topic NAV Credit Card Prequal, Hard Pull Tsunami? in Business Credit

NAV Credit Card Prequal, Hard Pull Tsunami?

spiritcraft1 — Mon, 30 Sep 2019 13:40:06 GMT

Nav seems to have some kind of prequal where they apparently send your info out to who knows how many Business credit card issuers. This reads as though it could be a tsunami of Hard Pulls. Any thoughts on this?

On the "credit cards" page in a banner advertising Amex business cards and seeing if you are prequalified. It goes on to say:

"Remove the guesswork from credit card applications and let the offers come to you. It takes 30 seconds and won't hurt your credit score."

Click through and you get to the following disclaimer:

"Terms

By clicking “Submit,” I authorize Nav to communicate the personal identifying and business information I have provided to one or more participating credit card issuers and I authorize such participating issuer(s) to communicate my personal identifying information to a consumer reporting agency and/or my business information to a business credit reporting agency. I authorize each participating credit card issuer and the consumer and/or business credit reporting agency that receives my personal identifying and business information from Nav to use my consumer and/or business credit report information, including my credit score, to determine if there are any previously matched Card offers available for me without pulling a new credit report, and if no offers are available, I authorize each participating credit card issuer to pull a new consumer and/or business credit report to determine if any card offers are available for me based on credit criteria established by the participating credit card issuer. A credit card issuer may use recent consumer and/or business credit report information about me to make this determination. I understand that this is not an application for credit and that, if I wish to apply for a credit card with any participating credit card issuer, I will need to click through and make application directly with that issuer. I also acknowledge that even if I receive an indication that I am pre-qualified (or a similar indication) for a particular credit card product and I apply for that product, there is no guarantee that I will be approved by the credit card issuer or that a card will be issued to me. When my personal identifying and business information is provided by Nav to a participating credit card issuer, I understand that my consumer and/or business credit report records may indicate that a credit card issuer has made a credit inquiry about me. I also understand that Nav does not retain any of my personal identifying and business information or my consumer and/or business report information, except as a record that I have elected to use this tool. I understand that Nav will not be able to tell me why I did or did not appear to qualify for any particular credit card product. When my personal identifying and business information is provided by a credit card issuer to a consumer and/or business credit reporting agency, I understand that my consumer and/or business credit report records will indicate that the credit card issuer has made a credit inquiry about me."

Re: NAV Credit Card Prequal, Hard Pull Tsunami?

jaxstraw — Mon, 30 Sep 2019 18:30:02 GMT

So this is assuming it would be a HP but the language doesn't exactly say that.

Those extra could be a SP also unless I'm missing something.

Either way I would never go through a second party site to apply for any credit product when it is just as easy to do it directly.

Re: NAV Credit Card Prequal, Hard Pull Tsunami?

spiritcraft1 — Mon, 30 Sep 2019 20:02:53 GMT

@jaxstraw wrote:
So this is assuming it would be a HP but the language doesn't exactly say that.
Those extra could be a SP also unless I'm missing something.
Either way I would never go through a second party site to apply for any credit product when it is just as easy to do it directly.

I imagine you are correct but the language is not explicit. No way I would take the risk or spread out info to who knows who. Info could be going to subprime sharks as well as AMEX who the banner talks about. The last thing I need is 20 more jive phone calls a day.

Re: NAV Credit Card Prequal, Hard Pull Tsunami?

Anonymous — Mon, 30 Sep 2019 20:05:49 GMT

Sounds like you are authorizing the "mother of all data gathering typhoons" to be unleased on your credit profile. Problem is they dont state who and how many. It could be 2 or 20. You could be getting offers from Credit One or Joe's Juke Joint Kinda Platinum Siggy. A lot of blind faith in the promo offer. You may want to be more strategic with this as its kinda the whole point and why we dig and scrape for DPs before making a move. I would take the"you first" approach with this one.

Re: NAV Credit Card Prequal, Hard Pull Tsunami?

spiritcraft1 — Mon, 30 Sep 2019 20:09:28 GMT

No kidding. I could not believe what I was reading. "you basically authorize us to send your info anywhere and they may pull your credit". They would be sending a SS if you hit submit.. that was already filled in when I clicked on the banner. I bet anything it would result in at least a couple personal HP's.

Re: NAV Credit Card Prequal, Hard Pull Tsunami?

Anonymous — Mon, 30 Sep 2019 20:11:07 GMT

What's kinda crazy is that they state "this inquiry won't hurt" but further down in the disclaimer it states "this may leave a mark that may not buff out"

Re: NAV Credit Card Prequal, Hard Pull Tsunami?

spiritcraft1 — Mon, 30 Sep 2019 20:13:22 GMT

@Anonymous wrote:
What's kinda crazy is that they state "this inquiry won't hurt" but further down in the disclaimer it states "this may leave a mark that may not buff out"

Like a bad car dealer kinda hurt