hard vs soft inquiries

[mt2va]

I opened a new savings & checking account at a local credit union yesterday.  I knew they would pull my credit since a checking account was involved. I checked Equifax this morning & of course the hard inquiry was there. 

 

I called the credit union to ask since they already pulled a hard inquiry on me if they can consider me for a credit card & the girl I spoke with insisted they did not pull a hard inquiry but rather a soft inquiry.  I kept telling her it was a hard inquiry because I saw it myself on my credit report. 

 

So I guess my question is how can they keep insisting it is a soft inquiry when its not & saying they can’t use that inquiry to determine my credit worthiness because it wasn’t a hard inquiry even though it was??  I told them I absolutely do not want another hard inquiry pulled on me. 

I know some places (NFCU is one) that pull on every credit product but she didn't say that was their policy.  She just kept claiming that the inquiry they pulled was only to verify my identity (soft) & not to grant me credit (hard).

[jackg]

You would be amazed at the number of people who don't know about hard and soft, some are not aware of inquiries at all. And, you would expect that an employee of a bank or a credit union would know about these things, but I have shared your experience. What you experienced is not unusual.

[Anonymous]

You spoke with a mistaken CSR who "thinks" she knows the answer, but obviously is mistaken.  There is not sense in arguing with somebody who is convinced of their own position as infallible.

However, you could ask to speak to a supervisor or branch manager and say, "I'm really happy to hear that it is your policy to only pull a soft inquiry for savings and checking accounts.  Can you please fix this hard inquiry on my CR?  Obviously it was mistakenly miscoded when it was pulled.  Thanks so much!"

LOL see where that get's you

[terrymurph]

THERE ARE SEVERAL BUSINESS WHO DO THIS. LET ME KNOW HOW THIS WORKS OUT FOR YOU. I'VE HAD SIMILAR ISSUES WITH COMPANIES

[mt2va]

Funny store I just wanted to update.  So anyway keeping in mind they claimed to have only verified my identify (soft inquiry) & not pulled my credit report (hard inquiry) the gal I spoke with called back to ask what my status was with Swiss Colony which is a charge off I've been trying forever to get off my credit report.  (long story as I've disputed & it keeps coming back verified, I've filed complaints with the BBB, etc & I'm just not paying it as its not mine & they can't prove it is)  Anyway so if they didnt' actually pull my credit report how did they see my Swiss Colony charge off??

Also  when I was talking about the CC app she said the minimum was $2,000 which I knew they would never approve but when she called me back she told me I would have been approved for $500 if I could prove I had paid off Swiss Colony.

I am so done with this CU.  They were good to me once but ever since then have gone down hill.  They seem like they want business though.  They have this huge billboard up on my way to work I see every day with a picture of one of their employees sitting behind his desk & shooting a wad of paper into his wastebasket with a comment that "Dave is bored & wants to lend you money"  They have another sign when you are driving the opposite direction on that road that they have $50 million dollars to lend.  Yeah I guess not to me though. 

That's okay I'm more than happy with what NFCU has done for me.  I've reached all my current goals to get a CC (have 4 now) & re-fi my car loan (now at 11.5 from 21+% interest). 

Message Edited by mt2va on 07-19-2009 06:54 AM