New apps from existing creditors: unfreeze report ?

[PointLager]

If I app for a new card with an issuer with which I have other cards do I need to unfreeze my CR for them to access/process it? Or can they still access it as they're an existing creditor?

I was getting sick of unsolicited SPs so put freezes on all my reports.

Thanks

[jacetx]

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@PointLager wrote:
If I app for a new card with an issuer with which I have other cards do I need to unfreeze my CR for them to access/process it? Or can they still access it as they're an existing creditor?

I was getting sick of unsolicited SPs so put freezes on all my reports.

Thanks

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Generally (except in the case of SCT) lenders will have to do a HP when you apply for new products. These companies need to re evaluate your credit worthiness at the moment of the application since your report might have changed since you applied previously (new accounts, inquiries, collections, etc)

[PointLager]

Thanks. I expect HP. What I am wondering is whether they can HP if there is a freeze, given the existing creditor relationship.

Otherwise I'd have to unfreeze the CR.

[Ghoshida]

Current lenders will not HP you if a freeze is in place. A freeze is generally put in place to avoid fraudulent applications arising out of identity theft. Even if a lender knows you, they do not take the risk of accepting a fraudulent application. Only when the lender has a policy of SP CLI, they will grant new credit in the form of a CLI. For any new app, or when a CLI needs a HP, the lender will ask you to remove the freeze.

I have had this experience with Chase (CLI), Discover, Citi, Capital One, and US Bank (new app). It gives you a moment to review whether you really want that HP. Extremely helpful when drapping.

[PointLager]

Thanks @Ghoshida

So if I have a freeze now should I lift the freeze on EX /since that's chase's preferred CR or app with the freeze in place and then call in when they can't process ?

Thanks

[JagerBombs89]

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@PointLager wrote:
@Anonymous @Ghoshida

So if I have a freeze now should I lift the freeze on EX /since that's chase's preferred CR or app with the freeze in place and then call in when they can't process ?

Thanks

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You will have to remove the freeze before you even apply.  If it is in place, they won't even be able to get to the verification since they won't be able to get your credit report.  Even though I had a card with Chase, I had to unfreeze to start a new app.

[ronstar7]

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@Ghoshida wrote:
Current lenders will not HP you if a freeze is in place. A freeze is generally put in place to avoid fraudulent applications arising out of identity theft. Even if a lender knows you, they do not take the risk of accepting a fraudulent application. Only when the lender has a policy of SP CLI, they will grant new credit in the form of a CLI. For any new app, or when a CLI needs a HP, the lender will ask you to remove the freeze.

I have had this experience with Chase (CLI), Discover, Citi, Capital One, and US Bank (new app). It gives you a moment to review whether you really want that HP. Extremely helpful when drapping.

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Not always true, my reports have been frozen and shell hp me twice for cli. I didnt notice, this was last year though. Lesson learned lol

[PointLager]

Three chase cards later I've only seen them HP EX. M
Does this mean I only need to unfreeze EX?

Or maybe if I only unfreeze TU it coaxes them into HP that one? I imagine this move may only work with issuers that pull multiple CRs

[Ghoshida]

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@PointLager wrote:
Three chase cards later I've only seen them HP EX. M
Does this mean I only need to unfreeze EX?

Or maybe if I only unfreeze TU it coaxes them into HP that one? I imagine this move may only work with issuers that pull multiple CRs

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Chase will ask for your EX in most cases.

If all are thawed, it may happily pull some of the others. For me, in the past, it was TU. My last two apps were EX only.

In my understanding, double pulls are meant for borderline applications. 

[Ghoshida]

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@ronstar7 wrote:

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@Ghoshida wrote:
Current lenders will not HP you if a freeze is in place. A freeze is generally put in place to avoid fraudulent applications arising out of identity theft. Even if a lender knows you, they do not take the risk of accepting a fraudulent application. Only when the lender has a policy of SP CLI, they will grant new credit in the form of a CLI. For any new app, or when a CLI needs a HP, the lender will ask you to remove the freeze.

I have had this experience with Chase (CLI), Discover, Citi, Capital One, and US Bank (new app). It gives you a moment to review whether you really want that HP. Extremely helpful when drapping.

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Not always true, my reports have been frozen and shell hp me twice for cli. I didnt notice, this was last year though. Lesson learned lol

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That is very weird.

In my understanding, none of my lenders were able to go through with the HP when a freeze was there, even though they had existing relationships with me. And this has been true for both new apps and CLI requests.