Help!!! Just alerted from EX 2 New HP's

[Anonymous]

99% don't warn you it might be an HP. Not even close.

And they do warn you, in their T&Cs.

[MrsCHX]

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@Anonymous wrote:
Also saying,

"Because they can. They may not, but they can. "

Is akin to saying don't use medicinal cannabis because Federal officials CAN arrest you, they may not but they can.

I would estimate the odds are about the same of getting a HP via a CLI request with VS as they are of being arrested for a gram of marijuana by a federal officer despite having medicinal cannabis.

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I don't know anything about marijuana and arrests but the fact is, every now and again, someone comes here outraged that they got a HP.

ASSUME A HP, BE HAPPY THAT IT'S A SP.

[Anonymous]

ABCD - How many people out of the millions read the T&C honestly?

And why does literally EVERY OTHER CREDITOR out some form of disclaimer on the CLI request page that it may trigger an inquiry?

[Revelate]

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@Anonymous wrote:
ABCD - How many people out of the millions read the T&C honestly?

And why does literally EVERY OTHER CREDITOR out some form of disclaimer on the CLI request page that it may trigger an inquiry?

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Doubt it's every other creditor, but the reason for doing that is so they don't get responses like this one

Or at least a lower incidence rate.

[CreditInspired]

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@MrsCHX wrote:

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@Anonymous wrote:
Also saying,

"Because they can. They may not, but they can. "

Is akin to saying don't use medicinal cannabis because Federal officials CAN arrest you, they may not but they can.

I would estimate the odds are about the same of getting a HP via a CLI request with VS as they are of being arrested for a gram of marijuana by a federal officer despite having medicinal cannabis.

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I don't know anything about marijuana and arrests but the fact is, every now and again, someone comes here outraged that they got a HP.

ASSUME A HP, BE HAPPY THAT IT'S A SP.

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+1 zillion, MrsCHX

Every single CLI I want, I call and speak to a CSR and specifically say, "If I request a CLI, will it be a SP or HP because I don't want to request it if it's a HP." The only two cards I request a CLI online is my DiscoverIT and my CitiDC, because the language states right there, "This is a SP request. If we need additional info, we'll inform you before continuing that your CR will be pulled" -- something to that effect.

[RobertEG]

The entire purpose of FCRA 604 is to list reasons for credit inquiries that, if present, provide basis for a pull of your credit report without any authorization from the consumer of any notification that they may or will pull your credit report. 

If a consumer iniitiates a request for new or extended credit, that is a clear permissible purpose under FCRA 604 that does not require any notice to or authorization by the consumer.

However, CRA policy is to provide codes for certain types of permissible inquiriies that will prevent their inclusion in any credit report sent to others, which is the definition of a soft pull.  Internal account reviews that are made by the creditor as opposed to being in response to a consumer initiated request for credit are coded by the CRAs as soft.

Not all inquiries under section 604 are based on extensions of credit.

A permissible purpose is also provided for any business transaction initiated by a consumer wherein evaluation of that transaction by the business has some legitimate business purpose on the part of the business to consider your credit history.  Utilities, rentals, and bank accounts typcially are such business transactions that provide permisible purpose even though not related to an extension or approval of credit per se.

[Anonymous]

CreditInspired - See yours state whether an inquiry will be done and if it will be a HP or SP, but in two cases there was no disclaimer stating any inquiry would be done Hard or soft.

Robert - While I understand the FCRA it doesn't make it any less painful. Pretty much EVERY creditor has a disclaimer that an inquiry will be done whether hard or soft on their CLI page, except Comenity.

Also, I applied for subsidized healthcare through my state and they did a HP on my EX report, that wasn't business related at all. Yet when I tried to dispute they outright refused to place a dispute on it...

[Anonymous]

I don't necessarily concur that you should totally avoid CLI requests if your score is under 740 - I successfully got a double-dip CLI from Discover last month with a 643/646 TU - but I wouldn't try the "luv button" more than, say, once a month either. And I'd certainly be prepared for auto-denials - for instance, after a couple of unsuccessful attempts at getting a CLI on my Amazon store card, I learned elsewhere on this forum that Synchrony will typically auto-deny you if your TU is under 650, so I'm not going to try again until my TU has gotten above that mark.

Also, I agree with ABCD and flttireguy that the law is clear; once you have a valid account with a creditor, they can HP you for any permissible purpose, and a CLI request counts as a permissible purpose. That doesn't mean a creditor will necessarily do a HP every time - most of the time they'll SP - but one should always be prepared for the possibility. Generally speaking - and I'm not addressing/criticizing anyone in particular on this point - it seems to me that a certain number of HP's are going to be part of being active in applying for credit or upgrading credit, and being too hard-line about restricting HP's can, as also pointed out, end up being counterproductive or in fact harmful.

[Anonymous]

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@Anonymous wrote:
I’ve been wanting to request a CLI on my VS card but I’ve been holding off because more and more people are saying it’s a hp. Honestly I will probably just sock drawer it for a while then just close it. I’ve learned Comenity is really unstable. I know one should expect a hp always but I feel like it’s not that difficult to let people know a new hp will be attained.

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This. I'm holding off on any CLI's on my new Overstock card because I'm well aware of Comenity's skittish reputation and, more to the point, because the $4K SL I got on a SP is so good - in fact, it's currently my highest tradeline. I'm just going to take care of it for at least the next few months while I work on babying my new accounts overall.

[Anonymous]

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@Anonymous wrote:

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@Anonymous wrote:

There is nothing saying any inquiry will be pulled. So I'm not too sure about that one.

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That's because by law they don't need any reason to pull an HP as they're already your creditor and already have permissible purpose.  If they wanted to pull an HP daily, they're welcome to.

Read more about PP here: https://www.law.cornell.edu/uscode/text/15/1681b

I guarantee you that both HPs were allowed and legal under PP and fighting them with the CRAs will possibly lead to havoc.

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@Anonymous wrote:

As far as Kohl's I called their credit dept. and they couldn't see anything they said I requested a CLI in May but that was auto-denied because I got a CLI in Feb. they couldn't see any reason for a HP this morning.

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HPs from CLIs and applications can take weeks to appear.  This isn't unusual.  If you applied for a CLI in May, it can pop up weeks later.

Always expect an HP from a CLI, celebrate when it's just an SP.

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HP's that do not show up within a day or two is unusual.

A HP showing up weeks later is very unusual.