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Does CapOne always do a 3 credit bureau pull?

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longtimelurker
Epic Contributor

Re: Does CapOne always do a 3 credit bureau pull?


@1GaDawg85 wrote:

@longtimelurker wrote:

@Anonymous wrote:
There's no reason to get 3 out of anyone but thats my personal opinion. 2 for comparison purposes I can understand depending on the profile. But 3 every single time? O.o Ridiculous

As a Cap One defneder, it makes perfect sense, and probably comes from their subprime background.   You want to see if people are searching for credit in a way that indicates possible trouble.   If you pull one or two, you are basically taking a chance that the bad stuff isn't on the ones you don't pull.

Other banks don't do this because of the cost, but I assume Cap One feels it is worth it.

 

If not for the cost, I'm sure all banks would pull all 3, which then would basically make all CRAs the same, and you would only need one.


It does make sense from a business perspective but from a consumer perspective, no one wants a HP on all 3 bureaus from 1 company 


Right, but HeavenlyFlower seemed to be suggested it wasn't needed from a business persepctive either.

 

From a cunsumer perspective, we would all prefer no HPs at all!

Message 61 of 81
1GaDawg85
Valued Contributor

Re: Does CapOne always do a 3 credit bureau pull?


@longtimelurker wrote:

@1GaDawg85 wrote:

@longtimelurker wrote:

@Anonymous wrote:
There's no reason to get 3 out of anyone but thats my personal opinion. 2 for comparison purposes I can understand depending on the profile. But 3 every single time? O.o Ridiculous

As a Cap One defneder, it makes perfect sense, and probably comes from their subprime background.   You want to see if people are searching for credit in a way that indicates possible trouble.   If you pull one or two, you are basically taking a chance that the bad stuff isn't on the ones you don't pull.

Other banks don't do this because of the cost, but I assume Cap One feels it is worth it.

 

If not for the cost, I'm sure all banks would pull all 3, which then would basically make all CRAs the same, and you would only need one.


It does make sense from a business perspective but from a consumer perspective, no one wants a HP on all 3 bureaus from 1 company 


Right, but HeavenlyFlower seemed to be suggested it wasn't needed from a business persepctive either.

 

From a cunsumer perspective, we would all prefer no HPs at all!


I feel like HP's are a waste because you can see plenty of information from a SP. A HP feels like a slap in the face especially from companies like Cap1 that pull from all 3 CRA's. 


FICO 5 ,4, 2 - 10/2023                            FICO 8 - 10/2023                                   FICO 9 - 10/2023                                   FICO 10 - 10/2023
     
Message 62 of 81
Anonymous
Not applicable

Re: Does CapOne always do a 3 credit bureau pull?


@longtimelurker wrote:

@1GaDawg85 wrote:

@longtimelurker wrote:

@Anonymous wrote:
There's no reason to get 3 out of anyone but thats my personal opinion. 2 for comparison purposes I can understand depending on the profile. But 3 every single time? O.o Ridiculous

As a Cap One defneder, it makes perfect sense, and probably comes from their subprime background.   You want to see if people are searching for credit in a way that indicates possible trouble.   If you pull one or two, you are basically taking a chance that the bad stuff isn't on the ones you don't pull.

Other banks don't do this because of the cost, but I assume Cap One feels it is worth it.

 

If not for the cost, I'm sure all banks would pull all 3, which then would basically make all CRAs the same, and you would only need one.


It does make sense from a business perspective but from a consumer perspective, no one wants a HP on all 3 bureaus from 1 company 


Right, but HeavenlyFlower seemed to be suggested it wasn't needed from a business persepctive either.

 

From a cunsumer perspective, we would all prefer no HPs at all!


I did not state that it wasnt needed from a business perspective. I was speaking based on my personal perspective as a consumer and perhaps that wasnt clear. I can see why it might be necessary based on their subprime background of card giving. You apply with shaky credit, get rewarded with a toy limit approval and pay them in hard pulls/AF/high APR fees down the line. If it was a practice strictly for the lower tier cards to judge risk behavior then thats understandable but that is NOT the case. Do they not also triple pull for VentureOne, Venture and QS cards which are considered to be *excellent credit* cards based on their website? Yes, they do

Message 63 of 81
baller4life
Super Contributor

Re: Does CapOne always do a 3 credit bureau pull?

I hope I drop dead if I ever again give Cap One THREE hps for ANY of their cards. Lesson learned!! Smiley Mad
Message 64 of 81
Anonymous
Not applicable

Re: Does CapOne always do a 3 credit bureau pull?

Well thats a strong feeling!

Id be willing to take a triple pull for a $15,000 limit or more.
Message 65 of 81
1GaDawg85
Valued Contributor

Re: Does CapOne always do a 3 credit bureau pull?


@Anonymous wrote:
Well thats a strong feeling!

Id be willing to take a triple pull for a $15,000 limit or more.

That would be the ONLY reason to take a triple pull 


FICO 5 ,4, 2 - 10/2023                            FICO 8 - 10/2023                                   FICO 9 - 10/2023                                   FICO 10 - 10/2023
     
Message 66 of 81
baller4life
Super Contributor

Re: Does CapOne always do a 3 credit bureau pull?

Strong feeling you bet! Gave them 3 for a Platinum denial at the start of my rebuilding and 3 more the SAME DAY for their secured. 6 in a day? They can kiss my you know what!!
Message 67 of 81
Anonymous
Not applicable

Re: Does CapOne always do a 3 credit bureau pull?


@baller4life wrote:
Strong feeling you bet! Gave them 3 for a Platinum denial at the start of my rebuilding and 3 more the SAME DAY for their secured. 6 in a day? They can kiss my you know what!!

Ouch

Message 68 of 81
Anonymous
Not applicable

Re: Does CapOne always do a 3 credit bureau pull?


@baller4life wrote:
Strong feeling you bet! Gave them 3 for a Platinum denial at the start of my rebuilding and 3 more the SAME DAY for their secured. 6 in a day? They can kiss my you know what!!

 

 

fgds

 

Message 69 of 81
longtimelurker
Epic Contributor

Re: Does CapOne always do a 3 credit bureau pull?


@Anonymous wrote:

@longtimelurker wrote:

@1GaDawg85 wrote:

@longtimelurker wrote:

@Anonymous wrote:
There's no reason to get 3 out of anyone but thats my personal opinion. 2 for comparison purposes I can understand depending on the profile. But 3 every single time? O.o Ridiculous

As a Cap One defneder, it makes perfect sense, and probably comes from their subprime background.   You want to see if people are searching for credit in a way that indicates possible trouble.   If you pull one or two, you are basically taking a chance that the bad stuff isn't on the ones you don't pull.

Other banks don't do this because of the cost, but I assume Cap One feels it is worth it.

 

If not for the cost, I'm sure all banks would pull all 3, which then would basically make all CRAs the same, and you would only need one.


It does make sense from a business perspective but from a consumer perspective, no one wants a HP on all 3 bureaus from 1 company 


Right, but HeavenlyFlower seemed to be suggested it wasn't needed from a business persepctive either.

 

From a cunsumer perspective, we would all prefer no HPs at all!


I did not state that it wasnt needed from a business perspective. I was speaking based on my personal perspective as a consumer and perhaps that wasnt clear. I can see why it might be necessary based on their subprime background of card giving. You apply with shaky credit, get rewarded with a toy limit approval and pay them in hard pulls/AF/high APR fees down the line. If it was a practice strictly for the lower tier cards to judge risk behavior then thats understandable but that is NOT the case. Do they not also triple pull for VentureOne, Venture and QS cards which are considered to be *excellent credit* cards based on their website? Yes, they do


OK, I was interpreting your "2 for comparison purposes I can understand depending on the profile" as adopting a biz perspective, but fine.

 

But (with exception of Buiypower for some reason) it wouldn't make much sense to change pulling depending on what card is applied for.   If someone had one clean CRA, you could then end up with them getting approved for a QS (based on single pull) and denied for a Plat (on a triple pull) whiich is presumably not what they want.

 

Continuing as a highly paid advocate of Cap One:  I also feel "triple pull" sounds worse than it is, sort of suggesting that you get three hits on the same bureau.   As long as other issuers aren't doing this, the damage isn't that great.   Each other single puller will see a Cap One inq, just as if Cap One had only reported to that CRA.  It's just that that is the case no matter what the single puller pulls!

 

 

Message 70 of 81
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