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Moderator Emeritus
fused
Posts: 16,376
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 (09-16-2014): EQ 824, EX 817, TU 822
All three scores were 850. Lost points for not having an open installment TL. So, BE WARNED!!!!!
Credit History: 26+ years ~ AAoA: 12 years ~ Util: 1% ~ Inqs: EX 1 (Amex 07-15-2014)

Super Contributor
MidnightVoice
Posts: 8,161
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   :smileyvery-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
casinoannie97
Posts: 1,989
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
MidnightVoice
Posts: 8,161
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  :smileyvery-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
fused
Posts: 16,376
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   :smileyvery-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 (09-16-2014): EQ 824, EX 817, TU 822
All three scores were 850. Lost points for not having an open installment TL. So, BE WARNED!!!!!
Credit History: 26+ years ~ AAoA: 12 years ~ Util: 1% ~ Inqs: EX 1 (Amex 07-15-2014)


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