topic Re: Soft Inquiries - What do they see? in Understanding FICO® Scoring

Soft Inquiries - What do they see?

Anonymous — Wed, 09 Apr 2008 19:04:50 GMT

What exactly do the OC's see when they perform a soft inquiry? Just the score and nothing else? It is not the complete report, I know, but what do they actually say?

Re: Soft Inquiries - What do they see?

Anonymous — Wed, 09 Apr 2008 21:17:01 GMT

Excellent question Boscoe! I'd like to know too. I assume it's a lot more than just the score, but I'm really curious.

Re: Soft Inquiries - What do they see?

nicemann — Wed, 09 Apr 2008 23:10:18 GMT

I have always wondered the same thing. One of those great mysteries.

Re: Soft Inquiries - What do they see?

Anonymous — Thu, 10 Apr 2008 01:12:01 GMT

Except for promotional INQ's - They can see/get EVERYTHING

They can however display this data in a different ways- or not at all

they can get scores, they can choose (sometimes must) get just name, address and phone numbers.

Re: Soft Inquiries - What do they see?

Anonymous — Thu, 10 Apr 2008 02:11:22 GMT

So the answer is.....soft inquiriers can see everything that hard INQ do?

-Hards can see everything.

-Timothy just said that Promo Inqs can see everything

-Acct Review Inq must be able to see everything.

What else is there? So what is the hard vs. soft difference?

Message Edited by Boscoe on 04-09-2008 07:11 PM

Re: Soft Inquiries - What do they see?

Anonymous — Thu, 10 Apr 2008 02:17:30 GMT

Boscoe wrote:

So the answer is.....soft inquiriers can see everything that hard INQ do?

-Hards can see everything.

-Timothy just said that Promo Inqs can see everything

-Acct Review Inq must be able to see everything.

What else is there? So what is the hard vs. soft difference?

Timothy said that they can see anything EXCEPT for promo INQs.

Yes, account reviews can see everything, and hard inquiries can see everything. Promo inquiries just get name and address only, and perhaps a score, but no specific TL information.

Re: Soft Inquiries - What do they see?

Anonymous — Thu, 10 Apr 2008 02:20:28 GMT

I said EXCEPT promos

Boscoe wrote:

So the answer is.....soft inquiriers can see everything that hard INQ do?

-Hards can see everything.

-Timothy just said that Promo Inqs can see everything

-Acct Review Inq must be able to see everything.

What else is there? So what is the hard vs. soft difference?

Message Edited by Boscoe on 04-09-2008 07:11 PM

Re: Soft Inquiries - What do they see?

Anonymous — Thu, 10 Apr 2008 03:27:12 GMT

Thanks Timothy! And thanks for verifying cheddar.

Re: Soft Inquiries - What do they see?

RobertEG — Thu, 10 Apr 2008 04:21:42 GMT

When a creditor makes an inquiry, they are attempting to pull as much of your credit history as they are entitled to, not just your score. Soft inquiries that are not authorized by you for the purpose of seeking new credit do NOT give them your full credit report. For example, an inquiry made by one seeking to offer you new credit is coded as a PRM inquiry, and only gives them your name and address, not your full credit report.

Re: Soft Inquiries - What do they see?

Anonymous — Thu, 10 Apr 2008 04:37:06 GMT

PRM=Promotional

RobertEG wrote:

When a creditor makes an inquiry, they are attempting to pull as much of your credit history as they are entitled to, not just your score. Soft inquiries that are not authorized by you for the purpose of seeking new credit do NOT give them your full credit report. For example, an inquiry made by one seeking to offer you new credit is coded as a PRM inquiry, and only gives them your name and address, not your full credit report.

Re: Soft Inquiries - What do they see?

Anonymous — Thu, 10 Apr 2008 18:39:17 GMT

Ok thanks Timothy and RobertEG. I did not fully comprehend Timothy's response at first, but do now.

The PRM Inquiries must get more than just name and address. How do they know if you are a customer they even want? Must get a score too and can see public records. CrapOne used to send me promo letters right after my discharge saying "we know you have moved beyond bankruptcy......". How could they know that unless the CR told them so?

Re: Soft Inquiries - What do they see?

Anonymous — Thu, 10 Apr 2008 19:08:06 GMT

Boscoe wrote:

How do they know if you are a customer they even want?

They request records from the CRAs for consumers that have certain characteristics in their files, even though they don't get to see all the specific information themselves. The CRAs apply their own logic to select only records that meet those criteria from their databases.

Re: Soft Inquiries - What do they see?

RobertEG — Sat, 12 Apr 2008 02:08:32 GMT

PRM inquiries are controlled under the FCRA as follows:

"(c) Furnishing reports in connection with credit or insurance transactions that are not

initiated by the consumer.

(1) In general. A consumer reporting agency may furnish a consumer report relating to

any consumer pursuant to subparagraph (A) or (C) of subsection (a)(3) in connection

with any credit or insurance transaction that is not initiated by the consumer only if

(A) the consumer authorizes the agency to provide such report to such person; or

(B) (i) the transaction consists of a firm offer of credit or insurance;

(ii) the consumer reporting agency has complied with subsection (e); and

(iii) there is not in effect an election by the consumer, made in accordance with

subsection (e), to have the consumer's name and address excluded from

lists of names provided by the agency pursuant to this paragraph.

(2) Limits on information received under paragraph (1)(B). A person may receive

pursuant to paragraph (1)(B) only

(A) the name and address of a consumer;

(B) an identifier that is not unique to the consumer and that is used by the person

solely for the purpose of verifying the identity of the consumer; and

relationship or experience of the consumer with respect to a particular creditor

or other entity.

(3) Information regarding inquiries. Except as provided in section 609(a)(5) [§1681g], a

consumer reporting agency shall not furnish to any person a record of inquiries in

connection with a credit or insurance transaction that is not initiated by a consumer."