Does freezing the secret bureaus have an impact on apps?

[leo187um]

I get super annoyed when an algorithm raises my application due to personal info discrepancies (old addresses/phone numbers/etc). 

Does freezing the credit reports from the secret bureaus or outright opting out from sharing my personal info  (LexisNexis, Innovis, corelogic, etc) have any adverse impact on credit card & other loan applications? 

[FinStar]

---

@leo187um wrote:

I get super annoyed when an algorithm raises my application due to personal info discrepancies (old addresses/phone numbers/etc). 

Does freezing the credit reports from the secret bureaus or outright opting out from sharing my personal info  (LexisNexis, Innovis, corelogic, etc) have any adverse impact on credit card & other loan applications? 

---

Yes, in a variety of cases and depending on the lender that may have access to them. They're really not "secret bureaus" per se because the public and financial institutions have access to them. They're simply considered third party consumer agencies.

[leo187um]

Yes, understand they are not secret..so better not to freeze/opt-out when applying? I have a bunch of old numbers/addresses I need to clean up and the bureaus are all very irritating to deal with to say the least.

[FinStar]

---

@leo187um wrote:

Yes, understand they are not secret..so better not to freeze/opt-out when applying? I have a bunch of old numbers/addresses I need to clean up and the bureaus are all very irritating to deal with to say the least.

---

Correct. Just leave them open/thawed during any potential application(s). Once you learn the full outcome of any application (approved/denied), then you can freeze as you wish. The issue some applicants run into is prematurely freezing them when an application is in flight or that hasn't been fully processed all the way.

 I would agree that cleaning up things is a very painstaking process when dealing with any given discrepancies among all of those reporting agencies.

[EAT_SLEEP_JEEP]

---

@leo187um wrote:

I get super annoyed when an algorithm raises my application due to personal info discrepancies (old addresses/phone numbers/etc). 

Does freezing the credit reports from the secret bureaus or outright opting out from sharing my personal info  (LexisNexis, Innovis, corelogic, etc) have any adverse impact on credit card & other loan applications? 

---

I locked all of ours including chex systems a good while back. Recently I decided to take advantage of a targeted offer from Wells Fargo to open a checking account and receive $325. I assume they were sending it as we have had a auto loan in the past with them and have a Propel Card currently. I apped online for the checking account forgetting i had all the locks in place and in resulted in us having to go into a branch after i unlocked everything to be verified and open it. A definite hassle vs doing it online.

[805orbust]

@leo187um  the only thing that I had happen was I used a soft approval tool a year ago on the Truist website and they were unable to verify my identity which I assumed meant they couldn't access one of the minors... didn't *need* it anyway 😉

I actually found LN, Innovis, Sagestream to be MUCH more accurate than the big 3.

[C6]

The only denial I ever received was for the Paypal MC. They denied me because Sagestream was frozen even though they pulled TU with 760+ score. I froze Lexis, sagestream, etc. more than 15 years ago and have never looked back. As far as I'm concerned, Syncrony can keep their subprime card. I don't have any Syncrony cards and really have found no need for them. 

[Anonymous]

@805orbust

"I actually found LN, Innovis, Sagestream to be MUCH more accurate than the big 3."

Interesting as my LN is 52 pages with many addresses that are one number or letter off. Decided it was more than I wanted to take on and left it.

Also, know some FIs do check more than the CBs so freezing 3rd party files can be hit or miss on approvals.

[Anonymous]

@805orbust

Feel fortunate that the FIs don't know us ... ? We may NEVER get approvals