Repeated Credit Report Inquiries
archive
Posted: Mon Jan 10, 2005 4:05 pm
Post subject: Repeated Credit Report Inquiries
Joseph Feeder
Date: 9/14/2000 6:46 pm CDT
I am writing on behalf of a friend who was concerned about his credit report security. He had noticed that a company by the name out of California had "hit" his credit report approx. 7 times in 3 days. He became concerned about what they might be trying to do. He is aware that those type "hits" do not show up as loan inquiries but still is very concerned about what precautionary measures he should take to prevent getting hurt. Any help you can provide in regards to this issue is greatly appreciated.
CardRatings.com is the most comprehensive source for comparing credit card offers. Please visit CardRatings.com to view the best rated credit cards!
archive
Posted: Mon Jan 10, 2005 4:06 pm
Post subject: Repeated Credit Report Inquiries
Eugene Skorodinsky
Date: 9/15/2000 1:01 am CDT
Tell your friend if he doesn't want creditors to hit his report without his consent, he can request credit bureaus to mark his file and to exclude his report from being "pre-screened" (that's the slang credit bureaus use). He can actually find this information at the title of the section that includes all those "hits without your consent", in report from at lest one credit bureau.
He should, however, keep in mind, that he will stop getting any pre-approved applications from creditors, and this might be a bad or a good thing for him, depending on what he wants.
Multiple requests from the same company do sound weird but I would not be worried about privacy and fraud just yet.
Now I might be mistaken here (industry insiders, please correct me if I am wrong): creditors sometimes provide lists of their criteria to the credit bureaus but what they get in reply is a list of names and addresses of consumers matching those criteria, and not the complete reports. Later, if you decide to apply, the creditor requests the full report and checks more thoroughly, whether you match their criteria.
You can still call the credit bureau and ask them if you should be worried about this. You can also call the company who hit your report and ask why, but I think in the best scenario you will get a standard reply that "it's probablty because we were pre-screening you to see if we can offer you any of our great services, blah-blah-blah. We have the legal right to do this." (and they really do.)
archive
Posted: Mon Jan 10, 2005 4:06 pm
Post subject: Repeated Credit Report Inquiries
Ira Stoller
Date: 9/19/2000 5:12 pm CDT
Bottom line is that it's harmless, meaningless, and certainly not any security violation. The only way your friend can get hurt is to sign on for every one of the promotional offers that he receives as a result of these inquiries.
NightStar
Posted: Sat Jan 22, 2005 10:00 pm
Post subject: Repeated Credit Report Inquiries
Your friend has a right to contact the credit reporting agency and request the address of the company making the inquiries and write to them directly to inquiry to their reason.
I would not ignore this, being that someone could very well have been trying to apply with his personal information.
You can also request to opt-out, if it was some kind of pre-screened offer, but if that was the case would of thought that many inquiries that he would of see some kind of applicaiton in the mail.
Only businesses that I know to pull that many reports within a short period of time is a auto lender, or a mortgage lender.
_________________
Best Regards,
Pammila Phillis
Board Monitor
http://www.cardratings.com
CardRatings.com is the most comprehensive source for comparing credit card offers. Please visit CardRatings.com to view the best rated credit cards!
Posted: Mon Jan 10, 2005 4:05 pm
Post subject: Repeated Credit Report Inquiries
Joseph Feeder
Date: 9/14/2000 6:46 pm CDT
I am writing on behalf of a friend who was concerned about his credit report security. He had noticed that a company by the name out of California had "hit" his credit report approx. 7 times in 3 days. He became concerned about what they might be trying to do. He is aware that those type "hits" do not show up as loan inquiries but still is very concerned about what precautionary measures he should take to prevent getting hurt. Any help you can provide in regards to this issue is greatly appreciated.
CardRatings.com is the most comprehensive source for comparing credit card offers. Please visit CardRatings.com to view the best rated credit cards!
archive
Posted: Mon Jan 10, 2005 4:06 pm
Post subject: Repeated Credit Report Inquiries
Eugene Skorodinsky
Date: 9/15/2000 1:01 am CDT
Tell your friend if he doesn't want creditors to hit his report without his consent, he can request credit bureaus to mark his file and to exclude his report from being "pre-screened" (that's the slang credit bureaus use). He can actually find this information at the title of the section that includes all those "hits without your consent", in report from at lest one credit bureau.
He should, however, keep in mind, that he will stop getting any pre-approved applications from creditors, and this might be a bad or a good thing for him, depending on what he wants.
Multiple requests from the same company do sound weird but I would not be worried about privacy and fraud just yet.
Now I might be mistaken here (industry insiders, please correct me if I am wrong): creditors sometimes provide lists of their criteria to the credit bureaus but what they get in reply is a list of names and addresses of consumers matching those criteria, and not the complete reports. Later, if you decide to apply, the creditor requests the full report and checks more thoroughly, whether you match their criteria.
You can still call the credit bureau and ask them if you should be worried about this. You can also call the company who hit your report and ask why, but I think in the best scenario you will get a standard reply that "it's probablty because we were pre-screening you to see if we can offer you any of our great services, blah-blah-blah. We have the legal right to do this." (and they really do.)
archive
Posted: Mon Jan 10, 2005 4:06 pm
Post subject: Repeated Credit Report Inquiries
Ira Stoller
Date: 9/19/2000 5:12 pm CDT
Bottom line is that it's harmless, meaningless, and certainly not any security violation. The only way your friend can get hurt is to sign on for every one of the promotional offers that he receives as a result of these inquiries.
NightStar
Posted: Sat Jan 22, 2005 10:00 pm
Post subject: Repeated Credit Report Inquiries
Your friend has a right to contact the credit reporting agency and request the address of the company making the inquiries and write to them directly to inquiry to their reason.
I would not ignore this, being that someone could very well have been trying to apply with his personal information.
You can also request to opt-out, if it was some kind of pre-screened offer, but if that was the case would of thought that many inquiries that he would of see some kind of applicaiton in the mail.
Only businesses that I know to pull that many reports within a short period of time is a auto lender, or a mortgage lender.
_________________
Best Regards,
Pammila Phillis
Board Monitor
http://www.cardratings.com
CardRatings.com is the most comprehensive source for comparing credit card offers. Please visit CardRatings.com to view the best rated credit cards!
posted by CardRatings.com at 1:44 PM
0 Comments:
Post a Comment
<< Home