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When credit file is actually created?

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When credit file is actually created?

1. The person has never had a credit before, so he does not have credit file. He applied for a credit card and got Hard Inquiry (possibly in all 3 Credit Bureaus). He got declined.

Question 1: Does he have a credit file in Credit Bureaus after that?

2. In 2 months he applied again for a credit card and got Hard Inquiry (possibly in all 3 Credit Bureaus). He got approved. He definitely got a credit file.

Question 2: How many Hard Inquiries does he have? (I believe it depends on the answer on Question 1).

 

Basically I wonder at what point in time credit file are created. When exactly does Credit Bureau create a file in its database with all the consumer data like name, dob, ssn, address?

Message 1 of 10
9 REPLIES 9
Senior Contributor

Re: When credit file is actually created?

Have him join Credit Karma to see how many inq's he has. But not for the scores. Ignore them. Once all his info hits the CRA's for the first time. Thats usually starts it all along with other factors.





My posts are JMHO. I DO NOT claim to be a FICO expert. Just sharing my experiences from rebuild to recovery after BK DC. My siggy is not to brag at all. Just to show fellow members what can be accomplished when you do it right and play the FICO Credit Game.
Message 2 of 10
Established Contributor

Re: When credit file is actually created?


@ildarcheg wrote:

1. The person has never had a credit before, so he does not have credit file. He applied for a credit card and got Hard Inquiry (possibly in all 3 Credit Bureaus). He got declined.

Question 1: Does he have a credit file in Credit Bureaus after that?


Yes. Including any details the lender supplied, including potentially employer.

 


@ildarcheg wrote:

2. In 2 months he applied again for a credit card and got Hard Inquiry (possibly in all 3 Credit Bureaus). He got approved. He definitely got a credit file.

Question 2: How many Hard Inquiries does he have? (I believe it depends on the answer on Question 1).


Exactly as many as the number of times his report(s) were pulled. (No, an initial pull of a "blank"/new report isn't a freebie.)

 


@ildarcheg wrote:

Basically I wonder at what point in time credit file are created. When exactly does Credit Bureau create a file in its database with all the consumer data like name, dob, ssn, address?


As soon as a lender (any lender) sends that data to the CRA.  This can include information sent as part of an HP request, regular monthly reporting of an open tradeline, or even a negative item (unpaid electric bill, for instance)... even if the report did not previously exist.

 

Since the CRAs are separate, it's possible for someone to have a report on one CRA, but not (yet) another.

 

EQ8:850 TU8:849 EX8:847
EQ9:850 TU9:848 EX9:850
EQ5:809 TU4:791 EX2:806 - 2019-08-15
Message 3 of 10
New Member

Re: When credit file is actually created?

Thanks!

So, HP creates credit file in Bureau it was sent. How do you know that? I tried to google that but all I got is about "how to check your score" etc, nothing related "the moment file created". And what about SP? For example same guy never had a credit and that registered on Credit Carma and got 3 soft pulls. Will be file created in this case? 

Message 4 of 10
New Member

Amount of data that lender receives after HP and SP

As I know, the difference with between HP and SP is the type of request, and HP is marked as "credit request" and affects your credit score. But what is about the data inside credit report that lender receives after HP and SP? Is it the same? 

Message 5 of 10
Valued Contributor

Re: Amount of data that lender receives after HP and SP

Same data; the HP just leaves a mark that can be seen.




Garden goal: keep on keepin' on until 2020.
Message 6 of 10
Community Leader
Super Contributor

Re: When credit file is actually created?

If there is no data, nothing can be SPed. With CK, you manually entered your personal info and demos, then CK would attempt to SP TU and EX. 

Creating an account on CK and having CK soft pull those two will not create a file on three major CRA. 

As stated above, that has to be lender provided, either via initial HP or reporting TL. 

 

SP and HP contain same data, but may vary in purpose. 

EX 753 EQ 773 TU 752
Message 7 of 10
Valued Contributor

Re: When credit file is actually created?


@Remedios wrote:

If there is no data, nothing can be SPed. With CK, you manually entered your personal info and demos, then CK would attempt to SP TU and EX. 

Creating an account on CK and having CK soft pull those two will not create a file on three major CRA. 

As stated above, that has to be lender provided, either via initial HP or reporting TL. 

 

SP and HP contain same data, but may vary in purpose. 


Always thought it was TU & EQ

Message 8 of 10
Community Leader
Super Contributor

Re: When credit file is actually created?


@M_Smart007 wrote:

@Remedios wrote:

If there is no data, nothing can be SPed. With CK, you manually entered your personal info and demos, then CK would attempt to SP TU and EX. 

Creating an account on CK and having CK soft pull those two will not create a file on three major CRA. 

As stated above, that has to be lender provided, either via initial HP or reporting TL. 

 

SP and HP contain same data, but may vary in purpose. 


Always thought it was TU & EQ


Yeah, I miss typed. . Thanks for pointing it out 

EX 753 EQ 773 TU 752
Message 9 of 10
Frequent Contributor

Re: When credit file is actually created?


@ildarcheg wrote:

 

Basically I wonder at what point in time credit file are created. When exactly does Credit Bureau create a file in its database with all the consumer data like name, dob, ssn, address?


I started building credit (not rebuilding) with no credit history on December 7, 2017 when I moved all my checking/savings to a local credit union.

 

They did a hard pull on that date just to approve me for a 'cash back checking account'. In March of this year I used annualcreditreport.com to get all 3 credit reports from EQ/TU/EX.

 

On my hard copy TransUnion report it says "You have been on our files since 12/07/2017"

 

So it looks like the hard pull created the file.

27 FICO Scores + 3 VS3. MTG (Mortgage), AUT (Auto), and BKC (Bankcard) are scores 5,4, and 2 from the top.
Message 10 of 10
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