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Established Contributor
Posts: 869
Registered: ‎07-04-2012
0

Lenders softing me

 

Last month I did not have so many softies, it all started since the app spree.

Is it normal for lenders to soft new accs like that? Should I be concerned?

I'm wondering what's going on here and what to expect if this is a non conventional practice.

 

Amex 6 pulls in EX,

Barclay 3 pulls distributed,

Every lender I have an acc with pulled TU last month after spree.

And.. nobody has touched EQ :smileyhappy:

 

EX report

 

EX INQ 9-1-12.jpg

 

 

 

and TU

 

 

TU INQ 9-1-12.jpg

 

 

I just received the signed up bonuses, could the softies be cause of that?


Should I expect more pre-approval offers?

Fico Scores: . Walmart TU 748 . Garden 8/19 2014 .

Cap One Journey 500 | Discover IT 500 | GE Home Design 5.6k | GE HHGREGG 5k | Amex Zync NPSL | Amex BCE 6k | Citi Forward 4.2k | Citi Dividend 3k | GE BrandsMart 1k | GE Lowes 8.5k | Discover Walmart 7.5k | Barclays Apple 2.5k | BoA CR 2.7k | CSP 7.2k | Platinum Prestige 5k | IT Chrome 4k | Slate 2.3k |
Senior Contributor
Posts: 3,322
Registered: ‎05-05-2011
0

Re: Lenders softing me

Oddly enough, I have noticed that pattern, too. It seems that as soon as I app for a new CC (inquiry) or when a new CC reports, I get softed by other CCs. I wonder if the CRBs are sending info to our CCs, letting them know we have an inq or new acct reporting.  Of couse, I have no proof. But it wouldn't surprise me at all. Otherwise, it's just a huge coincidence, which I guess is possible.

 

(And I don't really do app sprees -- I usually get one CC at a time.)

 

~*~*~*~*~*~*~*~*~*~*~*~*~*~*~*~*~*~*~*~*~*~*~*~*~*~*~*~*~*~*~*~*~*~*
EQ FICO 750 | TU FICO 761 (Walmart) | EX FAKO 767 | Goal: 800+

Edits, funky spacing and spelling due to my iPad not getting along with the forum editor!

Established Contributor
Posts: 651
Registered: ‎08-07-2012
0

Re: Lenders softing me


CruzImperial wrote:

 

Last month I did not have so many softies, it all started since the app spree.

Is it normal for lenders to soft new accs like that? Should I be concerned?

I'm wondering what's going on here and what to expect if this is a non conventional practice.

 

Amex 6 pulls in EX,

Barclay 3 pulls distributed,

Every lender I have an acc with pulled TU last month after spree.

And.. nobody has touched EQ :smileyhappy:

 

EX report

 

EX INQ 9-1-12.jpg

 

 

 

and TU

 

 

TU INQ 9-1-12.jpg

 

 

I just received the signed up bonuses, could the softies be cause of that?


Should I expect more pre-approval offers?


May I ask what credit monitoring service you use?

EQ-732FICO,EX-PLUS 740,TU-725FICO
Goal 750 Across

NFCU Signature Cash Rewards Visa, Chase Freedom Visa, Wells Fargo Visa Secured
Established Contributor
Posts: 869
Registered: ‎07-04-2012
0

Re: Lenders softing me

Actually, I don't have any credit monitoring service active at this point. Mmm only ones I could think of are CK (updates daily) and the Walmart one.

I used to have the Discover CMS but cancelled it about last month and have not tried the amex one yet.

It would be big coincidence that cap one and discover both soft me right now.

Fico Scores: . Walmart TU 748 . Garden 8/19 2014 .

Cap One Journey 500 | Discover IT 500 | GE Home Design 5.6k | GE HHGREGG 5k | Amex Zync NPSL | Amex BCE 6k | Citi Forward 4.2k | Citi Dividend 3k | GE BrandsMart 1k | GE Lowes 8.5k | Discover Walmart 7.5k | Barclays Apple 2.5k | BoA CR 2.7k | CSP 7.2k | Platinum Prestige 5k | IT Chrome 4k | Slate 2.3k |
Community Leader
Valued Contributor
Posts: 1,408
Registered: ‎07-12-2011
0

Re: Lenders softing me

It's not a coincidence that you get SP with every new app.  The CC companies can subscribe to a service that informs them of any new activity on your CR if you have an act with them. Looking at your SPs,  I'd only be worried about Barclays.  If you were a marginal approval, they have been known to take AA sometimes.  :smileyhappy:. Otherwise, it's a common practice.  


Starting Score: 642
Current Score: EQ 773, EX 780, TU 777 (All FICO)
Goal Score: 800+

Cards: NFCU Flagship 50K, DC 30K, BCP 28.6K, Arrival+ 25K, Citi DP 22.8K, CSP 20.5K, TotalRewards 20.5K, QuickSilver 20K

Established Contributor
Posts: 803
Registered: ‎05-16-2012
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Re: Lenders softing me


improvingmycredit wrote:

It's not a coincidence that you get SP with every new app.  The CC companies can subscribe to a service that informs them of any new activity on your CR if you have an act with them. Looking at your SPs,  I'd only be worried about Barclays.  If you were a marginal approval, they have been known to take AA sometimes.  :smileyhappy:. Otherwise, it's a common practice.  



That makes sense but I wonder if certain applications with certain banks trigger this? I did not notice any activity when two school loans posted or when my application for NFCU posted but I swear to gawd that when I applied for Amex (which I was denied) I noticed Chase was right on top of it...like the same day, almost simultaneously and two more within the next week. Makes you wonder. Honestly, I want to reapply with Amex since all issues have been resolved, but I have a sense that Chase did not like that app. Maybe it is in my head? This is all too exhausting..lol

100% Ficos: EX 773 , TU 780, EQ 771 Inquiries last 2 years/1 year/6 months: EX-0/0/0, TU-0/0/0, EQ-2/0/0~ last credit card app 6/24/13- New car loan 3/8/2014- Discover IT $12,500~Kohls $1000~Amex BCE $4000~ Walmart Discover $7500~NFCU Signature CashRewards $19,400~ Chase Freedom MC $6000~ Chase Amazon Visa $1900~ Cap 1/HSBC MC $3800~ Amazon Store $7000~ Fingerhut $1050
Established Contributor
Posts: 869
Registered: ‎07-04-2012
0

Re: Lenders softing me

I am starting to believe they somehow do have a method of knowing something new happened to our files (like a CMS specially for them) and after receiving info of changes in our credit, they soft to see what's going on.

Fico Scores: . Walmart TU 748 . Garden 8/19 2014 .

Cap One Journey 500 | Discover IT 500 | GE Home Design 5.6k | GE HHGREGG 5k | Amex Zync NPSL | Amex BCE 6k | Citi Forward 4.2k | Citi Dividend 3k | GE BrandsMart 1k | GE Lowes 8.5k | Discover Walmart 7.5k | Barclays Apple 2.5k | BoA CR 2.7k | CSP 7.2k | Platinum Prestige 5k | IT Chrome 4k | Slate 2.3k |
Senior Contributor
Posts: 3,322
Registered: ‎05-05-2011
0

Re: Lenders softing me

[ Edited ]

Case in point: 8/31, I apped and was approved for CitiBank Visa. I apped just after 12 AM (midnight) Pacific time. Both Amex and Chase softed me on 8/31. Coincidence? I think not. I think that CCs want to know when we're looking for credit and want to see what's going on with the rest of our credit profile when we are seeking new credit.

 

This is only my EX report. I'm not currently paying for EQ or TU reports, so I don't know who is softing me there.

 

~*~*~*~*~*~*~*~*~*~*~*~*~*~*~*~*~*~*~*~*~*~*~*~*~*~*~*~*~*~*~*~*~*~*
EQ FICO 750 | TU FICO 761 (Walmart) | EX FAKO 767 | Goal: 800+

Edits, funky spacing and spelling due to my iPad not getting along with the forum editor!

Community Leader
Valued Contributor
Posts: 1,408
Registered: ‎07-12-2011
0

Re: Lenders softing me

+1

They absolutely subscribe to a service offered by the CRAs that alerts them of new HPs.  :smileyhappy:  I noticed that Barclays does not subscibe to the service but does SP TU and EX religiously for the first 5-6 months of opening an account with them.  


Starting Score: 642
Current Score: EQ 773, EX 780, TU 777 (All FICO)
Goal Score: 800+

Cards: NFCU Flagship 50K, DC 30K, BCP 28.6K, Arrival+ 25K, Citi DP 22.8K, CSP 20.5K, TotalRewards 20.5K, QuickSilver 20K

Frequent Contributor
Posts: 358
Registered: ‎06-25-2012
0

Re: Lenders softing me


CruzImperial wrote:

Actually, I don't have any credit monitoring service active at this point. Mmm only ones I could think of are CK (updates daily) and the Walmart one.

I used to have the Discover CMS but cancelled it about last month and have not tried the amex one yet.

It would be big coincidence that cap one and discover both soft me right now.


"Amex Serviced by CIC" is how Amex Credit Secure monitoring service shows up when pulling your updated reports. "American Express 2" is generally promotional inquiries for pre-approvals.

 

You may have inadvertently enrolled in a free trial of CreditSecure when you activated your card. I would call them as soon as possible to find out before you end up getting charged.

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