PSECU Membership

[Anonymous]

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@RobertEG wrote:

Whether any credit inquiry is recorded as a so-called "hard" or "soft" pull is totally unregulated, except for promotional inquiries, and those you make for your own CR.

If you request a business transaction or the extension of credit, they have a permissible purpose to pull your entire CR.

How they code it is up to them.

When I opened my current CU account a few years ago, it was recorded as a hard-pull.  They also did a hard pull when I later applied for a CC through them.

Quite frankly, I doubt that most CU data entry clerks even know the difference.

if you authorize a family member to join your CU, any credit reporting to that family members credit file is totally separate from yours.

So, no, reporting by the CU to family member's credit file wont be entered into your credit file.

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When you apply not as a relative but as a household member, obviously you need to use the same address as your sponsor.  Otherwise you cannot be in their household.

So, if I say I am someone's roommate and apply for PSECU membership, when they pull my credit report that will automatically update my address or at least give me an additional address.

[RobertEG]

When the family member applies, they are dealing separately with the CU in establishing their own account information, which includes name, SSN, address, etc.

It is up to the CU to determine whether the address must match the address of the family "sponsor" in their account review process.

Then, if the CU opens an account with the family member and reports that to a CRA  as a new report to the file of the new account, I see absolutly no reason or authortity to make any reporting, whatsoever, the the "sponsor's" credit file.

[Anonymous]

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@RobertEG wrote:

When the family member applies, they are dealing separately with the CU in establishing their own account information, which includes name, SSN, address, etc.

It is up to the CU to determine whether the address must match the address of the family "sponsor" in their account review process.

Then, if the CU opens an account with the family member and reports that to a CRA  as a new report to the file of the new account, I see absolutly no reason or authortity to make any reporting, whatsoever, the the "sponsor's" credit file.

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With a relative, yes, because the CU has no requirement that the relative live with you.

However, as a simple household member, you cannot, by definition, be a household member of you do not all live at the same address.  If the sponsor lives at 111 Main Street and I, as an unrelated household member, say I live at 333 Maple Avenue, then by definition I am obviously not a household member.  So, I need to apply using the sponsor's address.  In that case when the Cu checks my credit report and reports the new address, that should either add an additional address to my credit report or update my real address -- both of which I would not want to happen. 

[daisyduke]

Update - Even though PSECU did a soft inquiry for me, my membership was taking a very long time, so I called to follow up on the delay (my co worker got his debit card in the mail quicker than I got anything from them!!) - they were not able to process my membership application with frozen EX so I was told to UNFREEZE!! Since i'm not one to post inaccurate  information, I thought an update on this topic was appropriate for the future readers of this post....

[Anonymous]

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@daisyduke wrote:

Update - Even though PSECU did a soft inquiry for me, my membership was taking a very long time, so I called to follow up on the delay (my co worker got his debit card in the mail quicker than I got anything from them!!) - they were not able to process my membership application with frozen EX so I was told to UNFREEZE!! Since i'm not one to post inaccurate  information, I thought an update on this topic was appropriate for the future readers of this post....

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Sorry to hear that.

What really sucks is that it costs $10 to unfreeze EX.  At least EQ and TU you can do it for fee if you have their credit monitoring service.  But EX?  Nooooooo ... they gotta leech $10 out of ya. 

[Anonymous]

sorry to hear that...

As a PSECU member, I have to say it is great! I think it may be worthwhile to dish out the ten bucks and unfreeze EX. The free FICO EX score is amazing.