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New Contributor
I_SUFFER_FROM_FICO_ENVY
Posts: 74
Registered: ‎04-03-2012
0

What's the point of a SOFT PULL if..........

....they cant grant a CLI?

 

Every 3 months, I have CC companies doing a SOFT PULL on my reports.  Yet, if I requsst a CLI, Im told they need to do a HARD PULL.

 

So what information do they gather in a SOFT PULL?  And, if it doesnt give them a recent snapshot of my credit profile, then WHY PRAY TELL do it?????

Moderator
guiness56
Posts: 22,406
Registered: ‎01-17-2008
0

Re: What's the point of a SOFT PULL if..........

A soft inquiry from an existing creditor for AR (Account Review) sees everything except other soft inquiries. That information is scorable.

 

A soft inquiry for promotional purposes is different. They don't normally look at a report. They simply pay the CRA to give them a file with names and addresses of potential customers that meet their set of requirements. It may have some additional info.

New Contributor
I_SUFFER_FROM_FICO_ENVY
Posts: 74
Registered: ‎04-03-2012
0

Re: What's the point of a SOFT PULL if..........

That makes no sense.  If they do a SOFT PULL (Under AR), then why cant they use that for a CLI?

 

Thats my point?  Why "review" my file?

Moderator
guiness56
Posts: 22,406
Registered: ‎01-17-2008
0

Re: What's the point of a SOFT PULL if..........

[ Edited ]

Technically they can.  It would be their choice for a HP.

 

Some use a SP,  some a HP.

 

There are different codes for HP and if they actually extend credit, such as a CLI, they are probably using that code.

 

 

New Visitor
bradlin
Posts: 2
Registered: ‎11-10-2013
0

Re: What's the point of a SOFT PULL if..........

This is why:

 

"Hello, we need to let all of our banker buddies know that you requested more credit from us." 

Valued Contributor
AndySoCal
Posts: 1,944
Registered: ‎04-07-2009
0

Re: What's the point of a SOFT PULL if..........

A  hard pull is for the pursuit of new credit like a CLI and soft pull is for credit pulls that are for the pursuit of new credit like an account review or a consumer pulling their own credit report.

Equifax My FICO score 815 5/28/2012, 818 on 7/28/2014 . Average of Accounts 12 years and no Installment accounts. MyFICO TU 810 6/26/2012 809 4/21/2013 MyFICO XPN -805. 2/26/2014 Discover TU FICO 813 App free since 9/2011
Frequent Contributor
buildafico
Posts: 337
Registered: ‎09-23-2013
0

Re: What's the point of a SOFT PULL if..........

maybe they're not viewing reports for CLIs, maybe they're reviewing for changes. Especially new customers.

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