of a deal. Many people on here seem to have negatives on some or one report instead of all of them. I reckon Capital One just wants to get all the information they can about the credit profile.
@navigatethis12 wrote:I don't really see why people hate this so much. It's not three on the same bureau, so to me it isn't that big of a deal. Many people on here seem to have negatives on some or one report instead of all of them. I reckon Capital One just wants to get all the information they can about the credit profile.
Yes, I'm surprised that more lenders don't do this, for their own protection. Giving all the gaming advice ("which CRA does bank X pull?") it seems to make sense for banks to pull from, and report to, all. I assume there is additional costs to do this, which Cap One thinks is worth it (perhaps because they are good at giving credit to marginal cases) and others don't.
@navigatethis12 wrote:I don't really see why people hate this so much. It's not three on the same bureau, so to me it isn't that big of a deal. Many people on here seem to have negatives on some or one report instead of all of them. I reckon Capital One just wants to get all the information they can about the credit profile.
I agree that they want the most info. The issue is that if every bank did a 3 pull if you wanted 3 accounts that would = 9 inquiries. Technically they are only 3 on each but 3 may be enough to start auto denying if you wanted a different product. For example, 10 months ago I started with Capital One. They did a 3 pull. Since I wanted to build credit I needed to get credit. Therefore, I applied to a few other places as well (Discover and Citi). I got denied over inquiries even just for having 2. In the end a recon got me approved for the Citi...but if people don't know they can do a recon they would accept the auto denial.