Hi all, I have a few questions here, and a warning as well for people in a similar situation.
I have a Macy's store card. Limit is $500, balance is $0, Open date is 12/2001, last activity is 2/2002, CR states the account is still open. In an effort to raise my score by having another line reporting a balance, I charged one purchase for about $26 over the weekend. Well now, I have a new hard pull from Macy's/DSNB. On my alert, I see the following text:
The following inquiries are "hard" or voluntary inquiries and were generated because you authorized the companies listed to request a copy of your credit report.
So my questions...
I obviously didn't explicitly authorize any such credit pull... Does Macy's/DSNB have the right to make that hard inquiry just because I have an existing account with them?
Whether they do or don't, is there any way I can get that item removed (I imagine that an inquiry is diff than a late payment in that regard, but not sure...)
I know that this is just one inq, but I don't have any in the past 2 years other than this. Also, I was going to apply for one credit card soon - after I brought my score up a bit and hopefully banished a few baddies first. Now I am concerned about having too many inquiries in a short period.
Any answers/advice I receive would be greatly appreciated.
They did the hard pull because you had not used the card in 6 yrs. they wanted to make sure that they deemed you credit worthy. You could call them and ask them to remove the inq or change it to a soft. And one inq is unlikely to affect your chances for getting another card. I have 20 since Dec. and got 11 of them.
I only use my Macy's card once a year. Each year, before my annual purchase, I call Macy's credit department to find out whether or not I'm going to have any problems using my card. The last time I called, in December, I was told that I must use my card once every 2 years or the account will be considered "inactive."