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For example, I applied for a FNBO card and was denied. They gave me an offer to go secured, so i chose that saving star AMEX card. I thought sure why not, I dont need a secured card, but another AMEX number is good for twitter offers, and then id have a relationship with them. Another hard pull and denied again. Is this a letter only thing, or can I call the underwriting and ask them for repeal of at least one inqury because i didnt even get any credit extended with them at all?
If both pulls were the same day, yeah you might call them and see if they can rescind the second pull as a mistake. Argue that since the Secured was offered on the first app denial, it should have used that HP, and not pulled a second time.
they were not the same day, as i was trying to build funds above their min. 300 to open an account. I did use their email link in denial letter, counts for something.
Oh I got nowhere with them after 10 minute phone call. They said 2 different products, two different hard pulls end of story. Letter time.
I would not bother with it further. Inquiries are just not that big of a deal.
There is really no way, at least from the point of view of the CRAs, to "rescind" an inquiry.
Once the CRA has sent a copy of your credit report, the cat is out of the proverbial bag, and cannot be undone.
The CRAs must retain a formal record of their having sent the report, so they are not going to "delete." They consider that their having filled a request for a credit report becomes a fact that cannot be undone.
The appropriate procedure would be for the consumer to request that the creditor have their inquiry recoded from a hard to a soft pull.
A soft pull is one that is only viewable by the named consumer, and thus cannot be shown in any credit report provided to any other party, or included in your credit scoring.
The FCRA does not place any restrictions on a creditor that limits them to a single pull once they have permissible purpose.
If a creditor makes multiple pulls under the same permissible purpose, recourse would be informal complaints to their management, or a complaint to your local BBB, asserting a poor business practice that is hurting your credit score. There is no basis for a dispute or a formal complaint to the CFPB for non-compliance with any provision of the FCRA.
I agree that inquries dont drag a score down but they can trash a manual review when coupled with the other factors. If you have 5 new accounts, expect 5 inquries (same bureau) I dont like 8 new accounts 12 inquries, and so on, as it shows someone's saying no, escpecially if its a entity you do not have an account with. A HP from chase makes sense if you have cards and loans with them. Two from a bank you dont have a new account with = yucky for lack of better word.
thank you, I plan to try and get a sp out of it at least, makes sense