Credit Card Cld on multiple accounts- will freezing stop CLD?

[CreditPoor]

This is an example why an emergency fund is important. Depending on your credit cards as savings will always come bac to bite you.

[SouthJamaica]

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@CreditPoor wrote:

This is an example why an emergency fund is important. Depending on your credit cards as savings will always come bac to bite you.

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I don't think there's anybody here who doesn't know that it's better to have money in the bank, than not to.

[CreditPoor]

Too many don't and instead use credit cards as emergency savings. One's concern for CL decreases and thinking that freezing bureaus to stop them seems like a great opportunity to remind them the importance of saving.

[K-in-Boston]

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@Anonymous wrote:

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@Brian_Earl_Spilner wrote:

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@Anonymous wrote:

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@JoeRockhead wrote:

. They see everything on a SP, only it's older data (30 to 60 days). 

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I have heard lots of different theories of the difference in data between SP and HP.   So same data just older (an HP pulls the up-to-date data?)

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There's no difference in data. The HP is just a way to show everyone that you were seeking credit. 

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That is what I always thought but have heard many different opinions.

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I have never heard this but it's likely conflating "I got action A or didn't get action B" because a lender is using a previous soft pull that was done at an earlier date.   For example, many card issuers base credit line increase request decisions on their routine account pulls, not necessarily on fresh soft pulls.  Any pull is going to show your data exactly as it appears the second it was done.  Busy files (raises hand) can often have multiple changes in a single day.

[Brian_Earl_Spilner]

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@K-in-Boston wrote:

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@Anonymous wrote:

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@Brian_Earl_Spilner wrote:

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@Anonymous wrote:

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@JoeRockhead wrote:

. They see everything on a SP, only it's older data (30 to 60 days). 

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I have heard lots of different theories of the difference in data between SP and HP.   So same data just older (an HP pulls the up-to-date data?)

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There's no difference in data. The HP is just a way to show everyone that you were seeking credit. 

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That is what I always thought but have heard many different opinions.

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I have never heard this but it's likely conflating "I got action A or didn't get action B" because a lender is using a previous soft pull that was done at an earlier date.   For example, many card issuers base credit line increase request decisions on their routine account pulls, not necessarily on fresh soft pulls.  Any pull is going to show your data exactly as it appears the second it was done.  Busy files (raises hand) can often have multiple changes in a single day.

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In addition to that, I think part of the difference in opinion is probably also based on people that were pre-approved for something and later denied. In most of those situations, however, there was a period of time that lapsed where there could be a change to credit reports. But, we just don't have enough data to confirm or deny. 

[Thomas_Thumb]

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@Brian_Earl_Spilner wrote:

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@Anonymous wrote:

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@JoeRockhead wrote:

. They see everything on a SP, only it's older data (30 to 60 days). 

---

I have heard lots of different theories of the difference in data between SP and HP.   So same data just older (an HP pulls the up-to-date data?)

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There's no difference in data. The HP is just a way to show everyone that you were seeking credit. 

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Yeppers.

HP => seeking credit

SP => spying eyes

Either way the same data set is pulled and we see you.

[FicoMike0]

"I don't think there's anybody here who doesn't know that it's better to have money in the bank, than not to."

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 Personally, I like to keep some cash in a mason jar, buried in my back yard.

[Anonymous]

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@FicoMike0 wrote:

"I don't think there's anybody here who doesn't know that it's better to have money in the bank, than not to."

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 Personally, I like to keep some cash in a mason jar, buried in my back yard.

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Purely out of academic interest, where do you live?  You know, exactly.   And what part of the yard would you recommend burying the jar.  Corner, and if so, which corner?  Near a marker like a tree?  Which marker?

Thanks, just looking for DP!