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Free report/score after applying?

gbishere
Established Contributor

Free report/score after applying?

I applied for a card with my CU and they pulled Experian. 

 

Can I now request score and report from experian? 

 

This would not count as my free yearly report?

 

Thanks guys

__________________________
01/11/2011: FICO:TU: 746
12/14/2010: FICO:EQ: 744
08/12/2011: FICO:EXP: 766
Message 1 of 5
4 REPLIES 4
haulingthescoreup
Moderator Emerita

Re: Free report/score after applying?

If you were denied, you'd be entitled to your report.

 

Beginning in January, if you were denied, you'd be entitled to your report and  to the score used if that was used to decline you.

 

Since you were approved, you're not entitled to anything.

 

Every now and then, a CSR will tell you your score, but that's very very rare.

 

 

edited to correct a boo-boo

* Credit is a wonderful servant, but a terrible master. * Who's the boss --you or your credit?
FICO's: EQ 781 - TU 793 - EX 779 (from PSECU) - Done credit hunting; having fun with credit gardening. - EQ 590 on 5/14/2007
Message 2 of 5
MattH
Senior Contributor

Re: Free report/score after applying?

 


@haulingthescoreup wrote:

If you were denied, you'd be entitled to your report.

 

Beginning in January, if you were denied, you'd be entitled to your report and to the score used.

 

Since you were approved, you're not entitled to anything.

 

Every now and then, a CSR will tell you your score, but that's very very rare.


 

I believe in January there will also be a provision that says if somebody is approved but on terms less favorable than what that lender offers prime borrowers they must disclose the fact that the borrower got unfavorable terms and the basis for the terms this borrower got.  There are several possible formats for this disclosure, one of which includes the credit score used as a basis for the loan decision.

 

TU 791 02/11/2013, EQ 800 1/29/2011 , EX Plus FAKO 812, EX Vantage Score 955 3/19/2010 wife's EQ 9/23/2009 803
EX always was my highest when we could pull all three
Always remember: big print giveth, small print taketh away
If you dunno what tanstaafl means you must Google it
Message 3 of 5
haulingthescoreup
Moderator Emerita

Re: Free report/score after applying?

 


@MattH wrote:

 

I believe in January there will also be a provision that says if somebody is approved but on terms less favorable than what that lender offers prime borrowers they must disclose the fact that the borrower got unfavorable terms and the basis for the terms this borrower got.  There are several possible formats for this disclosure, one of which includes the credit score used as a basis for the loan decision.


 

 

Thanks for expanding on this! I realized that I had made a mistake on my post, but I couldn't find it to save my neck.

 

I'm trying to imagine what it will be like for the CSR's when this happens. Phone call after phone call, with applicants yelling, "You turned me down with a 712 Equifax FICO, but the guy at the water cooler got the same card with a 6-month 0% initial APR with a 708!"

 

Yikes, there's going to be some openings in CC call centers, I think.

* Credit is a wonderful servant, but a terrible master. * Who's the boss --you or your credit?
FICO's: EQ 781 - TU 793 - EX 779 (from PSECU) - Done credit hunting; having fun with credit gardening. - EQ 590 on 5/14/2007
Message 4 of 5
MattH
Senior Contributor

Re: Free report/score after applying?

 


@haulingthescoreup wrote:

 


@MattH wrote:

 

I believe in January there will also be a provision that says if somebody is approved but on terms less favorable than what that lender offers prime borrowers they must disclose the fact that the borrower got unfavorable terms and the basis for the terms this borrower got.  There are several possible formats for this disclosure, one of which includes the credit score used as a basis for the loan decision.


 

 

Thanks for expanding on this! I realized that I had made a mistake on my post, but I couldn't find it to save my neck.

 

I'm trying to imagine what it will be like for the CSR's when this happens. Phone call after phone call, with applicants yelling, "You turned me down with a 712 Equifax FICO, but the guy at the water cooler got the same card with a 6-month 0% initial APR with a 708!"

 

Yikes, there's going to be some openings in CC call centers, I think.


 

Here's a little more detail on the risk-based-pricing disclosure rules from an industry newsletter and a law firm:

http://www.collectionscreditrisk.com/news/risk-based-pricing-regulations-what-creditors-need-to-know...

http://www.mofo.com/files/Uploads/Images/100402Pricing.pdf

 

The nickel summary is, a lender must choose between (1) sending a specific disclosure to those customers who got subprime treatment about how the terms they got differed from terms offered to customers with good credit, or (2) sending every customer a disclosure of their actual credit score (and it cannot be a FAKO, it must be what that lender actually uses to make credit decisions) and statistics on the score distribution of their customers.

 

I hope more lenders opt for the second choice, because that one might actually let me see my EX score again.

 

 

TU 791 02/11/2013, EQ 800 1/29/2011 , EX Plus FAKO 812, EX Vantage Score 955 3/19/2010 wife's EQ 9/23/2009 803
EX always was my highest when we could pull all three
Always remember: big print giveth, small print taketh away
If you dunno what tanstaafl means you must Google it
Message 5 of 5
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