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Last month I did not have so many softies, it all started since the app spree.
Is it normal for lenders to soft new accs like that? Should I be concerned?
I'm wondering what's going on here and what to expect if this is a non conventional practice.
Amex 6 pulls in EX,
Barclay 3 pulls distributed,
Every lender I have an acc with pulled TU last month after spree.
And.. nobody has touched EQ
EX report
and TU
I just received the signed up bonuses, could the softies be cause of that?
Should I expect more pre-approval offers?
Oddly enough, I have noticed that pattern, too. It seems that as soon as I app for a new CC (inquiry) or when a new CC reports, I get softed by other CCs. I wonder if the CRBs are sending info to our CCs, letting them know we have an inq or new acct reporting. Of couse, I have no proof. But it wouldn't surprise me at all. Otherwise, it's just a huge coincidence, which I guess is possible.
(And I don't really do app sprees -- I usually get one CC at a time.)
@CruzImperial wrote:
Last month I did not have so many softies, it all started since the app spree.
Is it normal for lenders to soft new accs like that? Should I be concerned?
I'm wondering what's going on here and what to expect if this is a non conventional practice.
Amex 6 pulls in EX,
Barclay 3 pulls distributed,
Every lender I have an acc with pulled TU last month after spree.
And.. nobody has touched EQ
EX report
and TU
I just received the signed up bonuses, could the softies be cause of that?
Should I expect more pre-approval offers?
May I ask what credit monitoring service you use?
Actually, I don't have any credit monitoring service active at this point. Mmm only ones I could think of are CK (updates daily) and the Walmart one.
I used to have the Discover CMS but cancelled it about last month and have not tried the amex one yet.
It would be big coincidence that cap one and discover both soft me right now.
It's not a coincidence that you get SP with every new app. The CC companies can subscribe to a service that informs them of any new activity on your CR if you have an act with them. Looking at your SPs, I'd only be worried about Barclays. If you were a marginal approval, they have been known to take AA sometimes. . Otherwise, it's a common practice.
@improvingmycredit wrote:It's not a coincidence that you get SP with every new app. The CC companies can subscribe to a service that informs them of any new activity on your CR if you have an act with them. Looking at your SPs, I'd only be worried about Barclays. If you were a marginal approval, they have been known to take AA sometimes. . Otherwise, it's a common practice.
That makes sense but I wonder if certain applications with certain banks trigger this? I did not notice any activity when two school loans posted or when my application for NFCU posted but I swear to gawd that when I applied for Amex (which I was denied) I noticed Chase was right on top of it...like the same day, almost simultaneously and two more within the next week. Makes you wonder. Honestly, I want to reapply with Amex since all issues have been resolved, but I have a sense that Chase did not like that app. Maybe it is in my head? This is all too exhausting..lol
I am starting to believe they somehow do have a method of knowing something new happened to our files (like a CMS specially for them) and after receiving info of changes in our credit, they soft to see what's going on.
Case in point: 8/31, I apped and was approved for CitiBank Visa. I apped just after 12 AM (midnight) Pacific time. Both Amex and Chase softed me on 8/31. Coincidence? I think not. I think that CCs want to know when we're looking for credit and want to see what's going on with the rest of our credit profile when we are seeking new credit.
This is only my EX report. I'm not currently paying for EQ or TU reports, so I don't know who is softing me there.
+1
They absolutely subscribe to a service offered by the CRAs that alerts them of new HPs. I noticed that Barclays does not subscibe to the service but does SP TU and EX religiously for the first 5-6 months of opening an account with them.
@CruzImperial wrote:Actually, I don't have any credit monitoring service active at this point. Mmm only ones I could think of are CK (updates daily) and the Walmart one.
I used to have the Discover CMS but cancelled it about last month and have not tried the amex one yet.
It would be big coincidence that cap one and discover both soft me right now.
"Amex Serviced by CIC" is how Amex Credit Secure monitoring service shows up when pulling your updated reports. "American Express 2" is generally promotional inquiries for pre-approvals.
You may have inadvertently enrolled in a free trial of CreditSecure when you activated your card. I would call them as soon as possible to find out before you end up getting charged.