I had been dealing with TU through e-mail today regarding some problems with ordering my reports, it was finally fixed and I ordered my fico score. I noticed a hard inquiry (as did others posted in the other thread). I decided to e-mail TU back and ask about the inquiry and this is the e-mail response I received: Response (J. Chester) - 07/25/2002 09:01 PM Because the report you ordered was a credit report rather than a consumer disclosure, the inquiry is counted as a hard inquiry. Please see below for more information on how inquiries affect your FICO score. Inquiries and the FICO score Your TransUnion credit report includes consumer inquiries, which are spurred by your own requests for credit (when you apply for a loan, you authorize your lender to ask for a copy of your credit report). The FICO® score does NOT count: - Consumer disclosure inquiries - requests you have made for your TransUnion Personal Credit Report directly through TransUnion, in order to check it. (Your request for a TransUnion credit report and FICO Score is counted as a consumer inquiry rather than a consumer disclosure inquiry and may affect your FICO Score.) - Promotional inquiries - requests made by lenders in order to make you a pre-approved credit offer. - Account management inquiries - requests made by lenders to review your existing account with them. - Employment inquiries - requests marked as coming from employers. FICO scores only consider inquiries initiated by you over the most recent 12-month period. These include mortgage, credit card and auto loan applications. The FICO score treats multiple inquiries from auto or mortgage lenders within a short period of time as a single inquiry, which will have little impact on your credit score. FICO scores only consider inquiries from the last 12 months, although inquiries remain on your TransUnion credit report for two years. Federal law requires that all inquiries be kept on file for a period not to exceed 24 months. UNBELIEVABLE!! How can this be?!??!!
That makes NO SENSE AT ALL!!! They are disclosing it to you, not a third party. This whole credit scoring system is screwed up big time. I think we should bombard them with complaints. Somebody needs to look into this asap. Calmest_LA
Is Transunions saying this is their policy, to count your request for a TU credit report as a consumer inquiry, rather than a disclosure? OR... Are they saying this is law? Who gets to decide whether when a consumer pulls their actual FICO score whether it is counted as a consumer inquiry or a consumer disclosure? Transunion?
Regardless if this is their policy or law, it is going to end up destroying a lot of people who don't read this board and pull it like they do the Equifax score. This is total BS. I was going to pull it, but now I'm thinking twice. Just another reason the CRAs suck.
I was wondering about that myself. I have a hard inquiry from today...but it's called "TU CONSUMER DISCLOSURE". So now I am very confused...didn't they email you stating that "consumer disclosure inquiries" are soft and "consumer inquiries" are hard? any lawyers in the house want to take on a class action suit? it's got to be illegal for them to damage our credit simply because we want to see our scores. briana
crap i forgot i pulled my report twice. i checked the wrong report...Tu consumer disclosure is normal briana
mine shows up as a hard just like KHM's does...unless they've revised what they consider to be a hard inquiry..and just decided not to tell us briana
I checked mine today. I have 1 transunion score, listed under soft inquiries. I have 5 TU consumer disclosures listed under hard, that is stated only to be seen by me. Why would mine be right, while others are wrong? This whole system is wacked!!!
Call Transunion again and get another yahoo on the phone. I just pulled mine back in May. It seems I have a "TU consumer disclosure" listed under hard inquires but there is a note saying that it will not be viewed by creditors. Does THAT count against me score wise? The bottom of my report displays a totally different inquiry type list it says: "The companies listed below obtained information from your consumer report for the purpose of an account review or other business transaction with you. These inquires are not displayed to anyone but you and will not affect any creditor's decision or any score" The it listed 05/2002 Trans union score
Either way CALL the Federal Trade Commission or submitt a report online!!! If enough of us do then they will be forced to act.
Here is the text of my online complaint filed today: Gentlemen, I am writing you to file a formal complaint against the Trans Union credit-reporting agency (TU) for violations of the FCRA. TU now offers consumers the ability to obtain a â??realâ? FICO score while you are requesting a copy of your credit report. This offer occurs on the TU website used for requesting a consumer disclosure. TU is treating this request as a credit inquiry and not as a consumer disclosure. I believe this action is deceptive and\or illegal and a violation of the FCRA. I object to TUâ??s interpretation of my request as a consumer inquiry for the following reasons: 1-The sole purpose of this inquiry is to calculate a credit score and no credit transaction is involved. Calculating scores is NOT listed as a permissible purpose in the FCRA. 2-This report and score is being obtained by a consumer for disclosure purposes only. No other use of this report is contemplated or authorized. 3-This request was made directly to TU from its website while requesting a consumer disclosure report. To claim that any other purpose is authorized without a clear notice stating that this is NOT a consumer disclosure is deceptive and illegal. 4-Allowing TU to post a hard inquiry when this is clearly not the intent of the consumer is deceptive. No consumer would agree to allow this inquiry if fully informed of the negative impact of inquiries on the FICO score 5-This website was established by TU to allow consumer disclosures to be obtained directly from TU. To allow TU to â??trickâ? a consumer into allowing a hard inquiry from this site is to condone fraud and deceit I ask that you take immediate action to stop TU from continuing these deceptive and illegal acts that are harming the American consumer. Sincerely, John X. XXXXXX Anyone else have a go at it ? JohnM
This whole credit scoring system is screwed up big time. Calmest_LA =============== No It's not! It works just like a shell game is supposed to work!
Just another reason the CRAs suck rblues Q.What's the difference between CRAs & Con Artist. A. CRAs have a business license.
This whole system is wacked!!! tracyb0313 ------------------------------------ Don't anybody say I didn't told you so.
Just when you wanna tune LB out, he zings you with a post like that! LB that was hillarious...you got me with my mouth open on that one ))) -Peace, Dave
