New Inquiry!! Devastated

[thross8512]

Good morning forum

Yesterday I tried to transfer my internet with ATT and the guy told me he needed my social to pull up my information to establish service at my new address. When I gave him the info he pulled up everything and this morning I see a new inquiry on my report!!!! I am pissed needless to say since I am closing this Friday! I'm not sure what I need to do! Someone please give me some advise. Should I tell my loan officer? Did this screw things up for me?

[StartingOver10]

Nothing for you to do. It will be fine. The inq will show as AT&T and it is perfectly normal. Nothing for you to worry about.

[thross8512]

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@StartingOver10 wrote:

Nothing for you to do. It will be fine. The inq will show as AT&T and it is perfectly normal. Nothing for you to worry about.

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Thanks! I felt like crying when I saw the alert.

[ezdriver]

It's not going to matter to your closing. Now you know that you will likely see an inquiry on your credit report anytime that you apply for credit .... yes, applying for utility services is applying for credit.

[pizzadude]

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@ezdriver wrote:

It's not going to matter to your closing. Now you know that you will likely see an inquiry on your credit report anytime that you apply for credit .... yes, applying for utility services is applying for credit.

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+1.  It's standard for many utilities ( phone, water, power...) to pull your CR as part of setting up your account for a new address.   Won't be a big deal.

[thross8512]

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@pizzadude wrote:

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@ezdriver wrote:

It's not going to matter to your closing. Now you know that you will likely see an inquiry on your credit report anytime that you apply for credit .... yes, applying for utility services is applying for credit.

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+1.  It's standard for many utilities ( phone, water, power...) to pull your CR as part of setting up your account for a new address.   Won't be a big deal.

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My loan officer said they would not pull my credit report again prior to closing before hand.  I am not sure and I won't be able to breathe until Friday and everything is signed and I have the keys.  

[ezdriver]

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@thross8512 wrote:

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@pizzadude wrote:

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@ezdriver wrote:

It's not going to matter to your closing. Now you know that you will likely see an inquiry on your credit report anytime that you apply for credit .... yes, applying for utility services is applying for credit.

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+1.  It's standard for many utilities ( phone, water, power...) to pull your CR as part of setting up your account for a new address.   Won't be a big deal.

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My loan officer said they would not pull my credit report again prior to closing before hand.  I am not sure and I won't be able to breathe until Friday and everything is signed and I have the keys.  

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There are different typ of inquiries [hard and soft]. It is common for mortgors to perform a credit inquiry just before closing to ensure that your credit profile has not changed substantially. The LO may say one thing but the underwriter or closing department may request it anyway.

[HucksMomma]

We close on our refi today, Last week my husband lost his Cap one card and when he called to get it replaced they did an inquiry.... My loan officer was notified a couple days later that a new inquiry popped up and she called and asked what it was for. We explained the situation and we had to sign a form just saying what the inquiry was for and no new credit was obtained...... I was highly upset that CAP one did an inquiry to replace a lost card....

[thross8512]

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@HucksMomma wrote:

We close on our refi today, Last week my husband lost his Cap one card and when he called to get it replaced they did an inquiry.... My loan officer was notified a couple days later that a new inquiry popped up and she called and asked what it was for. We explained the situation and we had to sign a form just saying what the inquiry was for and no new credit was obtained...... I was highly upset that CAP one did an inquiry to replace a lost card....

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I alerted my LO last night and he told me not to worry and that it should not be a big deal.  Also, I spoke with ATT this morning and they have faxed over a letter to Equifax to have the inquiry removed because it should not have happened at all.  I see now a hard inquiry as well as a soft.  Equifax told me they would remove 24-48 hours after receiving the letter from the creditor.  They also sent me a letter so if my LO asks for documentation I have that as well.  So I am holding my breath.  

[Anonymous]

Usually right before closing the lender does a "refresh"  to see if any other inquires.. all you would have to do is right a letter for what the inquiry was and it will be fixed just like that.  Also note that no new credit has been obtained if that is the case.  They make sure that you dont buy a bunch of things and have new monthly payments before you close on your loan.