Capital One ?

[Anonymous]

I noticed Capital One is pulling my credit every month - is it because they are hoping I default or something on my auto loan?  I have read how CC are going with the universal default and I'm just curious as to why they'd be doing it.  They are monitoring my credit and I don't want to ask for an increase because my score would drop then

Thanks for any thoughts!

[Tuscani]

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beach123 wrote:

I noticed Capital One is pulling my credit every month - is it because they are hoping I default or something on my auto loan?  I have read how CC are going with the universal default and I'm just curious as to why they'd be doing it.  They are monitoring my credit and I don't want to ask for an increase because my score would drop then

Thanks for any thoughts!

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These are soft pulls right?

[smallfry]

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@Tuscani wrote:

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@Anonymous wrote:

I noticed Capital One is pulling my credit every month - is it because they are hoping I default or something on my auto loan? I have read how CC are going with the universal default and I'm just curious as to why they'd be doing it. They are monitoring my credit and I don't want to ask for an increase because my score would drop then

Thanks for any thoughts!

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These are soft pulls right?

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I get soft pulls from them monthly. Must be offers I don't qualify for. BTW what info does the inquirer not see on a soft pull that they do see on a hard pull?

[Anonymous]

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smallfry wrote:

I get soft pulls from them monthly. Must be offers I don't qualify for. BTW what info does the inquirer not see on a soft pull that they do see on a hard pull?

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CapOne is either snooping to see if you should be subject to UD (although they claim they don't engage in UD) or checking you out for offers.  You may not qualify for a certain offer -- they may be looking for someone whose credit is WORSE than yours!

I believe they see the same info either way; the categorization of the pull merely determines where it ends up on your reports.  They (these third party inquirers) do not see your other soft pulls.  I'll bet they wish they could!

[Anonymous]

I believe they are soft pulls but I honestly am not sure why I wouldn't qualify, my account has been in great standing with them for the past 5 years...albeit I had two other puny accounts and combined all (3) so I only had to pay one stupid annual membership.  Unfortunately, the one I closed was the one that had been opened the longest...although it still shows on my reports.

I went with the one I did because it was the best interest rate.

Are you saying I shouldn't really worry about soft pulls?

Thanks again!

[Tuscani]

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beach123 wrote:

I believe they are soft pulls but I honestly am not sure why I wouldn't qualify, my account has been in great standing with them for the past 5 years...albeit I had two other puny accounts and combined all (3) so I only had to pay one stupid annual membership.  Unfortunately, the one I closed was the one that had been opened the longest...although it still shows on my reports.

I went with the one I did because it was the best interest rate.

Are you saying I shouldn't really worry about soft pulls?

Thanks again!

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Right soft pulls do not hurt you.

[Anonymous]

Again, thank you  I am SO glad I found this board!

[Anonymous]

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beach123 wrote:

I believe they are soft pulls but I honestly am not sure why I wouldn't qualify, my account has been in great standing with them for the past 5 years...

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They may be looking for people whose credit is NOT in great standing.

[Anonymous]

So they just pull every account?  I have to say I am one of those people that seem to have the luck of NO IRISH if you know what I mean...I am a very positive person and every time I think I'm gaining ground, boom  I think I have the "cloud" or "stupid sticker" on my forehead some times...learned to be quite cautious of everything!

[Anonymous]

Soft pulls don't hurt, and if you get enough of 'em they help.