I have seen threads about hard inquiries dropping off by pulling, what does this mean and how do I go about doing this? Thanks
I will try although I am fairly new to the concept myself. It involves signing up for a triple report monitoring service that will allow you to pull a new report every 24 hrs + 1 minute. Truecredit & privacy matters are 2 that come to mind that allow daily pulls. There may be ones better that I don't know about. I had signed up for privacy matters online and got the message I would get the info by snail mail in 2 weeks. After a month I figured that it didn't go through and signed up for truecredit. 2 weeks later the privacy matters came in the mail. So for the time being I have 2 services. I have found I can pull each of them every day and I have been doing that since I had made some apps to get some positive tradelines going a month ago and would like to see those hard inquiries drop. But I will prob cancel one of them because of the cost. The idea is that continued frequent pulls may fill your credit report with the soft pulls and eventually cause the hard inquiries to "bump" off due to lack of space. This may be important to you if you are planning a big purchase/loan within the near future and would rather creditors not see the inquiries. However, it has been said that you may be putting yourself at a higher risk for split reports doing this. Some peeps have done it for years with no prob, others have had split files within a month or so. It is also being said that Experian will not "bump" hard inquiries. Again that issue is debatable also but I haven't yet seen a Experian "bump" reported. Hope this helps, I didn't understand it either when I started. If someone has more info please add it, I would like to hear it also as I am continualy learning. Tegleg
Thanks for the reply, do these company's give you all three scores daily also or are they FAKO scores? What's the price difference?
I just signed up for TrueCredit, and wow my scores dropped since Feb, I did expect some drop, because I have 1 new card on there, and I had alot of inquiries, because I was trying to get some credit, since I had none, but I dropped 110 points on EX, which is the only one showing the new CC right now, also. TU 516 and EX- 541. Oh well it will get better from here.
With the triple reports I can only speak of Truecredit and Privacy Matters. Truecredit : gives you the Fako scores for all 3. It costs me around 14.95 a month. Privacy Matters: Gives you only the TU fako score. I pay 14.95 a month for an acct both my hubby and I can use. I will cancel one of those soon. The only way to get your real FICO scores (the ones that matter) is through myfico.com. However they are a little pricey so you may only want to check those every now & then. You can sign up for ScoreWatch through Equifax for 6.95 a month and can monitor your Equifax FICO score with that. It's about 6.95 a month. Not much else you get with that except 2 Equifax report pulls a year. But it gives you at least some idea how your FICO is doing. This is just my experiences thus far. Others may chime in with other opinions & thoughts. Good luck! Tegleg Just saw your other post, I like Truecredit, however don't put too much faith into the FAKO scores, they bounce around like crazy.
One other possibility to monitor scores: There is a WAMU (formerly Providian) CC which allows free FICO scores to be pulled on-line each month. Not sure which CRA it is based on.
If I were you I would check your FICO score to know where you stand. My FAKO score was lower by about 50-60 pts.
