@M_Smart007 wrote:
Yes it's true, I pulled mine a few weeks back, I just need interpretation on what it means.
I see waht banks/CU's pulled it. but know real way of knowing how it is evaluated???
Some banks and (more likely) credit unions will deny you an account just based on the number of inquiries you have. I do bank account bonuses regularly so my inquiries are LOL/24 (a bunch) and I've been denied only once in the past couple of years, a conservative AZ CU that I really shouldn't have bothered with. But there's also a Chex System score that banks/CUs are more likely to use, but the free online Chex report doesn't give you that, you still have to request that by submitting a form by mail or fax and it will be mailed to you.
I pulled my Chex report online and it looks very different then the Chex report DCU provided me when they approved my membership and car loan in Oct. 2017. That DCU report is likely what banks see, and provides a score and details of Total Closures with Disputed, Paid, Unpaid, Partially Paid & Sold; Closure Details; and much more concise reporting on inquires - mine had: "Total Number of Inquiries: 8 Number of Inquiring FI's: 7". And my score was 815 on a scale of 100 to 899, I'm sure my score is lower now with over a dozen new inquiries in the last two years, but then I've never had any negative banking incident - overdraft, closed account with negative balance, etc. Just alot of accounts.
And remember only smaller banks and credit unions use Chex, larger banks like Chase, Wells Fargo, BoA, etc. use a competing service - EWS, Early Warning System.
