01-17-2013 09:38 AM
Credit checks for a security system? Okay yeah I'm new to the whole home owner thing but I was surprised to learn that they actually needed to do a credit pull on me. Does anyone have an idea as to weather or not this is a HP or SP?
01-17-2013 01:42 PM
IME, ADT did a hard pull. EQ IIRC. I have a post in here somewhere with more details. Also ADT delegates the report pulls through their dealers, and is optional with each one.
01-22-2013 10:48 AM
I can imagine the logic for the pull involves the propensity for people with bad credit to be robbed more often or to recklessly set their own homes on fire with greater frequency. In a nutshell, ADT presumes higher risk customers will use more services. Thus, they should charge more.
Whether there is any correlation whatsoever between credit rating and use of security services, I'm not one to say.
IMPORTANT INFORMATION: All FICO® Score products made available on myFICO.com include a FICO® Score 8, along with additional FICO® Score versions based on Experian or Equifax data (additional FICO® Score versions based on TransUnion data are not currently available on myFICO.com). 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.