Credit Card Center Advertiser Disclosure†
11-16-2012 01:04 PM
Typically, I believe so. Everyone I have had was a hard pull. I suppose it depends on the lender and the purpose though.
11-16-2012 06:43 PM
Almost always a HP for new credit.
11-17-2012 12:51 AM
The only issue under the FDCPA is if the inquiry was permissible. Application for new or additional credit always has express permissible purpose, as do reviews of accounts by your current creditors. Two examples of every day permissible purpose that are treated differently based on practice, not statute or regulation.
The issue of hard vs soft is an administrative coding issue. It is common practice that inquiries by your creditors to conduct a review of your account on their own, when not related directly to a consumer initiated request for new or additional credit, are coded as soft. Creditors seem to comply with this practice.
Any inquiry that is based on a consumer initiated request for new or additional credit is fair game, and in my opinion should be, coded as "hard."
That is the primary intent of even including inquiries in consumer credit reports.... so others can see your attempts for addtional credit.
Forums posts are not provided or commissioned by FICO. Forums posts have not been reviewed, approved or otherwise endorsed by FICO. It is not FICO's responsibility to ensure all posts and/or questions are answered.† Advertiser Disclosure: The listings that appear on myFICO are from companies from which myFICO receives compensation, which may impact how and where products appear on myFICO (including, for example, the order in which they appear). myFICO does not review or include all companies or all available products.
* For complete information, see the terms and conditions on the credit card issuer’s website. Once you click apply for this card, you will be directed to the issuer’s website where you may review the terms and conditions of the card before applying. While myFICO always strives to present the most accurate information, we show a summary to help you choose a product, not the full legal terms - and before applying you should understand the full terms of products as stated by the issuer itself.
IMPORTANT INFORMATION: All FICO® Score products made available on myFICO.com include a FICO® Score 8, along with additional FICO® Score versions. Your lender or insurer may use a different FICO® Score than the versions you receive from myFICO, or another type of credit score altogether. Learn more
FICO, myFICO, Score Watch, The score lenders use, and The Score That Matters are trademarks or registered trademarks of Fair Isaac Corporation. Equifax Credit Report is a trademark of Equifax, Inc. and its affiliated companies. Many factors affect your FICO Score and the interest rates you may receive. Fair Isaac is not a credit repair organization as defined under federal or state law, including the Credit Repair Organizations Act. Fair Isaac does not provide "credit repair" services or advice or assistance regarding "rebuilding" or "improving" your credit record, credit history or credit rating. FTC's website on credit.