topic Re: soft inquiries without consent in Credit Cards

soft inquiries without consent

Anonymous — Wed, 25 Dec 2013 20:12:29 GMT

Sometimes under my soft inquiry list I see my credit card companies are checking my credit report, this is without me applying for more credit or even contacting them about anything. Is this normal? Why is it done?

Re: soft inquiries without consent

coldnmn — Wed, 25 Dec 2013 20:17:46 GMT

Yes they are just checking your financial health no creditors see soft pulls.

Re: soft inquiries without consent

Kenny — Wed, 25 Dec 2013 20:32:20 GMT

What about Intersections? Does anyone know who that is? I googled it and it looks like an identity risk management firm. Has some company hired it to look in on me or am I being paranoid? lol

Re: soft inquiries without consent

chadwick — Wed, 25 Dec 2013 20:41:13 GMT

Intersections = identityguard.com

Re: soft inquiries without consent

Anonymous — Wed, 25 Dec 2013 20:41:31 GMT

Coldnmn does them checking usually mean something adverse ie do they only check if they think your score is deteriorating or is it normal to do with all cc holders regardless.

Re: soft inquiries without consent

irrational — Wed, 25 Dec 2013 20:44:45 GMT

@Anonymous wrote:
Coldnmn does them checking usually mean something adverse ie do they only check if they think your score is deteriorating or is it normal to do with all cc holders regardless.

From what I understand it's just something they do regardless. Their marketing teams use them to send out pre-approval, and their risk teams monitor for changes in your risk profile. Pretty sure any CCC that auto CLIs is probably also pulling regular SP.

Re: soft inquiries without consent

Anonymous — Wed, 25 Dec 2013 20:55:03 GMT

@Anonymous wrote:
Coldnmn does them checking usually mean something adverse ie do they only check if they think your score is deteriorating or is it normal to do with all cc holders regardless.

No, they check routinely, which is how they would determine that your score is deteriorating! Often, issuers will check more frequently at the beginning of the relationship, and then at longer intervals, but this can vary. It is absolutely routine, so don't be alarmed. You may also see some types of SP from companies you have no relationship with.

Re: soft inquiries without consent

coldnmn — Wed, 25 Dec 2013 20:48:44 GMT

@Anonymous wrote:
Coldnmn does them checking usually mean something adverse ie do they only check if they think your score is deteriorating or is it normal to do with all cc holders regardless.

No they all do it. They do it for auto CLI as well.

Re: soft inquiries without consent

Anonymous — Wed, 25 Dec 2013 21:05:39 GMT

Citi does SPs on my wife every month, and she has never had credit with them. She's not an AU for any of my Citi cards either.

Re: soft inquiries without consent

Kenny — Wed, 25 Dec 2013 21:47:10 GMT

@chadwick wrote:
Intersections = identityguard.com

I've never used it though. lol it's weird to me.

Re: soft inquiries without consent

09Lexie — Wed, 25 Dec 2013 21:49:23 GMT

@Anonymous wrote:
Sometimes under my soft inquiry list I see my credit card companies are checking my credit report, this is without me applying for more credit or even contacting them about anything. Is this normal? Why is it done?

If you have opted in to receive offers from credit cards, pre-quals etc, they will sp your CR's to match offers.

Re: soft inquiries without consent

Anonymous — Wed, 25 Dec 2013 21:55:55 GMT

@KennyS2006 wrote:
@chadwick wrote:
Intersections = identityguard.com
I've never used it though. lol it's weird to me.

I see it on my report a lot also.. I suspect it's something Capital One uses either for their creditinform or something else. I don't recall why Cap One sticks in my head for that, but I swear I looked into it once myself, or saw it spelled out on my credit report.

Re: soft inquiries without consent

Anonymous — Wed, 25 Dec 2013 21:56:54 GMT

@Anonymous wrote:
Citi does SPs on my wife every month, and she has never had credit with them. She's not an AU for any of my Citi cards either.

It could be that they are checking into her profile with the idea of extending her credit if she meets certain pre-requisites.

Re: soft inquiries without consent

lg8302ch — Wed, 25 Dec 2013 21:59:35 GMT

@KennyS2006 wrote:
@chadwick wrote:
Intersections = identityguard.com
I've never used it though. lol it's weird to me.

Assume it is not only identityguard.com but other monitoring services as well. I have tons of Intersections too and do not use identityguard either. Looking at the dates it looks like my own pulls..