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Cell phone carrier credit pull

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Established Contributor

Re: Cell phone carrier credit pull


@Peter1142 wrote:
Are you sure? That sounds very strange. On all 3 CRAs...

You should file a dispute. It was not a request for credit.

If this kind of thing shows up while you are apping for a mortgage, unless you are qualifying by a few points, no big deal it is easily explained and does not affect DTI.

...would not have posted it if I wasn't sure ...all 3 CRAs ...anytime you open an account with a utility its a request for credit ...you can't dispute inquiries with the CRAs, they'll give you a canned response and the mailing address of the originator ...the t-m inquiry pissed me off because I have a lot of inquiries on my file due to rebuilding during the past year and didn't need another while applying for a mortgage ...explanations only apply if you are forced into the manual underwriting process ...but inquiries could be the difference in getting auto approved ...minor, yes ...piss me off, damn right it did Smiley Mad


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Last HP: 11/04/15 | myFico 3B Jun 10 '15:FICO8 EQ - 752 | TU - 763 | EX - 750
Message 11 of 25
Established Contributor

Re: Cell phone carrier credit pull

I disagree. Opening an account with a utility is not a request for credit. That's why they are allowed to soft pull a new customer. And I think it is very strange for a utility to pull all 3 CRAs, nevermind hard pull... waste of their money.

You absolutely need to explain new inquiries that occur during underwriting, or very recently before applying (90 days I think) even with automated approval, you need to show there won't be a new account popping up to hit your DTI. Even with automated approval an underwriter is still looking at your file, though not going over it with a fine toothed comb.
Message 12 of 25
Established Contributor

Re: Cell phone carrier credit pull


@DallasLoanGuy wrote:

it is a soft pull.  i cant see it when i pull credit

 


Sorry, but that isn't true in all cases. TMobile hard pulled my TruansUnion Report when I switched from Sprint. So, it is somewhat dangerous to provide such advice.

 

With that being said, it should not hurt you that bad. Especially if you are not looking to get pre-approved until next summer.

FICO® EQ 717 (3/5/15); TU08 732 (3/5/15); EX: 723 (3/5/15) - Last app 3/15/15; Inquiries: A TON!

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Starting Scores: 590s on 12/2013. Hover over card image to view details! *After Amex approvals - [I was supposed to be] Gardening!*
Message 13 of 25
Established Contributor

Re: Cell phone carrier credit pull


@Peter1142 wrote:
I disagree. Opening an account with a utility is not a request for credit. That's why they are allowed to soft pull a new customer. And I think it is very strange for a utility to pull all 3 CRAs, nevermind hard pull... waste of their money.

You absolutely need to explain new inquiries that occur during underwriting, or very recently before applying (90 days I think) even with automated approval, you need to show there won't be a new account popping up to hit your DTI. Even with automated approval an underwriter is still looking at your file, though not going over it with a fine toothed comb.

...disagree all you want, its a request for credit unless you're making a deposit upfront ...why else would they pull your credit report, eh? ... as for the rest, tell it to TM Smiley Frustrated


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Last HP: 11/04/15 | myFico 3B Jun 10 '15:FICO8 EQ - 752 | TU - 763 | EX - 750
Message 14 of 25
Valued Contributor

Re: Cell phone carrier credit pull

when we moved earlier this year, we transferred our cable service and changed service plan during the time of move.  Comcast did a hard pull on my credit report....the inquiry shows on Equifax nice and big as 'Utilities and Fuel'.

 

I didn't even bother to dispute it....didn't want the hassle of a disputed item showing up during mortgage process.

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Message 15 of 25
Established Contributor

Re: Cell phone carrier credit pull


@Peter1142 wrote:
I disagree. Opening an account with a utility is not a request for credit. That's why they are allowed to soft pull a new customer. And I think it is very strange for a utility to pull all 3 CRAs, nevermind hard pull... waste of their money.

You absolutely need to explain new inquiries that occur during underwriting, or very recently before applying (90 days I think) even with automated approval, you need to show there won't be a new account popping up to hit your DTI. Even with automated approval an underwriter is still looking at your file, though not going over it with a fine toothed comb.

T-Mobile is definitely pulling an HP for the account, albeit in my case, only on TU.

 

t-mobile HP.PNG

 

Especially if you are looking to get a new phone for which you don't pay the whole thing up-front (this wasn't the case for me, but we had multiple lines). I was told ahead of time that it will be an HP, and was told by the sales person that it will be on all 3 CRAs, but only showed up on TU.

FICO® EQ 717 (3/5/15); TU08 732 (3/5/15); EX: 723 (3/5/15) - Last app 3/15/15; Inquiries: A TON!

CITI ThankYou Preferred - CL: $2,000




Starting Scores: 590s on 12/2013. Hover over card image to view details! *After Amex approvals - [I was supposed to be] Gardening!*
Message 16 of 25
Established Contributor

Re: Cell phone carrier credit pull

Wow.. that sure has never happened to me. Or my wife. Just got Verizon a few months ago.. and sign up with utilities and car insurance etc all the time. Definitely not typical for most.

And your right there is little point to dispute it, as it is unlikely to hurt your score more than a couple points, unless you are racking up the inquiries.
Message 17 of 25
New Contributor

Re: Cell phone carrier credit pull

We're going to try possibly as early as this June. Maybe staying with att for now would be the best idea. Sounds like conflicting opinions on this one

Message 18 of 25
Established Contributor

Re: Cell phone carrier credit pull


@Irishforme wrote:

We're going to try possibly as early as this June. Maybe staying with att for now would be the best idea. Sounds like conflicting opinions on this one


...look at a no contract plan ...I dropped ATT after hurricane Wilma because they took weeks longer than other carriers to fully restore service in my area ...much better service in the areas that matter to us ...the bottom line though is that my total costs are much lower than they were with either Verizon or ATT ...went no contract when they first offered the plan and been very happy with it 

Helpful Links: Do I Qualify? | Mortgage Calculator | USDA Mortgages | Opt Out | FICO Versions
Last HP: 11/04/15 | myFico 3B Jun 10 '15:FICO8 EQ - 752 | TU - 763 | EX - 750
Message 19 of 25
Moderator Emerita

Re: Cell phone carrier credit pull


@Lemmus wrote:

@Irishforme wrote:

We're going to try possibly as early as this June. Maybe staying with att for now would be the best idea. Sounds like conflicting opinions on this one


...look at a no contract plan ...I dropped ATT after hurricane Wilma because they took weeks longer than other carriers to fully restore service in my area ...much better service in the areas that matter to us ...the bottom line though is that my total costs are much lower than they were with either Verizon or ATT ...went no contract when they first offered the plan and been very happy with it 

You might be in my area...I remember Hurricane Wilma all too well....

 

Back to the point of this thread - there will be some phone and other services that have HPs and some will be soft pulls. In any event, the lender is not going to think anything of it at all. Worst case is you have to provide a LOE if it is during your mortgage approval process.

 

A mortgage lender gets worried if you are running up debt, not if you are making application for services for the new home (power, water, cable etc) or other normal day-to-day services (phone or internet).

Message 20 of 25
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