I signed up to trade on ebay about a week ago and I just looked at my equifax, guess what? They pulled my credit. There is an inquiry that says ID EBAY Inc. Is this for real, maybe it was in their small print, but I dont remeber reading about that.
You know, I've seen that ID notation on my report as well...through Equifax. It was with Names Place, Inc. or something like that. Couldn't figure out what it was for but think it might have to do with when I registered a domain recently, although that was through Network Solutions. Does the ID notated inquiries show up as hard inquiries? Seems like they are simply trying to verify identify versus pulling a full fledged credit report. Anyone know? L
You're welcome. There was a big discussion of ID inquiries back when several of us got State Farm Visas. State Farm pulls an ID inquiry when you register on their website for online account access. I was one of the people who was concerned when filling out the form that it asked for a SSN and it looked like they might pull a hard inquiry -- but it did turn out to be soft. I kind of like the idea that State Farm or Ebay would pull a soft inquiry to verify my identity. I do wish they would disclose the fact that they are going to do so and also wish they would tell you in advance that the inquiry will be soft. There were several here though who didn't see the merit of the practice.
I SEE NO LOGIC IN "PULLING" a soft for on-line access...NOBODY ELSE DOES... I NEVER signed up...TOO MANY QUESTIONS!!!
I don't understand why every vendor needs to inquire about our credit report. Concerning Ebay's need to pull my report - hey, if my credit card works that's all that should matter to them. What's next? The local grocery store will begin requesting my SSN and credit profile before they give me a bonus card? Dani
It is beneficial to the Ebay community that people buying and selling can be identified. It is beneficial to me that State Farm can verify that it is indeed me signing up to manage my Visa account online. Even more so since you can do online balance transfers. I can either wait to access Ebay or State Farm online access until I can send them proof of my identity through snail mail or I can have instant access by having these companies pull soft inquires on my credit file that do not harm me in any way. I think there is a tangible benefit. But this is only one man's opinion.
It's the only one that I know of as well. I think the others should start. I think others just don't want to pay for it.
If my "INFO" isn't good enough on the application...WHY DID I GET THE CARD??? The "INFO" is VOID once the card is printed???
You can sign up for most online access to credit cards with only the information found on your statement. Your statement can be stolen or misplaced or dug out of the trash (I know you shouldn't throw out the statements but I am just making an argument). Sometimes you also need physical access to the card itself to get the code off of the signature panel but most of the time you do not. State Farm requires information that cannot be read right off a billing statement or the credit card. Just because someone has your billing statement doesn't mean they're you. It's not foolproof but it's a better system than most have in place.
The 3 #'s on the back of the card is one thing...BUT an INQUIRY and 6 more stupid questions is TOTALLY ANOTHER THING...
Don't worry just about everyone will be doing it in a few years. I worked for suprime cc company in 1998. They charged $30 for late/over limit fees. $100 for app. fee $50 for membership fee and it was unheard of. Now even the 'prime' cc companies do it. If they can get away with it and it makes business sense i.e. money, others will follow.
