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w20031424
Posts: 360
Registered: ‎10-17-2012
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Does credit union pull credit report?

I had membership with four different credit union before,  two app online, two in branch, all tripped-HPed my credit report. Why do they do this? They're not extending any credit to me afterall. Does this happen a lot?

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enharu
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Registered: ‎02-27-2013
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Re: Does credit union pull credit report?

This seems to be common practice for most CUs.

However, the same pull usually can be used for credit app(s), as long as its within 30 or 60 days, depending on the CU's policies.

 

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ElCamino
Posts: 208
Registered: ‎03-20-2013
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Re: Does credit union pull credit report?


w20031424 wrote:

I had membership with four different credit union before,  two app online, two in branch, all tripped-HPed my credit report. Why do they do this? They're not extending any credit to me afterall. Does this happen a lot?


Credit Unions will pull your CRs because they tend to be particular about their membership. Some Credit Unions are much more difficult to get into than others. PenFed is the one most touted as difficult to get into, and myself and a few others have even had trouble getting membership to DCU (YMMV for DCU).

Although PenFed will use the original HP up to a point for any credit products after you become a member.



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HiLine
Posts: 3,176
Registered: ‎10-19-2012
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Re: Does credit union pull credit report?

Perhaps they want to develop a closer relationship with their members and have to pull credit reports to understand their members' financial situations and needs better?

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Rhaeny
Posts: 1,507
Registered: ‎07-24-2011
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Re: Does credit union pull credit report?


HiLine wrote:

Perhaps they want to develop a closer relationship with their members and have to pull credit reports to understand their members' financial situations and needs better?


Yep and all 3 reports are not always the same so they want to see the differences.


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boomhower
Posts: 1,863
Registered: ‎09-20-2011
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Re: Does credit union pull credit report?

[ Edited ]

ElCamino wrote:

w20031424 wrote:

I had membership with four different credit union before,  two app online, two in branch, all tripped-HPed my credit report. Why do they do this? They're not extending any credit to me afterall. Does this happen a lot?


Credit Unions will pull your CRs because they tend to be particular about their membership. Some Credit Unions are much more difficult to get into than others. PenFed is the one most touted as difficult to get into, and myself and a few others have even had trouble getting membership to DCU (YMMV for DCU).

Although PenFed will use the original HP up to a point for any credit products after you become a member.


Penfed isn't that hard to get into, they are just hard to get credit from. 

 

Most CU's will pull your credit but pulling more than one report is rare.  For the most part they tend to pull EQ.  As mentioned most will use that pull for credit products also, with DCU being an exception.  You can bet they are pulling your Chex report as well.  Where did you apply for only membership that triple pulled you?


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