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Apartment Application resulted in HP :(

New Contributor

Apartment Application resulted in HP :(

So I'm getting married in January, and getting a new apartment with my wife-to-be then. When we applied for the apartment, they said they would run a credit check. I asked if it would be a HP or SP and the people didn't know what the difference was. They did say they were pretty sure it wouldn't hurt my credit score (which of course a HP does, temporarily), so I figured it might be a SP like what I've gotten when opening a checking account. Anyways, I just got an alert from CK saying I have a new HP on my TU report. I'm really hoping they didn't HP all 3 bureaus Smiley Sad

 

Does this mean I have to restart my garden counter to 0? Smiley Wink

Recent FICO scores: TU - 755 (mortgage lender pull)
Message 1 of 12
11 REPLIES
Regular Contributor

Re: Apartment Application resulted in HP :(

My apartment was an HP on only one of the 3 bureaus. Almost all apartment applications result in a HP.


Starting: 563 | Current: 748 (TU 8/15) | Goal: 800 | Garden since: 08/10/2015

Message 2 of 12
Established Contributor

Re: Apartment Application resulted in HP :(

yep unfortunately apartments are all hardpulls, you might get lucky if you can document a credit report for them but that's depending on management, some are happy they're saving money. but usually requires you to do it in front of them as proof.

 

but a inquiry isn't the end of the world. although when you move to a new address a lot of banks red flags this on apps since it has a potential risk whenever you move for id theft or new cost of living etc. some car loans will red flag you for 2 years it's hard and retarded.


total credit limits $108,400 Credit scores Ex 728 EQ 738 TU 758
Message 3 of 12
Frequent Contributor

Re: Apartment Application resulted in HP :(


Omri wrote:

Does this mean I have to restart my garden counter to 0? Smiley Wink


From the Garden Club rules: "recognition levels reset once you add an account or incur a HP"

Welcome BACK to the Garden, Seedling! Smiley Very Happy



09/30/2017 - EX 811 (Credit Scorecard EX FICO® Score 8, range 300-850)
11/20/2017 - TU 842 (Discover TU FICO® Score 8, range 300-850)
10/24/2017 - EQ 845 (Citi EQ FICO® Bankcard Score 8, range 250-900)
GOAL - 800! - App free since 11/22/2017
Message 4 of 12
Established Contributor

Re: Apartment Application resulted in HP :(


brother7 wrote:

Omri wrote:

Does this mean I have to restart my garden counter to 0? Smiley Wink


From the Garden Club rules: "recognition levels reset once you add an account or incur a HP"

Welcome BACK to the Garden, Seedling! Smiley Very Happy


lol since he didn't apply for a new line of credit etc they should let him slide =p


total credit limits $108,400 Credit scores Ex 728 EQ 738 TU 758
Message 5 of 12
New Contributor

Re: Apartment Application resulted in HP :(

I guess it came as a surprise because (as far as I know), I've never been HPed for an apartment before.

 

If it *was* just on TU, that's fine though, because almost none of the cards in my recent app spree pulled TU (last year for EX/EQ/TU numbers were 4/5/2 before this)

Recent FICO scores: TU - 755 (mortgage lender pull)
Message 6 of 12
Valued Contributor

Re: Apartment Application resulted in HP :(

All my apartments have been HP, and boy do I like to move around...

5/2012: 560 credit scores across the board
12/2014 750+
3/2017 780+
5/2017 800+
Message 7 of 12
Established Contributor

Re: Apartment Application resulted in HP :(

Apartment apps tend to fall into three categories:

 

- No fee, no credit report (these tend to be small owner-managed properties)

- App fee, credit report only if they have a suspicious feeling about you (same as above)

- App fee, credit report (most corporately-managed apartments, and an increasing number of owner-managers)

 

When they do pull a credit report, it has always been a hard pull in my extensive rental experience.  And it has always been on one and only one bureau.

 

In  the long run, not the end of the world.

Starting: EQ 622 (myFICO 7/7/12), EX 696 (TU FAKO 8/14/12), TU 621 (CK TransRisk 7/24/12), Total CL $1k on 2 TLs
Current: EQ 709 (CCT 2/4/15), EX 704 (CCT 2/4/15) , TU 702 (CCT 2/4/15), Total CL $110.3k on 14 TLs Goal: 740+ x3
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Message 8 of 12
Valued Contributor

Re: Apartment Application resulted in HP :(

Apartment is not the only thing that will get you HP. Utility, cell phone, insurance, even applying for a job can get you a HP.

 

Message 9 of 12
Valued Contributor

Re: Apartment Application resulted in HP :(

Congrats on your upcoming wedding! I also got hit with a HP the one time I rented an apt several years ago. Each time I renewed the lease thereafter, (1 year lease) it was a SP.

Starting Score: EQ 717 EX 724 TU 736
Current Score: EQ 832 EX 783 TU 816
App free since 9/15/15
Message 10 of 12