On my TU report it has Regular inquiries, Promotional inquiries and Account Review inquiries. I am assuming that a company that does an account review inquiry is one that I have an actual account with correct? I have one inquiry on this list that I am unsure who it is (not to mention my BK discharged this same month). I opened a new checking account the same month, so it's possible these are one and the same. However, this account was opened jointly with DH and there is no inquiry on his report. Do banks routinely pull CRs when you open a checking account? What is the best way for me to find out what company this is?
Account Review inquiries are supposed to be with companies with which you have an existing account. They are "soft", or not disclosed to others. Banks do often pull CRs on opening checking accounts, for several reasons: 1) They may someday pay on a check where there are insufficient funds, and they want to know you are likely to make good. (They often pull Checksystems for the same reason.) 2) You may have overdraft protection as part of the checking account, in which case in effect you have opened a line of credit. 3) Under Patriot Act, and various drug money laundering prevention laws, they are required to "know their customers", and at least do some check that you are a real person with legitimate financial activity, and not creating an anonymous account to transfer money for illegal purposes. What information does TU provide on the company whose inquiry is showing?
With TU, there'll be a few ways to know who/what the company is, if you are looking at your FULL mailed report (not an online report)... The Regular Inquiries section should list the name/address/phone/inquiry date/type of inquiry - individual, joint, etc. The Inquiry Analysis section should provide you with the information which was provided by the companies who have pulled your report within the last 90 days. The Account Review Inquiries section should also list the name/address/phone number of the companies who pulled an AR report. ARs are what people typically view as a SOFT inquiry; even though no SOFT inquiry exists in the language of the FCRA. These are mainly done as soft so that your credit score isn't hurt if your CC company decides to review your account for CLIs on a monthly basis. The Promotional Inquiries section should likewise show the name and contact information for companies who requested profiles including your own for marketing purposes. Strictly interpreted PRM inquires are SUPPOSED to work similar to this... Company XYZ is looking for consumers who have 3 CCs with 10-20% utilization, limits of more than $5,000, a car loan of more than $10,000; and a mortgage of $500,000. They ask the CRA to provide them with the names and addresses (and other contact information) for consumers who meet this profile. I happen to have knowledge of other ways which PRM inquires are being performed which are outside of the legislative intent, and case law. But discussions of those are being held under my hat for the time being. -- It'll be a nice addition to the Pulls and PRMs thread in my signature.
Thanks for replying. It shows as an ARI from Check Free out of Dublin, CA. I don't have a problem if it was the bank. I have a problem if it was an account that was included in the BK.
