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CR Freeze Stopping current creditors from pulling a hard.

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Valued Contributor

CR Freeze Stopping current creditors from pulling a hard.

I request a CLI on both account this past Friday. I know for a fact that they both hit you with hard when requesting a CLI but all of my credit reports are frozen so when I called this morning I was told by Shell & Barclay  they couldn't pull my reports because they are frozen. I know a few people stated even with your CR frozen your current creditor can still pull a hard I found that to be untrue this morning because Barclay & Shell could not pull a hard on my CR due to the freeze. A hard is not worth a CLI for me at the current time. I have to many injuries 13 on EX 21 on EQ an 14 on TU.


Starting Score 3-31-08: EQ 582 TU 577 EX 625
Current Score 3-19-10: EQ 703 TU 712 EX No Clue
Goal Score: 800 By January Of 2012


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Message 1 of 44
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Valued Contributor

Re: CR Freeze Stopping current creditors from pulling a hard.

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Starting Score 3-31-08: EQ 582 TU 577 EX 625
Current Score 3-19-10: EQ 703 TU 712 EX No Clue
Goal Score: 800 By January Of 2012


Take the FICO Fitness Challenge
Message 2 of 44
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Super Contributor

Re: CR Freeze Stopping current creditors from pulling a hard.

 


@mjbfan79 wrote:

I request a CLI on both account this past Friday. I know for a fact that they both hit you with hard when requesting a CLI but all of my credit reports are frozen so when I called this morning I was told by Shell & Barclay  they couldn't pull my reports because they are frozen. I know a few people stated even with your CR frozen your current creditor can still pull a hard I found that to be untrue this morning because Barclay & Shell could not pull a hard on my CR due to the freeze. A hard is not worth a CLI for me at the current time. I have to many injuries 13 on EX 21 on EQ an 14 on TU.


You must not have read any of my posts regarding the subject.   Creditors can only make a soft inquiry when a freeze is in place whether one already have credit with them or not.   Credit Freeze= No Hard Pull

Message 3 of 44
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Valued Contributor

Re: CR Freeze Stopping current creditors from pulling a hard.


@DI wrote:

You must not have read any of my posts regarding the subject.   Creditors can only make a soft inquiry when a freeze is in place whether one already have credit with them or not.   Credit Freeze= No Hard Pull


Never saw one of your threads but I did do a search on here an most people where saying your current creditors can still pull a hard which is not true. I really need to let some of these inquiries age an fall off I don't plan on applying for credit anytime soon after buying a new car that cost me a few inquiries. If I can't get a CLI with a soft I don't need it!

 


Starting Score 3-31-08: EQ 582 TU 577 EX 625
Current Score 3-19-10: EQ 703 TU 712 EX No Clue
Goal Score: 800 By January Of 2012


Take the FICO Fitness Challenge
Message 4 of 44
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Regular Contributor

Re: CR Freeze Stopping current creditors from pulling a hard.


@DI wrote:

 


@mjbfan79 wrote:

I request a CLI on both account this past Friday. I know for a fact that they both hit you with hard when requesting a CLI but all of my credit reports are frozen so when I called this morning I was told by Shell & Barclay  they couldn't pull my reports because they are frozen. I know a few people stated even with your CR frozen your current creditor can still pull a hard I found that to be untrue this morning because Barclay & Shell could not pull a hard on my CR due to the freeze. A hard is not worth a CLI for me at the current time. I have to many injuries 13 on EX 21 on EQ an 14 on TU.


You must not have read any of my posts regarding the subject.   Creditors can only make a soft inquiry when a freeze is in place whether one already have credit with them or not.   Credit Freeze= No Hard Pull


This is spot on.  Which is why the freeze can be powerful if used correctly.  I froze Experian for 2 years, unfroze it to zero inquiries.  It was a beautiful thing.

 

It also helps you control existing creditors pulling hards for CLIs...a practice I don't necessarily agree with myself.

Credit Cards:
| Cabrillo Credit Union MasterCard @ $3,000 | Chevron Visa @ $2,000 | Amazon Store Card @ $1,800 | HSBC 2% Rewards MasterCard @ $950 (redeemed themselves)
Message 5 of 44
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Super Contributor

Re: CR Freeze Stopping current creditors from pulling a hard.

I watched 25 inquiries from my TU report go away with the freeze in place.  I'll be left with one PSECU inquiry on my EX report after August.   The ability to freeze reports is a blessing.  

Message 6 of 44
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Valued Contributor

Re: CR Freeze Stopping current creditors from pulling a hard.

I froze all 3 of my CRs, not looking for anything the next 2yrs. I have capped out with CCs (total 8 revolving accounts). I want a ZERO inquiry report on all 3 CRs in 2yrs. The 10% boost to my fico scores will be nice, plus AAoA the next 2yrs should put my fico in the 750 + range. I figure the only way to get to 750 plus would be to have a clean squeaky report with no inquiries, all bills paid on time, etc....so I am using the security freeze to my advantage. No need for more temptations...just garden. If I can't get a CLI through the "soft inquiry" route than I don't need it at all. Smiley Happy

Message 7 of 44
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Senior Contributor

Re: CR Freeze Stopping current creditors from pulling a hard.

This may be a silly question, but if we don't apply for credit, then there wouldn't be any inquiries anyway, right? So, I don't understand the benefit of a freeze unless it's to prevent current creditors from doing a hard pull instead of a soft. I feel like I must be missing something here.

 

I know they CRAs charge $10 to place the freeze, but do they charge each time you lift it, too?

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EQ FICO 750 | TU FICO 761 (Walmart) | EX FAKO 767 | Goal: 800+

Edits, funky spacing and spelling due to my iPad not getting along with the forum editor!

Message 8 of 44
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Valued Contributor

Re: CR Freeze Stopping current creditors from pulling a hard.


@bichonmom wrote:

This may be a silly question, but if we don't apply for credit, then there wouldn't be any inquiries anyway, right? So, I don't understand the benefit of a freeze unless it's to prevent current creditors from doing a hard pull instead of a soft. I feel like I must be missing something here.

 

I know they CRAs charge $10 to place the freeze, but do they charge each time you lift it, too?



The benefit to "freeze" is to prevent lenders from doing a hard pull instead of a soft pull...at least that is for me. My last CLI requested, a CSR stated it was a soft inquiry, but it ended up being a hard when I received an alert from EQ. I was not happy about that. To me, a hard IQ is only worth it for a new rewards CC imho. Not to mention it's added protection to your CRs, "IF" you are not looking for new credit. So $10 is a small price to pay for extra security imho.

 

In addition, if I was to app for a new CC down the road, a simple phone call + pin # will life the freeze within 3 days or less. Lenders will also contact you when submitting new app if there is a freeze on your CR. You would have to give them a pin # to access your report if the freeze was not lifted before submitting a new app. A security freeze will not get you denied for a new app if you don't remember to lift the freeze before the app, but what it does is delay the app process a bit. You would have to call in and give them a pin # to access your report.

Message 9 of 44
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Senior Contributor

Re: CR Freeze Stopping current creditors from pulling a hard.

The purpose of a freeze has never been to prevent current lenders from pulling hard and is not a foolproof method to prevent them from doing so.

 

Each of Citi, NFCU and SFB have all pulled hards on my frozen TU recently, it can happen; so recommend that a card holder doesn't bank on blocking current lenders from HPs for much longer... this unintended result of freezing is apparently being corrected presently.

DCU EQ 5.0, Citi EQ 08 Bankcard, PenFed EX NG2
EX 08: AFCU, Amex, Chase, PSECU EX 98(?)
TU 08: Barclays, Discover
Message 10 of 44
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