Rental car inquiries

[Anonymous]

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ChrisGA43 wrote:
Maybe I'm missing something, but isnt the issue here whether or not the creditor, or rental agency in this case, has to 'notify' the consumer when they intend to pull a CR? When I opened my checking account I was told by the bank rep. that it would occur, and whenever I have rented a car in the past with my debit card the rental agent has always told me up front that it would occur. I was under the impression that there is a disclosure requirement involved anytime an entity is required to pull a CR on someone(hard or soft). Even my auto insurance agent informed me of this ahead of time. 5 points could be the difference between a good interest rate, or an even better one sans the 5 point drop.

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There is no such requirement that a consumer be notified.  If a creditor or insurance agent notifies you before they pull an inquiry for which they have PP, they are doing so as a courtesy, not because they are required to.

[RobertEG]

For those who have any lingering doubts on the true legal edification of the FCRA that Cheddar has been pounding into our heads, the FCRA clearly permits a credit pull for any consumer initiated transaction without consumer prior approval.  If  you enter into any business transaction, such as an auto rental, or perchance even the purchase of a book through Amazon, then the "Cheddar provision" is clear:

FCRA § 604. Permissible purposes of consumer reports [15 U.S.C. § 1681b]

(a) In general. Subject to subsection (c), any consumer reporting agency may furnish a

consumer report under the following circumstances and no other:

…….

(F) otherwise has a legitimate business need for the information

(i) in connection with a business transaction that is initiated by the

consumer; or

(ii) to review an account to determine whether the consumer continues to

meet the terms of the account.

Message Edited by RobertEG on 07-04-2008 12:34 AM

[Anonymous]

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RobertEG wrote:

For those who have any lingering doubts on the true legal edification of the FCRA that Cheddar has been pounding into our heads,

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LOL! My apologies if it comes across that way.

There are some things I am passionate about, many of my own opinions included!