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CREDIT FREEZE

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New Contributor

CREDIT FREEZE

Would it be a good idea to freeze my credit while I am in the process of trying to purchase a house? And when the mortgage people need to pull I lift the freeze?

  I ask this question because I have two creditors that are being paid through a payment plan, but as soon as they saw on my credit report that I was applying for a mortgage, they started pulling my credit report like once a week now and it is a hard pull that i keep getting alerts for.  I am up to 8 hard pulls now by one company and it has been in the last two months.  Can I do anything to stop them from pulling my credit reports so often?  It's like they are doing it because they know it will drop my score!

 

Thank you in advance

Message 1 of 4
3 REPLIES
Moderator Emeritus

Re: CREDIT FREEZE

Are you certain it's a hard pull, as opposed to a soft?

 

If it's a hard pull I'd ask them to stop and to remove the existing inquiries. 

 

I don't think a freeze would stop the inquiries because it's with an existing relationship. But you never know. I'd definitely talk to them first.

 

Message 2 of 4
New Contributor

Re: CREDIT FREEZE

Okay thank you!

Message 3 of 4
Community Leader
Epic Contributor

Re: CREDIT FREEZE

Inquires made by existing creditors that do not involve requests for additional credit initiated by the consumer are routinely coded as so-called "soft" inquiries that are not viewable in a consumer's credit report, and thus not scored by FICO.  They are internal account reviews.   

If an existing creditor is reporting inquiries unrelated to any initiation of credit by the consumer in a manner that is resulting in their viewing in your CR, I would contact/dispute with the CRA the accuracy of the stated permissible purpose.

If the CRA stone-walls then you can send a formal request to the CRA under FCRA 609(a)(1) that they provide you a copy of the stated permissible purpose provided by the creditor.

Section 609(a)(1) requires, upon payment of the current fee of $11.00 and proof of identity, that the CRA must provide any information of record in your credit file.

 

 

 

 

Message 4 of 4