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