11-23-2012 11:59 AM - edited 11-23-2012 12:00 PM
I am pretty sure they do for the first time you sign up for it, so the INQ would show up, but I don't think they report an account to the bureaus.. I am sure someone who has experienced it will chime in soon!
11-23-2012 12:24 PM
They certainly have the option, regardless of whether you provide last 4 digits, as a business transaction inititated by a consumer that gives rise to some legitimate business purpose on their part to review your credit is a permissible purpose under FCRA 604. Allowing delayed billing is certainly a legitimate reason to review your future ability to pay.
An SSN is not required to pull a consumer CR, provided they have sufficient identifying information to match their inquiry to a specific consumer file.
Full name and current address is usually sufficient.
Will they? A lot depends upon how regularly they make inquiries, as there is a fee and admin time on their part. If they do it regularly for other purposes, it's easy to slip those additional types in.
11-24-2012 01:03 AM
Thanks.. I won't waste an INQ hit for something I might not get approve for. Saving up for a secured credit card. Thank you!
Yes, the will do a hard inq, Webbank is the name of the company that runs Bill Me Later..
Bill Me Later also does not report to the CRAs unless you go negative.. it is not worth the hard pull from a credit scoring perspective, but they do work at 1000 retailers and offer generous limits, not OUTRAGOUS interest, and lots of 6 month same as cash type programs..
I use it, and enjoy it, esp with the same as cash. And I have a limit of 4951 dollars. Yes.. 4-9-5-1. lol
11-24-2012 05:19 AM
Thanks Scott. I think I will try for a secured credit. I need a positive on my credit reporting.
100 percent agree with this.. Bill Me Later will not help your credit at all
11-24-2012 09:29 AM
Not a bad account to have but like said before, will not benefit as a positive TL or factor in for util.
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.