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Hard Pull Vs Soft Pull Criteria

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tommiej7533
Valued Member

Hard Pull Vs Soft Pull Criteria

I'm having a battle with Sprint/Nextel over a hard credit pull on my credit report. When I purchased a new cell phone/service I specifically

asked if they did a hard pull vs soft pull and the office manager said they would only do a soft pull. Well I discovered they did a hard pull.

 

I have escalated this to their corporate office requesting they delete the hard pull from my credit reports.

 

Can someone tell me what exactly what is the difference between a hard pull and a soft pull or better yet what are the criteria of a soft pull vs a hard pull.

 

Thanks!!

Message 1 of 8
7 REPLIES 7
Creditaddict
Legendary Contributor

Re: Hard Pull Vs Soft Pull Criteria

The difference is other lenders would not see a soft pull, but they do see the hard.

ATT also does a hard pull

Message 2 of 8
MarineVietVet
Moderator Emeritus

Re: Hard Pull Vs Soft Pull Criteria

I now that it's aggravating that this was done but I've come to realize that the effect of inquiries is way over rated.

 

Having said that you might ask if they can recode the inquiry and update with the CRA's. That will sometimes work.

 

 

From a BK years ago to:
EX - 9/09 pulled by lender 802, EQ - 10/10-813, TU - 10/10-774

"Some people spend an entire lifetime wondering if they've made a difference. The Marines don't have that problem".

Message 3 of 8
tommiej7533
Valued Member

Re: Hard Pull Vs Soft Pull Criteria

Thanks for the response. I will ask if they can recode. A very good idea.

 

Tom

Message 4 of 8
RobertEG
Legendary Contributor

Re: Hard Pull Vs Soft Pull Criteria

The terms "hard" and "soft" pull or inquiry are never used in the FCRA, and are not regulated.

The CRAs provide for approx 12 different codes for identifying the type of inquiry being made.The inquiree  picks the code they wish to use.

The real distinction between hard and soft pulls resides with FICO scoring.  FICO made the scoring decision to count certain types of inquiryy codes in their scoring, while not scoring others, such as your own pull of your credit report, or unsolicited, promotional pulls.  Fico scores inquiries coded as mortgaqge or auto that are made within a certain window of time as only a single inquiry.

So it all depends on how the inquiree codes their pull.

 

Message 5 of 8
tommiej7533
Valued Member

Re: Hard Pull Vs Soft Pull Criteria

Do you know what the 12 diferent codes are and which ones would constitute a soft inquiry vs a hard inquiry?

Message 6 of 8
tommiej7533
Valued Member

Re: Hard Pull Vs Soft Pull Criteria

Just wanted to let  everyone know that Sprint has agreed to remove the hard pull on my account.

It is hard work sometimes but I have learned in every company there is someone , somewhere,

who has the best interests of the customer at heart.

 

Message 7 of 8
RobertEG
Legendary Contributor

Re: Hard Pull Vs Soft Pull Criteria

Good question tommy!  I, unfortunately, dont have a good answer.

I dont have the list of all inq codes at my fingertips, but where I last received it was from my comprehensive consusumer CR received through annualcreditreport.com, which included a full list of the codes, and their explanations. So try there.  These codes never specify "hard" or "soft."

I know of several codes that are not scored by fico.  One is for pull of your own CR.  Another is for PRM inquiries, which are for unsolicited promotional pulls of inflormation from your credit file, which limits them only to your name and address, and not your full CR.  Another is for internal reviews of your CR by existing creditors for periodic review.

I know that permnissible pull of your CR is authorized for any business transaction that you initiate, or for any application you make for new credit, or for increase of credit with an existing creditor.  But my recollection of the list of inquiry codes did not include separate coding that would let the inquiree be able to code it in separate categories that FICO would view as either a "hard" or "soft" inquiry.  I dont see any lisiting of codes that lets an inquiree make this distinction.

So, if a creditor has made a legitimate inquiry that was coded as what FICO scores as a "hard pull," I have NO IDEA how they would then update their inquiry code to one that FICO does not recognize as a "soft pull," and thus does not score, other than to totally delete the inquiry from your credit file

Maybe some FICO scoring guru can jump in.  I have no idea how they recode from "hard" to "soft."

Another mystery of credit reporting and scoring!

Message 8 of 8
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