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Moderator Emeritus
Posts: 16,385
Registered: ‎03-12-2007
0

Re: checking accounts



MidnightVoice wrote:


casinoannie97 wrote:
i couldn't believe my bank gave me a hard since i already had an account and had to change state because of their errors. i think the cra thinks it was a loan of some kind. does anyone know?
 


The CRA thinks an inq is an inq.  Adding a cell phone line, switching to cable TV, opening a new bank account, getting utilities hooked up, are all "seeking for credit" to a CRA and FICO


Oh! Utilities are an extension of credit but how can opening a savings account or a checking account without applying for overdraft protection be construed as applying for new credit. Afterall, when I open these accounts they are borrowing my money, where is the PP for a bank to hard me? It's ridiculous! Geez why can't I pull the bank's credit and judge for myself if they are creditworthy and won't close their doors one day and run away with my money! Ya know default!
Credit Profile - FICO 08 Scores (03-26-2015): EQ 814, EX 817, TU 822
All three scores were 850. Lost points for not having an open installment TL. So, BE WARNED!!!!!
Credit History: 27 years ~ AAoA: 13 years ~ Util: 1% ~ Inqs: TU 1


Credit Cards: Amex BCP ~ Amex Clear ~ Amex Platinum ~ Barclay Ring World Mastercard ~ Chase Freedom Signature Visa ~ CITI Dividend World Mastercard ~ FIA Fidelity Investment Platinum Visa ~ First Hawaiian Bank Gold Visa
Super Contributor
Posts: 8,197
Registered: ‎03-25-2007
0

Re: checking accounts



fused111 wrote:

Oh! Utilities are an extension of credit but how can opening a savings account or a checking account without applying for overdraft protection be construed as applying for new credit. Afterall, when I open these accounts they are borrowing my money, where is the PP for a bank to hard me? It's ridiculous! Geez why can't I pull the bank's credit and judge for myself if they are creditworthy and won't close their doors one day and run away with my money! Ya know default!


I agree.  But unfortunately the law is the law.  Damned PP   Smiley Very Happy
The slide from grace is really more like gliding
And I've found the trick is not to stop the sliding
But to find a graceful way of staying slid
Valued Contributor
Posts: 1,986
Registered: ‎08-17-2007
0

Re: checking accounts utilities, etc.

I have cingular (now AT&T).  They did not pull hard.  These people are driving me crazy.  They do not do anything you expect them to do.  I had SBC, AT&T, Direct TV, Comcast and no hards.
 
Super Contributor
Posts: 8,197
Registered: ‎03-25-2007
0

Re: checking accounts utilities, etc.



casinoannie97 wrote:
I have cingular (now AT&T). 


That is interesting.  They pulled a hard when I got a line, and again when I added a second one 6 months later.
 
They are now both over 12 months old  Smiley Very Happy
The slide from grace is really more like gliding
And I've found the trick is not to stop the sliding
But to find a graceful way of staying slid
Moderator Emeritus
Posts: 16,385
Registered: ‎03-12-2007
0

Re: checking accounts



MidnightVoice wrote:


fused111 wrote:

Oh! Utilities are an extension of credit but how can opening a savings account or a checking account without applying for overdraft protection be construed as applying for new credit. Afterall, when I open these accounts they are borrowing my money, where is the PP for a bank to hard me? It's ridiculous! Geez why can't I pull the bank's credit and judge for myself if they are creditworthy and won't close their doors one day and run away with my money! Ya know default!


I agree.  But unfortunately the law is the law.  Damned PP   Smiley Very Happy


I'm not so certain this is the law perhaps we're assuming it is when it really isn't. If had the time I would investigate this.
Credit Profile - FICO 08 Scores (03-26-2015): EQ 814, EX 817, TU 822
All three scores were 850. Lost points for not having an open installment TL. So, BE WARNED!!!!!
Credit History: 27 years ~ AAoA: 13 years ~ Util: 1% ~ Inqs: TU 1


Credit Cards: Amex BCP ~ Amex Clear ~ Amex Platinum ~ Barclay Ring World Mastercard ~ Chase Freedom Signature Visa ~ CITI Dividend World Mastercard ~ FIA Fidelity Investment Platinum Visa ~ First Hawaiian Bank Gold Visa
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