topic Does LexisNexis consider any pull as hard in General Credit Topics

Does LexisNexis consider any pull as hard

Fernando1 — Thu, 12 Jan 2023 02:18:07 GMT

As I am new in US and my credit history is short and I don't have a SSN (just ITIN), I try to find out my credit score by filling out pre approval cards/loans (soft pulls) to receive AA that shows my credit score.

I recently received an AA letter whose company obtained my credit score from LexisNexis. They gave me the following information:

Your credit score: 538
Date: January 6, 2023
Scores range from a minimum of 501 to a maximum of 900
Key factors that negatively affected your credit score:

Number of consultations in the last 12 months
Number of sources confirming identity and current address
Period of time in sources confirming identity

Last month my credit score was 648. It dropped over 100 points in just one month (no late payment)

Does anyone know if LexisNexis not consider "soft" pulls, everything is "hard"?

Re: Does LexisNexis consider any pull as hard

Remedios — Fri, 13 Jan 2023 15:04:20 GMT

No one but you sees SPs, only HPs

Score LN gave you isn't Fico, it's their proprietary Payment Score with 501-900 range.

Re: Does LexisNexis consider any pull as hard

Thomas_Thumb — Fri, 13 Jan 2023 22:12:06 GMT

Interesting, I did not know LN offered a payment credit score. The only scores I ever obtained from LN were Auto and Property credit based insurance scores (CBIS).

Re: Does LexisNexis consider any pull as hard

mgood — Sat, 14 Jan 2023 01:56:25 GMT

So, I guess the questions would be

1. Does LN count SP against you in determining this score, and

1a. Does anyone care? Do any lenders use this score?

Re: Does LexisNexis consider any pull as hard

805orbust — Sat, 14 Jan 2023 17:32:59 GMT

Dang that is news to me also. Been about a year since I requested a report from them. Is this something new @Remedios ?

Re: Does LexisNexis consider any pull as hard

Remedios — Sat, 14 Jan 2023 18:24:17 GMT

Yes and no.

It was implemented after decision was made to remove judgements/liens, and also because of collections removal after payment (PFD).

LN is using data collected from alternative sources in addition to "regular" CR in order to establish how likely someone is to pay back whatever they borrowed, and also (according to LN) predict how much someone will pay relative to the balance.

Alternative data sources typically have info that's not present on CR, some of the bodies that were removed from CR still show up.

If you are inclined to do so, you can start with Clarity. You may not have much there but someone with less than stellar credit will have a lot more data that's not found on reports that three major CRAs provide, one example being payday loans, pre-paid cell phone inquiries/services (that's bad in LN eyes, they are still under impression that only those who don't qualify for post-paid would opt for pre-paid) etc

I don't think you can get this score unless you apply for something and it's denied based on LN report. I didn't request my 300 pages of wrong addresses report in years, so not sure if they include it or not. I'm leaning towards not.

Re: Does LexisNexis consider any pull as hard

JFON — Wed, 26 Apr 2023 16:52:04 GMT

I was recently looking into a online personal loan, so just checking rates with soft pulls. i went to alot of sites and then reurned to those same sites later because i lost track of which ones i tried. To my suprise each and every one is on my lexisnexis report. so realistically a creditor sees all and decides how to use but they do see even soft pulls.

Re: Does LexisNexis consider any pull as hard

FireMedic1 — Wed, 26 Apr 2023 19:10:35 GMT

@JFON wrote:
I was recently looking into a online personal loan, so just checking rates with soft pulls. i went to alot of sites and then reurned to those same sites later because i lost track of which ones i tried. To my suprise each and every one is on my lexisnexis report. so realistically a creditor sees all and decides how to use but they do see even soft pulls.

Welcome @JFON

Only you can see SP's. All creditors can see HP and base their decisions on that.