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Wells Fargo dinged us twice. Are they supposed to?

New Contributor

Wells Fargo dinged us twice. Are they supposed to?

I checked my fiances credit scores today to see what kind of effect the inquiry from applying at wells fargo would be, and there were two inquiries Smiley Mad I don't understand why, he was applying for a secured cc, why do they need to run his score twice?? his score lowered 9 points. right now every point counts for us, we're really trying to reach our goals to get a house. If we knew they'd pull his score twice we never would have applied!

9 REPLIES
New Contributor

Re: Wells Fargo dinged us twice. Are they supposed to?

bump
Established Contributor

Re: Wells Fargo dinged us twice. Are they supposed to?

Did they pull the same bureau twice, or two different ones?  For my secured credit card they only pulled Experian, but a year ago when I applied for overdraft protection/line of credit, they pulled both Experian and Transunion.
Moderator Emeritus

Re: Wells Fargo dinged us twice. Are they supposed to?

Many loan officers will tell you no new apps/inqs for 6 months prior to a mortgage.
~*~*~*~*~*~*~*~*~*~*~
From 700 in 2008 to 498 in 2012...
4/23/12 -- BK 13 date of filing EQ = 505
4/18/12 -- EQ 498
12/5/13 -- EQ 669
Here we go.... back on track.
New Contributor

Re: Wells Fargo dinged us twice. Are they supposed to?

Might not be an error. I applied for a CC last week and my EQ score dipped 11 points! I was shocked that it was so much.
New Contributor

Re: Wells Fargo dinged us twice. Are they supposed to?


vonMannstein wrote:
Did they pull the same bureau twice, or two different ones?  For my secured credit card they only pulled Experian, but a year ago when I applied for overdraft protection/line of credit, they pulled both Experian and Transunion.

 

They pulled fromthe same one twice Smiley Sad
Frequent Contributor

Re: Wells Fargo dinged us twice. Are they supposed to?

Your loan officer should have stressed not to open anything new or apping.  I was told to stay away from apping for ANYTHING until after I had keys in hand.  They can and often will pull your credit right before closing even if you have been approved and this can make a difference.  

 

As for pulling it twice, I do not know why they would, but when I was shopping for a mortgage, my credit was pulled by one of the banks three times on the same day...our lender disregarded it.

 

Lisa 

WOW! EQ when I joined myFICO: 657. Ups and downs and a few bumps and bruises, but finally back over 700. Whew!

Moderator Emerita

Re: Wells Fargo dinged us twice. Are they supposed to?


scubagirl1215 wrote:

vonMannstein wrote:
Did they pull the same bureau twice, or two different ones?  For my secured credit card they only pulled Experian, but a year ago when I applied for overdraft protection/line of credit, they pulled both Experian and Transunion.

 

They pulled fromthe same one twice Smiley Sad

This sounds like an error to me. Maybe two different reps were working the app.

I would put on my best Nice Voice and ask them please to cancel one of the inqs. They were both on the same day, right? Not because you asked for a recon, and they pulled again or something?

But I'll bet that only one is counting for scoring, anyway. Multiple inqs on the same bank all at once are de-duplicated for scoring, even for CC's, probably for this very reason.
* Credit is a wonderful servant, but a terrible master. * Who's the boss --you or your credit?
FICO's: EQ 781 - TU 793 - EX 779 (from PSECU) - Done credit hunting; having fun with credit gardening. - EQ 590 on 5/14/2007
New Contributor

Re: Wells Fargo dinged us twice. Are they supposed to?

We're not planning on applying for the mortgage for about a year, thats why we're applying for some secured credit cards right now. We're trying to raise our scores to at least 620
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New Contributor

Re: Wells Fargo dinged us twice. Are they supposed to?

cuz wells fargo sucks, point said. but i wish you luck on your goal of getting a houseSmiley Happy thats what me and my wife are trying to do.