topic Re: Loan company pulled Experian twice! in General Credit Topics

Loan company pulled Experian twice!

aftermath — Tue, 16 Sep 2008 18:34:10 GMT

Hi,

I applied for a personal loan and they ended up pulling my Experian twice. It shows up as 2 hard pulls back to back by the same lender for the same loan.

Are they allowed to do this?

Is there anything in the FCRA which shows this as not being lawful?

If so, can you copy and paste the section which states this?

I tried arguing with the lendor and they keep telling me they can't erase credit checks. I've climbed the ladder to the top of management and they too tell me the same thing.

Thanks.

Re: Loan company pulled Experian twice!

Anonymous — Tue, 16 Sep 2008 19:43:08 GMT

Were they pulled at the same day?

Re: Loan company pulled Experian twice!

aftermath — Tue, 16 Sep 2008 19:59:06 GMT

They were pulled 1 day apart. Does that make a difference in my case?

Re: Loan company pulled Experian twice!

Anonymous — Wed, 17 Sep 2008 00:16:04 GMT

The de-duplicate in scoring

Pulls from the same souce de-duplicate in scoring

aftermath wrote:

They were pulled 1 day apart. Does that make a difference in my case?

Re: Loan company pulled Experian twice!

aftermath — Wed, 17 Sep 2008 16:03:53 GMT

@Anonymous wrote:
The de-duplicate in scoring

Pulls from the same souce de-duplicate in scoring
@aftermath wrote:
They were pulled 1 day apart. Does that make a difference in my case?

I'm sorry, what does that mean?

Re: Loan company pulled Experian twice!

Miner — Wed, 17 Sep 2008 19:30:32 GMT

I've never had that happen on a mortgage loan from the same lender, but I did have that happen on a new car loan last year. A wierd named credit company pulled (I'm assuming the dealership or one of their fianace partners) and then a GMAC pull whom I actually got my loan from since it was 2.9% (which I was suprised that the manager was able to qualify me for given my score of 667 though an auto enhanced score would probably be higher). Both pulled on the day I applied. And yes, both credit pulls are counting in my scores.

Message Edited by Miner on 09-17-2008 12:30 PM

Re: Loan company pulled Experian twice!

Anonymous — Thu, 18 Sep 2008 04:13:30 GMT

It means yes - you will have 2 INQ's in count- but scoring wise they will count as one

This is even true if they were 1 month or 6 months apart- (though longer the inq will ding your score)

@aftermath wrote:

@Anonymous wrote:

The de-duplicate in scoring

Pulls from the same souce de-duplicate in scoring

@aftermath wrote:

They were pulled 1 day apart. Does that make a difference in my case?

I'm sorry, what does that mean?