11-25-2012 07:59 AM
Love zombie threads. RED debit sounds like a pretty good idea though, 5% off is a pretty good deal for not doing much
|Chase Freedom $5000|
DCU Visa $10000
Capital One QS $2000
AMEX BCE $1000
|Lowe's CC $8500|
WalMart CC $2400
BOA Platinum $600
AMEX Gold NPSL
11-25-2012 02:37 PM
So does Target pull your credit report even though you are applying for a debit card? If so is it a soft or hard pull? Finally if they do pull CR which one they pull it from?
There is no pull on your credit reports, hard, soft, or otherwise for the DEBIT CARD version.
I went through the same panic and questions before I applied, what they DO is pull a report on you through another vendor (not on of the credit report providers) on your check writing history, etc. I believe they use CHEX, althogh I'm not 100% sure on that - it may be another vendor.
Short answer: They check you out, but not through a hard or soft pull on your credit report through one of the big three CRAs.
This is false information. TNB Target soft pulled my Experian report on the date I applied for my REDCard Debit card. They also pull from the company they use for check processing (can't remember which, but I requested paper reports from all the major ones like ChexSystems a few months back, and one of them definitely had an inquiry matching the date of my application).
It says in the terms and conditions that they use CRAs, and it even warns you on the electronic pad before you sign the application. I used to work for Target, and I would get plenty of apprehension and complaints over this. Even had a few guests come back to the store after reviewing their reports to tell me they saw an inquiry.
11-25-2012 03:17 PM
myFICO is the consumer division of FICO. Since its introduction 20 years ago, the FICO® Score has become a global standard for measuring credit risk in the banking, mortgage, credit card, auto and retail industries. 90 of the top 100 largest U.S. financial institutions use the FICO Score to make consumer credit decisions.>> About myFICO