Re: Comcast Hard Pull!! What the??
10-27-2012 02:34 PM
While credit report inquiries are frustrating, FICO recognizes the very short term value of their ability to predict payment risk, and discontinues their scoring after one year.
While the CRA policy is to retain them for up to two years, thus making them viewable to others, I would suspect that others also assume that an inquiry of over a year prior is of little concern. So impacts are usually not so serious as to result in serious hair-pulling.
As for coding, it is unfortunate that a party will report hard when promising soft, but very difficult to contest if they do.
So-called hard and soft inquiries are administrative conconctions of the CRAs, and are not regulated under the FCRA except for promotional offers for credit that were not initiated by the consumer. Disputes over inquiries of any nature must show actual lack of permissible purpose, and are not disputable under the FCRA based on coding.
And all disputes relating to inquiries in any form are specifically excluded from the direct dispute process, so must be made through the party that granted the inquiry...the CRA. Tough one to crack, if the party provided a permissible purpose.
As for permissible purpose, it need not be based on extension of credit. FCRA 604 grants, as permissible purpose without prior consumer consent, pull of your credit report as long as they have a "legitimate business purpose" associated with a consumer-initiated business transaction.