Can lenders undo hard pulls?

[too-much-time]

If a lender mistakenly pulls hard for a customer instead of soft, is it within the reach of this lender to submit an update request to the credit agency of soft? I would imagine that everyday stuff such as coding errors takes place and are sometimes corrected.

[09Lexie]

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@too-much-time wrote:

If a lender mistakenly pulls hard for a customer instead of soft, is it within the reach of this lender to submit an update request to the credit agency of soft? I would imagine that everyday stuff such as coding errors takes place and are sometimes corrected.

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Yes, they can submit the change with the CRAs from hp to sp

[azguy13]

Lexie is correct, but I rarely hear of it happening. I think I remember someone trying to do it with a car dealership but they were unsuccessful. Good luck to you if you try though! Let us know if you were successful or not.

[RobertEG]

The coding of inquires is not covered in the CRA credit reporting manual, as they are not considered the reporting of information to a CRA, but rather the opposite.... they are requests to see what others have reported.

I know of no publication or detailed information provided by the CRAs that details the coding of inquiries.

A party requesting a consumer credit report is only required under the FCRA to submit their statement of permissible purpose authorizing the CRA to provide the report.

That begs the question as to whether the inquiree must provide a code, or whether the CRA determines the appropriate code based on the stated permissible purpose.

If the CRA were solely responsible for the appropriate code, then all permissible purpose inquiries other than the so-called promotional inquiries would be coded as hard, as promotional inquiries are the only explicitly stated type of inquiry that the FCRA mandates cannot be shown in credit reports made available to others.

Since we all know that is not the case, then inqurees are apparently the source of coding.

That would suggest that the CRA has a code, for example, that reads "Consumer initiated request for credit, but exclude from view by others."

That is a highly unusual process, as it places in the hands of parties the subjective determination of iwhat information can be included in credit reports made available to others.  Showing of consumer iniitiation of new credit is justified as a scoring criteria by FICO, and yet that information is totally subjective in its inclusion.

Makes little sense to me.  The CRAs are usually very protective of attempting to maintain all relevant information in their credit reports, as exemplified by their policy that prior reporting should not be deleted based on payment of a debt.  That type of subjective deletion reduces the completeness and thus value of their reports.

Why the CRAs would partiipate in a process that permits inquirees to subjectively decide what they can include in their credit reports is a puzzle to me.

With no published guidelines or instructions on the coding of inquiries, it s a puzzle with no answer that I an aware of ......

[09Lexie]

Last year, I contacted Comenity Bank to close my barely used VS.  A few days later I received an alert the they HPd my EX. Livid, I contacted them and although they initially denied pulling my cr for a consumer requested account closure, the faxed credit report indicating the opposite to their records was enough for them to submit the updated information to EX. A few days later, the hp was reversed to a sp.  Still have no idea why they needed to sp for my request but I'm glad it was removed. 

[cflowers0115]

They can undo. I started an application w/ PenFed that I never completed and they did a Hard Pull, when I called about this, they removed it within the week.

[VirtualCuriosity]

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@cflowers0115 wrote:

They can undo. I started an application w/ PenFed that I never completed and they did a Hard Pull, when I called about this, they removed it within the week.

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Which is the same that happened to me.  Except,  Lake Michigan Credit Union refused to reverse the HP.  Which is exactly why I refused to bank with them.

[Marcos8]

Last June I was told on the phone by a BOA rep that a CLI request was a SP so I said what the heck...next day I had an alert that a HP had taken place. After a few phone calls BOA agreed to remove the HP and even sent me a conf letter indicating they had contacted all 3 bureaus and instructed them to remove the inquiry. They said it may take up to 30 days to complete the removal. After over a month with no removal I contacted the CRA's and was told that since the BOA letter did not contain my SS# that they could not process the request. I reached out to BOA again and was told they won't issue any docs with a person's SS# on them and that there was nothing more that could be done on their end. 

[Anonymous]

Marcos8:

I had a similar situation with FNBO because of a security freeze placed on my account. I requested they remove the HP and also requested that a letter be sent to me verifying that the HP request had been sent to the CRA. They sent me a letter without my SSN.

When the inquiry was not removed in a timely manner, I filed a complaint with the CFPB and attached the letter I received in email from FNBO. The CRA immediately removed the inquiry without question. You might try this route. There is no need to have a HP on your report that you did not authorize and were to told that would be removed. By the way, I am not a BOA fan.

[Divaofsongs]

Last month we were in Cabela's shopping and were approached by an employee asking if we wanted to apply for their credit card. I explained that we were rebuilding our credit and did NOT want any HP's so we declined. He said, "It is not a hard pull, maam, it is a soft pull." I said, "Are you sure?" He replied, "Yes, I am positive." I agreed to apply because it was only supposed to be a soft pull and took the word of the employee. Low and behold, a week later, I get an alert for a HP from Cabela's!

Can I call and request that they remove it, since their employee LIED to me and assured me it was a SP? I had 2 other people with me at the time as witnesses. If they don't remove it, I will file a BBB complaint against them because that is just wrong. I am pissed and I want it removed. Any suggestions?