DCU hard pulled when said they wouldnt

[cartwrna]

So, I refinanced a car with DCU a few weeks back. They specifically told me that the pull was good for 45 days. I refinanced another yesterday and asked if he would use old pull and he said yes he just needs permission to pull and it will be the old one, I told him yes as long as not a new hard pull and he specifically said it wouldn't be. I woke up this morning to a new hard pull from them. Any way I can fix this?

[RobertEG]

Your issue is one of compliance with a private agreement.

Under the FCRA, they had permissible purpose to make their inquiry, so did not need your express permission.

Inquires pertaining to requests for credit can be coded as hard.

I would call their exec. office and make and informal complaint.

Credit inqiries are exempted from the direct dispute process, and the CRAs will verify the accuracy of disputes pertaining to inquiries unless you show they did not have permissible purpose.

[CH-7-Mission-Accomplished]

DCU has the power to remove the HI if they want to.  I would call them.  Speak first to the person you worked with (if you know their name) and then escalate it.

The fact that they are allowed to do a HI isn't the point here.  They said they wouldn't and that is an oral contract.

[cartwrna]

Well I'll wait until I finalize my last refinance Monday and then go that route lol. Don't want any issues with it :-/

[pipeguy]

---

@cartwrna wrote:
Well I'll wait until I finalize my last refinance Monday and then go that route lol. Don't want any issues with it :-/

---

Just want to add IMO hard pulls should be used for something positive, something that helps your current credit situation - be that a new credit card or a better deal on a car loan, etc. I understand that you were told that they would not do a second HP, and yes I'd make a mild complaint - but not a big stink. In this case the extra HP will result in I assume considerable savings as a benefit with a lower rate (aka real $$ saved) on your auto loan - so IMO the result of "using" a HP is positive and worth it.

Frankly I think some folks put too much weight on using HP's - their usage-effect is temporary on scoring. Fair Disclosure: I have a lot of HP's and after about 5 there is no additional scoring penalty as far as I can tell.

[cartwrna]

I have 58 hard pulls, hence why I don't want anymore. I called to get the link to upload my payoff information so check could be sent and made mention of this. The guy put me on hold to say he would send request for it to be reversed. He also mentioned that two supervisors said it shouldn't have been pulled since my last report was only 13 days old. It was a 3rd party who originally approved my loan (didn't know they did this) which is why I hadn't received link for payoff information. The DCU guy I spoke with was able to push it all through and get me fixed up

[pipeguy]

Good News ! 

I really (!) do like doing business with DCU they have always treated me well. 

Note too,  that my comment on Hard Pulls was meant to be in general - I was not intending to "dump" on your post or situation.

---

@cartwrna wrote:
I have 58 hard pulls, hence why I don't want anymore. I called to get the link to upload my payoff information so check could be sent and made mention of this. The guy put me on hold to say he would send request for it to be reversed. He also mentioned that two supervisors said it shouldn't have been pulled since my last report was only 13 days old. It was a 3rd party who originally approved my loan (didn't know they did this) which is why I hadn't received link for payoff information. The DCU guy I spoke with was able to push it all through and get me fixed up

---

[cartwrna]

I understand, no worries. Just kind of dumbfounded me that they said it wouldn't result in one and did. Had they said it would be a hard pull I would have taken it either way and been happy. They saved me about $200 on this car loan monthly and $240 a month on loan I refinanced with them a few weeks ago. 18% interest rates down to 1.49%! They're okay in my book

[RobertEG]

Such "promises" are not always due to deceptive intent.

Other than inquiries related to unsolictied offers for credit, there is no regulation of coding of credit inquires as so-called hard or soft.

The CRAs do not even publish guidelines, and it is secretive as to how an inquiry that is otherwise eligible for coding as hard can be reported and coded as soft.

The absence of any clear guidelines or regs cleartly causes confusion and lack of knowledge by customer service reps.

[Anonymous]

---

@cartwrna wrote:
So, I refinanced a car with DCU a few weeks back. They specifically told me that the pull was good for 45 days. I refinanced another yesterday and asked if he would use old pull and he said yes he just needs permission to pull and it will be the old one, I told him yes as long as not a new hard pull and he specifically said it wouldn't be. I woke up this morning to a new hard pull from them. Any way I can fix this?

---

Multiple HPs for an auto loan in a given 45 day period will only impact your score once. I think that may have been what the DCU rep meant. In your case, if you have 58 pulls, additional pulls have zero effect on your score and this provision provides you no help. The 45 day window (or 14 days by older FICO models) is not something handled by lenders. When lenders pull a score with an auto loan code in the request, FICO automatically counts all inquiries within the window as one. Your credit report, however, is not impacted by FICO model changes since FICO does not control your report. Your report will still show multiple unique HPs. FICO and CRAs are not one and the same. A change to a FICO scoring model does not impact how CRAs collect and provide information. 

Call DCU and ask them to remove it by referencing the conversation. They likely recorded the conversation and can review it. If their rep stated the old report they have is good enough for 45 days and they won't need a new one, you can likely get it removed. However, if the rep told you something less clear regarding FICO not counting it as a HP, you have a weaker case since FICO does not count it as an additional HP that effects your score, but the CRAs will still show the HP on the CR.