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Garden Club Meeting - December 2012

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tcbofade
Super Contributor

Re: Garden Club Meeting - December 2012

Bring back beer.  Smiley Happy

 

02/01/24 Fico 8: EX 757, EQ 803, TU 783.
Fico 9: EX 760 12/16/23, EQ 790 02/04/24, TU No idea.

Zero percent financing is where the devil lives...
Message 121 of 297
patsfan1453
Regular Contributor

Re: Garden Club Meeting - December 2012

My plan was to be in the garden for 6 months to get a mortage through NFCU, but I just read it's a hard pull for membership? Hopefully they don't take that into account.

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Total CLs: 48.7k
Message 122 of 297
webhopper
Moderator Emeritus

Re: Garden Club Meeting - December 2012

I think that HPs are ok as long as they weren't made with the intent of opening a new credit account or tradeline. So like; a HP by a security system company would not change your recognition status; but an application for financing or a credit card would. Correct me if I'm wrong please someone!?
FICO 9:
Filed Chapter 13 on 6/1/2017 after job loss. Discharged 6/1/2022.

Goal: Gardening!


Message 123 of 297
webhopper
Moderator Emeritus

Re: Garden Club Meeting - December 2012


@tinuviel wrote:

Hello, all!

 

I'd like to extend a warm welcome to all of our new gardeners, as well as a round of congratulations to those who have reached milestones. Few things are as satisfying as accomplishing a set goal. Keep up the good work!

 

I'm also letting everyone know that I'm going on vacation -- partially paid for with credit card rewards!!! -- and will be away from the forums for a few days. I'll be back online on or around the 16th. Webhopper has graciously agreed to take charge of the clubhouse keys and will be overseeing the hospitality on this thread. Please continue to enjoy the snacks, drinks and fellowship. Happy gardening! Smiley Happy


 

Have a great vacation tinuviel! See ya when you get back!
FICO 9:
Filed Chapter 13 on 6/1/2017 after job loss. Discharged 6/1/2022.

Goal: Gardening!


Message 124 of 297
CreditWorld2013
Frequent Contributor

Re: Garden Club Meeting - December 2012


@webhopper wrote:
I think that HPs are ok as long as they weren't made with the intent of opening a new credit account or tradeline. So like; a HP by a security system company would not change your recognition status; but an application for financing or a credit card would. Correct me if I'm wrong please someone!?

Well, A HP from a Security System company is applying for financing (If this is to break up installation/unit costs into payments). If it is an application for membership such as NFCU I would think this to goes against "gardening" as it is a financial institution that extends credit. That is, that some banks use 1 pull for membership but also for credit products. At the end of the day...the hard pull rule in the garden would be viewed as unconstitutional on the grounds that it is void for vagueness Smiley Very Happy It doesn't include nor does it excluse ample information from financial instutions,memberships, etc. 

 

The end result...it should be allowed for the time being until otherwise noted. So don't throw anyone out of the garden just yet Smiley Happy 

Message 125 of 297
webhopper
Moderator Emeritus

Re: Garden Club Meeting - December 2012


@CC365 wrote:

@webhopper wrote:
I think that HPs are ok as long as they weren't made with the intent of opening a new credit account or tradeline. So like; a HP by a security system company would not change your recognition status; but an application for financing or a credit card would. Correct me if I'm wrong please someone!?

Well, A HP from a Security System company is applying for financing (If this is to break up installation/unit costs into payments). If it is an application for membership such as NFCU I would think this to goes against "gardening" as it is a financial institution that extends credit. That is, that some banks use 1 pull for membership but also for credit products. At the end of the day...the hard pull rule in the garden would be viewed as unconstitutional on the grounds that it is void for vagueness Smiley Very Happy It doesn't include nor does it excluse ample information from financial instutions,memberships, etc. 

 

The end result...it should be allowed for the time being until otherwise noted. So don't throw anyone out of the garden just yet Smiley Happy 


 

In this case; the security company required a HP... not for financing the equipment but for establishing service.... kind of like a HP from ATT when you sign up for a cell phone.
FICO 9:
Filed Chapter 13 on 6/1/2017 after job loss. Discharged 6/1/2022.

Goal: Gardening!


Message 126 of 297
patsfan1453
Regular Contributor

Re: Garden Club Meeting - December 2012

Can I file some sort of papers against it counting toward my gardening time? Is there a backdoor number? ;P

Amex Everyday 6k || Chase Sapphire 5k || Buypower Card 5k || USAA Wounded Warrior Mastercard 4k || Citi TYP 4.9k|| Citi Forward 5.5k || Discover It 2k || Chase Freedom 5.5k || Walmart 1k || Chase Amazon 1k
Business: Chase ink cash 5k || AMEX Simply Cash 3.8k
Total CLs: 48.7k
Message 127 of 297
CreditWorld2013
Frequent Contributor

Re: Garden Club Meeting - December 2012


@webhopper wrote:

@CC365 wrote:

@webhopper wrote:
I think that HPs are ok as long as they weren't made with the intent of opening a new credit account or tradeline. So like; a HP by a security system company would not change your recognition status; but an application for financing or a credit card would. Correct me if I'm wrong please someone!?

Well, A HP from a Security System company is applying for financing (If this is to break up installation/unit costs into payments). If it is an application for membership such as NFCU I would think this to goes against "gardening" as it is a financial institution that extends credit. That is, that some banks use 1 pull for membership but also for credit products. At the end of the day...the hard pull rule in the garden would be viewed as unconstitutional on the grounds that it is void for vagueness Smiley Very Happy It doesn't include nor does it excluse ample information from financial instutions,memberships, etc. 

 

The end result...it should be allowed for the time being until otherwise noted. So don't throw anyone out of the garden just yet Smiley Happy 


 

In this case; the security company required a HP... not for financing the equipment but for establishing service.... kind of like a HP from ATT when you sign up for a cell phone.

If the security company wanted to see if you qualify for establishing service then it would be like AT&T. BUT some companies allow you to install the unit and pay overtime (6 Months-12 Months) This would be similar to bill me later or a loan. Therefore, it is an extension of credit. It is similar to the case of ShopNBC and ValuePayments. Sometimes they will do a hard pull (there was a thread about this a few days ago) AT&T establishes if you can sign up for service but you pay for the phone before you walk out of the store. Unless you go for a Pay for it later which is an entirely different story. 

Message 128 of 297
webhopper
Moderator Emeritus

Re: Garden Club Meeting - December 2012


@CC365 wrote:

@webhopper wrote:

@CC365 wrote:

@webhopper wrote:
I think that HPs are ok as long as they weren't made with the intent of opening a new credit account or tradeline. So like; a HP by a security system company would not change your recognition status; but an application for financing or a credit card would. Correct me if I'm wrong please someone!?

Well, A HP from a Security System company is applying for financing (If this is to break up installation/unit costs into payments). If it is an application for membership such as NFCU I would think this to goes against "gardening" as it is a financial institution that extends credit. That is, that some banks use 1 pull for membership but also for credit products. At the end of the day...the hard pull rule in the garden would be viewed as unconstitutional on the grounds that it is void for vagueness Smiley Very Happy It doesn't include nor does it excluse ample information from financial instutions,memberships, etc. 

 

The end result...it should be allowed for the time being until otherwise noted. So don't throw anyone out of the garden just yet Smiley Happy 


 

In this case; the security company required a HP... not for financing the equipment but for establishing service.... kind of like a HP from ATT when you sign up for a cell phone.

If the security company wanted to see if you qualify for establishing service then it would be like AT&T. BUT some companies allow you to install the unit and pay overtime (6 Months-12 Months) This would be similar to bill me later or a loan. Therefore, it is an extension of credit. It is similar to the case of ShopNBC and ValuePayments. Sometimes they will do a hard pull (there was a thread about this a few days ago) AT&T establishes if you can sign up for service but you pay for the phone before you walk out of the store. Unless you go for a Pay for it later which is an entirely different story. 


 

They wanted to see if I qualified to establish service. All equipment was free and installation was free. I set up service for 3 addresses Smiley Happy tinu allowed me to keep my silver spade at the time so it didn't count Smiley Happy I have of course refinanced every thing that has a note since then so its moot!
FICO 9:
Filed Chapter 13 on 6/1/2017 after job loss. Discharged 6/1/2022.

Goal: Gardening!


Message 129 of 297
CreditWorld2013
Frequent Contributor

Re: Garden Club Meeting - December 2012


@webhopper wrote:
They wanted to see if I qualified to establish service. All equipment was free and installation was free. I set up service for 3 addresses Smiley Happy tinu allowed me to keep my silver spade at the time so it didn't count Smiley Happy I have of course refinanced every thing that has a note since then so its moot!



Since you have the power until the 16th you can always issue yourself a pardon and get your silver spade back Smiley Tongue 

Message 130 of 297
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