Cell Phone & other Credit inquiries

[eyesopen]

I recently applied for T-Mobile, couldn't get reception so cancelled (within time limit) - then wnet to Verizon. Both cell companies ran a credit check.

Then I had to get a Corporate Card through Diners - approved by manager - anyone care to guess how many hard hits I should expect?

If you say 3 - well I don't see them -

Is there any chance the cell phone inquiries were soft inquires?

Many thanks.

[MidnightVoice]

Mine from Cingular as was were both hard inqs - one from getting a phone, one 6 months later for adding a line

[fused]

My wife has T-Mobile and they pulled a hard inq on her TU report.

[tray]

Double check your credit reports all cell phone accounts opened new are hard hits, opened a T-Mobile account in December last year hard pull TU, my score even tanked because of this.

[fused]

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@tray wrote:

Double check your credit reports all cell phone accounts opened new are hard hits, opened a T-Mobile account in December last year hard pull TU, my score even tanked because of this.

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Tanked? How many points did you lose for the one hard inq on TU?

[RobertEG]

There is always a chance of an inquiry being coded as soft. 

The FCRA never uses the terms "hard" or "soft" inquiry, and how an inquiry is coded is not regulated, and is thus entirely up to the one making the inquiry.

The only type of legitimate inquiry that the FCRA regulates are promotional inquiries that are made for the purpose of soliciting new credit.

This requires specific coding because this is the one type of inquiry for which the CRA can only provide them your name and address, and not your full credit report.

Through common practice, creditors almost always code inquires related to employment checks, and normal, periodic reviews by an existing creditor that does not invlove a request for new credit, as "soft" inquiries.

Credit inquiries pertaining to business transactions initiated by the consumer, or requests for new or additional credit, most usually get a hard pull, but again, this is discretionary.

[Anonymous]

Thanks all. Just pulled my TU score and the T-Mobile is there - Verizon might show next month. No issues though - both scores are still good.

Thanks again!

TU-774

EQ-773

[tray]

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@fused wrote:

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@tray wrote:

Double check your credit reports all cell phone accounts opened new are hard hits, opened a T-Mobile account in December last year hard pull TU, my score even tanked because of this.

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Tanked? How many points did you lose for the one hard inq on TU?

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When the cell phone inquiry hit my report it was a 8 point score drop. only had 3 inquiries prior

[fused]

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@tray wrote:

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@fused wrote:

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@tray wrote:

Double check your credit reports all cell phone accounts opened new are hard hits, opened a T-Mobile account in December last year hard pull TU, my score even tanked because of this.

---

Tanked? How many points did you lose for the one hard inq on TU?

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When the cell phone inquiry hit my report it was a 8 point score drop. only had 3 inquiries prior

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8 points for one inq is a lot. In the past, have lost 8 points for one hard inq on TU. Do you have very high FICOs?