How can lenders run my credit if I do not ask for a loan from them?

[joeykaplan]

American General here in my city just came to me as an alert, they ran my credit? I haven't been there or asked them for any kind of a loan?

Also, Crapital One did the same thing, and a few more all at once? I did sign up for two new cc's, I am very confused, concerned right now? I wrote down the number to the local AMGen and plan on calling them this morning to inquire how it is they ran my credit?

[Tuscani]

They cannot pull hard inquiries without permissible purpose. If they did you are $1000 richer for each one.

See: http://ficoforums.myfico.com/fico/board/message?board.id=generalcredit&thread.id=3900

[joeykaplan]

It showed up as an alert, and I would never use Am Gen for ANYTHING. I know better than to swim with those sharks.. this pisses me off and I have their number.

[Tuscani]

How did you get said alert? Did you verify that there actually is an inq on your report from them?

[Anonymous]

You may have become a "trigger lead."  As you know, when you apply for a mortgage, your lender requests credit reports.  This tells the CRAs that you are shopping for a home loan.

The CRAs then SELL you as a potential lead to other lenders.  Those other lenders buy these leads from the CRAs based on their specirfications -- buyers with a certain credit profile.  This practice is currently legal but some states are trying to out law it.  Consumers claim it's a privacy invasion; however some regulators say that competition in the home loan industry is a good thing.

[Anonymous]

If hard inquiry dispute, soft does not matter, normal. Also if hard, investigate to see if someone used your social with out you knowing.

Also sometimes they can run your credit when you turn on electric, water, rent, get a job, ect. They usually state it somewhere in tiny print.

Message Edited by ilovepizza on 05-18-2007 01:16 AM