I added an AU to my Sears Mastercard on Monday and just checked my credit reports and found a hard from Sears on 3/1/2006. What in the hell are they doing pulling a hard inquiry when I simply added an AU to my account? I completed the entire process online and I didn't see any information discussing an inquiry. What are my options here? I already sent them a note through the account center, but I'm considering calling them too. Ideas?
well since a hard inquriey doesnt really affect your score as much anymore i wouldnt worry about getting so ticked off about it.. life is too short... your score my drop 1 point because of it... ; ) usually when you have an account the cardmember aggreements state that they can pull your credit when ever they feel like ......
I was not aware the the penalty for Hard Inquiry was reduced. Can anyone confirm that this is the case? I figured it was always about 5 points. Did they recently start grading it less?
Never heard such a thing. Each additional inquiry does not have the same effect as the last one. FICO is not linear. One or 2 may have little effect. After that, and depending on other factors, probably including length of credit history or other negative factors, and the effect may be larger. Multiple inquiries for car financing, or mortgage financing, count as one as long as they are within certain periods of time.
