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Regular Contributor
Posts: 190
Registered: ‎08-12-2012
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WHAT ARE HARD & SOFT PULL????

HEY GUYS I NEED HELP IVE BEEN TRYING TO FIGURE OUT WHAT ARE HARD PULLS AND SOFT PULLS AND CANT FIGURE IT OUT IF YOU KNOW THIS ANSWER PLEASE TELL ME I'M DRIVING MYSELF CRAZY...THIS IS AN IDEA OF HOW YOU CAN LET ME KN,, (1) ...HARD THANK YOU SO MUCH FOR READING

 

 

(1) DIRECTV.....02/11/11---TV,,,,,,,,DENIED

(2) SPRINGLEAF FIN SRVCS......05/09/11---LOAN,,,,,DENIED

(3) CHASE BANK USA N.A........05/12/11----CC,,,,,DENIED

(4) WEBBANK/BML............. 07/03/11, 05/31/12----BILL ME LATER,,,,DENIED BOTH

(5) CAPITAL ONE BANK USA..... 05/19/11, 02/05/12----APPROVED

(6) CREDCO::2728843661.....10/24/11,,,,???

(7) GREEN CAP FINANCIAL.....10/24/11-----LOAN,,,,DENIED

(8) NORTH STATE ACCEPTANCE .....10/24/11---LOAN,,,DENIED

(9) BANK OF AWERICA...02/20/12...ACCOUNT--APPROVED

(10) AMERICAN EXPRESS TRS...02/25/12----CC,,,,DENIED

(11) CAPITAL ONE...08/12/12---LOAN,,,DENIED

(12) CREDIT UNION ......08/14/12---LOAN,,,,APPROVED

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Re: WHAT ARE HARD & SOFT PULL????

[ Edited ]

 

If you are applying for credit, which most of the pulls you listed appear to be, then they are almost guaranteed to be a hard pull.

 

Direct TV may also be a hard pull, others have reported that they do a HP.

 

You would have to look at each of your credit reports ( EX, EQ, and TU ) to see the inquiries, they'll either be listed as pulls that affect your score ( Hard pulls ) or pulls that do not affect your score ( soft pulls ).

March2010 FICO® ~ 695 TU, 653 EQ, 697 EX
Regular Contributor
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Re: WHAT ARE HARD & SOFT PULL????

THANK YOU...BUT I JUST FOUND OUT THAT ALL OF THE LIST ABOVE ARE HARD PULL FROM EQUIFAX,,,THIS IS JUST WONDERFUL :smileymad:ON TOP OF THAT I KN DAMN WELL ILL BE ADDING 2 MORE ONE FROM BANK OF AMERICA FOR REBUILT CC & GETTING A TRUCK IN MARCH 2013" WITH 10,000 DOWN AFTER THAT IM NOT PUTTING ANYMORE INQIRIES ON MY CREDIT SO TOTAL 3 OPEN ACCOUNTS SO BY 2015 I SHOULD BE IN CLEAR...:manfrustrated: LOOOONG WAIT SMH 

As of 9/13"
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Re: WHAT ARE HARD & SOFT PULL????

In my opinion, a question that is shrouded in so much mystery that it is unanswerable.

 

Other than the restriction on what a party may obtain for a purely promotional offer for credit (i.e., only your name and address), the FCRA does not deal with the issue of so-called "hard" or "soft" inquiries.  Those are credit inquiry codes established by the CRAs, and are unregulated.

The FCRA deals with inquiries only as to whether they have a permissible purpose, and if so, they get your entire credit report.  If a party has a permissible purpose, it can be requested in a way that permits it to be included in your CR (i.e., a so-called "hard inquiry").

 

Thus enters the mystery.  If a creditor has a permissible purpose, how do they make an inquiry that instructs the CRA not to include that inquiry in your CR (i.e., a so-called "soft" inquiry).  Certain types of inquiries, such as internal account reviews and a consumer pull of their own CR, have well established codes for identifying them as such, and thus preventing CR inclusion. 

 

However, if a creditor makes an inquiry for a consumer-initiated request for new credit, how does the party get that coded in a way that prevents its inclusion in the consumer's credit report? 

Are their reporting codes that read "permissibe inquiry for new credit, but block it from the consumer's credit report?"

Or must they report a fictitious reason in order to code it as a "soft" inquiry?

I have no idea of the process that brings that about.

Valued Contributor
Posts: 2,266
Registered: ‎07-23-2012
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Re: WHAT ARE HARD & SOFT PULL????


JBEACH wrote:

THANK YOU...BUT I JUST FOUND OUT THAT ALL OF THE LIST ABOVE ARE HARD PULL FROM EQUIFAX,,,THIS IS JUST WONDERFUL :smileymad:ON TOP OF THAT I KN DAMN WELL ILL BE ADDING 2 MORE ONE FROM BANK OF AMERICA FOR REBUILT CC & GETTING A TRUCK IN MARCH 2013" WITH 10,000 DOWN AFTER THAT IM NOT PUTTING ANYMORE INQIRIES ON MY CREDIT SO TOTAL 3 OPEN ACCOUNTS SO BY 2015 I SHOULD BE IN CLEAR...:manfrustrated: LOOOONG WAIT SMH 


(6) CREDCO::2728843661.....10/24/11,,,,???

(7) GREEN CAP FINANCIAL.....10/24/11-----LOAN,,,,DENIED

(8) NORTH STATE ACCEPTANCE .....10/24/11---LOAN,,,DENIED

(9) BANK OF AWERICA...02/20/12...ACCOUNT--APPROVED

(10) AMERICAN EXPRESS TRS...02/25/12----CC,,,,DENIED

(11) CAPITAL ONE...08/12/12---LOAN,,,DENIED

(12) CREDIT UNION ......08/14/12---LOAN,,,,APPROVED

 

these are what you should be concerned with. 

any inquriy that is over one year old does not take affect to your fico score. 

and after 2 years the inquriy falls off your reports. 

 

if thats just one im afraid to ask what your other two reports look like. 

 

Current: Discover Fico 701 3/15 Walmart Fico 684 1/15

Inquiries (24 Months): EQ 5 TU 1 EX 1 | Most Recent: 03/23/2015
Over 12 Months:6


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Regular Contributor
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Re: WHAT ARE HARD & SOFT PULL????

On my Experian I only have 1 hard pull and im not sure about TransU cause i cancel that aweek ago, most of the hard pulled are in Equifax +__+...I do kn that when I apply for the last one CREDIT UNION it did drop my score alittle but i havent paid for the FICO score yet

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Regular Contributor
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Re: WHAT ARE HARD & SOFT PULL????

[ Edited ]

4 was pulled on TransU... I was able to check after Sep 14th cant check nomore with TransU....

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Re: WHAT ARE HARD & SOFT PULL????

I have a total of 59 Soft Pulls from Transunion and Experian.  Is the biz that pulled my CR's 59 x's in violation of the FCRA that many times?  Yes, I know a Soft Pull is only seen by me but the fact that they didn't have my Permission or Purpose bothers me as to why they kept pulling my CR's.  I also contacted them earlier in the year to let them know and it took up until Aug. to finally get this stopped via their VP.  But, the inquiries are still there!

 

Should I finally Sue them?!  Back on 2/7/2012 I did apply for a 14 day FREE Trial to a Credit Monitoring Service but 3 days later, 2/10/2013 I decided to Cancel.  They also have this on their records...  But, since that time, they have been pulling my CR's 59 x's. Becuase I took away consent and there was no reason for these pulls, I would think they would still be in violation.  The fact that I also contacted them earlier in the year and the Pulls still kept coming is what bothers me the most.  

 

And, when their VP finally stopped these pulls from happening, why are the inquiries still there?  She admitted it was a system glitch but my issue is why didn't they take care of this from when I first contacted them.  

 

I am asking this ? because I read somewhere on another Forum and on a Webinar that Soft Pulls are not much difference vs. Hard Pulls.  They still need Permissible Purpose and Permission.  Please verify so I know what my next steps are.  I've already sent this biz a Letter of Intent to Sue and Summons and Complaint and all this VP did was apologize but no offer for Settlement which I requested...

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Re: WHAT ARE HARD & SOFT PULL????


hawnbiz wrote:

I have a total of 59 Soft Pulls from Transunion and Experian.  Is the biz that pulled my CR's 59 x's in violation of the FCRA that many times?  Yes, I know a Soft Pull is only seen by me but the fact that they didn't have my Permission or Purpose bothers me as to why they kept pulling my CR's.  I also contacted them earlier in the year to let them know and it took up until Aug. to finally get this stopped via their VP.  But, the inquiries are still there!

 

Should I finally Sue them?!  Back on 2/7/2012 I did apply for a 14 day FREE Trial to a Credit Monitoring Service but 3 days later, 2/10/2013 I decided to Cancel.  They also have this on their records...  But, since that time, they have been pulling my CR's 59 x's. Becuase I took away consent and there was no reason for these pulls, I would think they would still be in violation.  The fact that I also contacted them earlier in the year and the Pulls still kept coming is what bothers me the most.  

 

And, when their VP finally stopped these pulls from happening, why are the inquiries still there?  She admitted it was a system glitch but my issue is why didn't they take care of this from when I first contacted them.  

 

I am asking this ? because I read somewhere on another Forum and on a Webinar that Soft Pulls are not much difference vs. Hard Pulls.  They still need Permissible Purpose and Permission.  Please verify so I know what my next steps are.  I've already sent this biz a Letter of Intent to Sue and Summons and Complaint and all this VP did was apologize but no offer for Settlement which I requested...


There is a huge difference between softs and hards. Softs only stay a year if I recall. Hard inquiries for two years. Softs are never scored by FICO (or any other credit scoring system) or seen by creditors. Hard inquiries are scored by FICO and seen by creditors. 

 

I suppose you can sue if they never had permissible purpose, but you'd have to sue for specific monetary damages (and prove that in court) and there wouldn't be any other than the cost to sue. I'd personally would let it go if they stopped. Also read the T&C of your agreement with that CMS. You might be limited to arbitration and/or a specific court venue. Not sure how the FCRA addresses this though.

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Re: WHAT ARE HARD & SOFT PULL????

 
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