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Double Pulls for CC's becoming the norm? - Chase, BOA

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emptypockets
Valued Contributor

Double Pulls for CC's becoming the norm? - Chase, BOA

Just wondering if this is becoming the norm. The last two cards I received did double pulls - BOA for the Better Balance Rewards card (instant approval 12.5 k, pulled EX and TU) , and Chase for the Marriott Rewards Visa Signature (15.1 k, pulled EX and TU). I am happy they were approved, but was shocked at the double pulls. I am an existing customer with BOA (mortgage) and Chase (checking, and 2 other CC's). My scores are in my signature, util 5%, AAoA 5 yrs. I have seen people report double pulls when their credit profile was "borderline," but now it seems like it is becoming much more likely to get a double pull.

People should take this into account when trying to open new accounts, especially if you are trying to limit INQ's.

CC's: AMEX (4), Alliant Visa, PenFed AMEX, Pen Fed Promise, Citi (3), Chase (5), US Bank Cash+, Huntington Voice, Nasa Plat Cash Visa, Barclay's Visa, Discover IT, Cap One QS, BOA (2), BMW Visa, 5/3 Real Life Rewards MC; FNBO Amex; Comenity Visa/MC (3), Ebates Visa Siggy, Nordstrom Visa, Walmart MC, Sam's Club MC; A few assorted store cards.

Current Scores (09/2017): EQ My Fico: 786; TU MyFico: 799; EX (My Fico): 797
Message 1 of 29
28 REPLIES 28
longtimelurker
Epic Contributor

Re: Double Pulls for CC's becoming the norm? - Chase, BOA


@emptypockets wrote:
Just wondering if this is becoming the norm. The last two cards I received did double pulls - BOA for the Better Balance Rewards card (instant approval 12.5 k, pulled EX and EQ) , and Chase for the Marriott Rewards Visa Signature (15.1 k, pulled EX and TU). I am happy they were approved, but was shocked at the double pulls. I am an existing customer with BOA (mortgage) and Chase (checking, and 2 other CC's). My scores are in my signature, util 5%, AAoA 5 yrs. I have seen people report double pulls when their credit profile was "borderline," but now it seems like it is becoming much more likely to get a double pull.

People should take this into account when trying to open new accounts, especially if you are trying to limit INQ's.

I think that they are becoming more common, although some are still getting single pulls.  My last three cards (CSP, TYPrem and TYPref) all were double pulls).  In the past, you expect double or triple pulls on marginal applications, but in this case each of granted CLs was above $15K....

Message 2 of 29
Cdnewmanpac
Established Contributor

Re: Double Pulls for CC's becoming the norm? - Chase, BOA

I have no proof, but my guess is that TU is aggressively trying to recapture market share. About 15 years ago, nobody pulled EX. I remember my first mortgage broker told me the only inquiries he ever saw on EX were for mortgage triple pulls. Then EX lowered their prices and went after lenders aggressively for a few years. Now they are the most common CRA used by the major credit card issuers. EQ dominates the credit union market, but TU has become an "also ran". As more regional banks (that used to use TU) become part of national chains that use EX, TU is losing relevance. I'm guessing that's how CK is able to afford to offer free weekly pulls. I think that's also why we are seeing more EX+TU pulls. It must have gotten a lot cheaper.

In wallet: Ink Plus 10k, AMEX TE 25k. In bag: CSP 16k, USAA WMC 15k, Hyatt 13k, United MPE 12k, AMEX HHonors 3k. In SD: Cap 1 QS 5k, Discover IT 7k. FICO 08 says my EQ is now 844, was 510 in 2010.
Message 3 of 29
LS2982
Mega Contributor

Re: Double Pulls for CC's becoming the norm? - Chase, BOA


@emptypockets wrote:
Just wondering if this is becoming the norm. The last two cards I received did double pulls - BOA for the Better Balance Rewards card (instant approval 12.5 k, pulled EX and TU) , and Chase for the Marriott Rewards Visa Signature (15.1 k, pulled EX and TU). I am happy they were approved, but was shocked at the double pulls. I am an existing customer with BOA (mortgage) and Chase (checking, and 2 other CC's). My scores are in my signature, util 5%, AAoA 5 yrs. I have seen people report double pulls when their credit profile was "borderline," but now it seems like it is becoming much more likely to get a double pull.

People should take this into account when trying to open new accounts, especially if you are trying to limit INQ's.

Could possibly. I doubt it. For those awesome lines 2 pulls is worth it IMO.




EQ FICO 548 3/3/16
Message 4 of 29
NJTurnpike
Established Contributor

Re: Double Pulls for CC's becoming the norm? - Chase, BOA

easy enough to avoid double pull. just lock two reports before applying.


DCU ( pulled 3/29/13) EQ04 683 | Amex (pulled 3/28/13) EX 760 | US Bank (pulled 3/28/13) EX 753
CreditKarma (4/19/13) TU-TR 701 | TU Vantage 788 | USAA FAKO (3/31/13) EX 728, EQ 699, TU 737 |
Inquiries (4/18/13) EX 13 | EQ 13 | TU 14
Message 5 of 29
LS2982
Mega Contributor

Re: Double Pulls for CC's becoming the norm? - Chase, BOA


@NJTurnpike wrote:

easy enough to avoid double pull. just lock two reports before applying.


Thats considered to be manipulating the system here and unethical. Can also lead to a triple pull.




EQ FICO 548 3/3/16
Message 6 of 29
NJTurnpike
Established Contributor

Re: Double Pulls for CC's becoming the norm? - Chase, BOA

Manipulating the system? locking your reports is considered manipulating the system? really? we constantly ask the question "who are they likely to pull?" all over this forum.

 

If something you're applying for denies you because you only let them see one credit report, at least then you have the opportunity to decide if the application is worth 2 HP's or 3 HP's instead of 1 HP.

 

It's hardly manipulating. It's certainly not up there with vanilla reloads or US mint churns.

 

there's nothing unethical about keeping businesses from pulling your credit reports without your permission. seriously you think there's something unethical about letting them see as much private information about you as they want?


DCU ( pulled 3/29/13) EQ04 683 | Amex (pulled 3/28/13) EX 760 | US Bank (pulled 3/28/13) EX 753
CreditKarma (4/19/13) TU-TR 701 | TU Vantage 788 | USAA FAKO (3/31/13) EX 728, EQ 699, TU 737 |
Inquiries (4/18/13) EX 13 | EQ 13 | TU 14
Message 7 of 29
blondy250
Established Contributor

Re: Double Pulls for CC's becoming the norm? - Chase, BOA

I agree, unethical manipulation.
Fico 8 12/9/17
Equifax 850, TransUnion 842 10/30/17 , Experian 842 12/11/17 . AAOA 12 years Oldest 20
No inquires since 2014
All credit reports frozen
Fico 8 Equifax Bankcard 866 12/27/16
Message 8 of 29
LS2982
Mega Contributor

Re: Double Pulls for CC's becoming the norm? - Chase, BOA


@NJTurnpike wrote:

Manipulating the system? locking your reports is considered manipulating the system? really? we constantly ask the question "who are they likely to pull?" all over this forum.

 

If something you're applying for denies you because you only let them see one credit report, at least then you have the opportunity to decide if the application is worth 2 HP's or 3 HP's instead of 1 HP.

 

It's hardly manipulating. It's certainly not up there with vanilla reloads or US mint churns.

 

there's nothing unethical about keeping businesses from pulling your credit reports without your permission. seriously you think there's something unethical about letting them see as much private information about you as they want?


Freezing your reports with the intent to limit a lender on who they can pull is manipulating the system because freezing reports was not created for that purpose and a lender has every right to pull whatever file they feel they need to pull whether it is 1, 2, or all 3.

 

 




EQ FICO 548 3/3/16
Message 9 of 29
NJTurnpike
Established Contributor

Re: Double Pulls for CC's becoming the norm? - Chase, BOA

they do have every right to pull 1 2 or 3 reports, with your permission. And you have every right to lock 1, 2, or all 3 reports and still apply for any card you want. This is not an ethical dilemna here. this a financial and business decision on both parties part. unethical would be akin to lying, such as putting bloated income on your app or applying for credit in someone else's name. let's keep the judgement calls to the definition of the words.


DCU ( pulled 3/29/13) EQ04 683 | Amex (pulled 3/28/13) EX 760 | US Bank (pulled 3/28/13) EX 753
CreditKarma (4/19/13) TU-TR 701 | TU Vantage 788 | USAA FAKO (3/31/13) EX 728, EQ 699, TU 737 |
Inquiries (4/18/13) EX 13 | EQ 13 | TU 14
Message 10 of 29
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