A friend of mine went to Neiman Marcus and paid for her goods with a check. They pulled a hard inquiry on her credit file. She demanded it be removed, and they declined stating that this is permissible purpose for a credit pull. Meanwhile, it is documented nowhere in the store or otherwise that this is their modus operandi.....They demand that a signed check authorizes the credit pull, and are dead serious about it. HAS ANYONE HEARD THIS BEFORE?????????
http://www.ftc.gov/os/statutes/fcra/coffey.htm Coffey seemed to think it was OK in an automobile transaction. Note the footnote.
NO PP Ask if they want to pay you $1,000 or just remove it for FREE SIGNING A CHECK IS NOT PERMISSION TO PULL A CREDIT REPORT!!!
Quoted from the link you provided: "The dealer may also obtain a report to check a consumer's creditworthiness when the consumer presents a personal check to pay for the vehicle. By contrast, a permissible purpose would not arise if a consumer intends to pay by cash." In that case, the consumer has presented a large check to purchase the vehicle and in doing so provided personal information that would require a "credit check" to verify. Why would a department store need to pull a credit report to verify a check unless she was applying for credit?
Re: Re: signing check authorizes hard inq.? PULLING A CREDIT REPORT CAN NOT MAKE A CHECK "UN-BOUNCE" On the OTHER-HAND...if somebody has POOR credit and has $8,000 in their checking account...THE CHECK FOR $5,000 CAN NOT BOUNCE!!!!!!!!!!!
Re: Re: Re: signing check authorizes hard inq.? I understand. But the point I'm trying to make is, a credit check would be appropriate to verify the information given in the application. Certainly someone could use another's social # and credit history. But I doubt that a auto dealership is going to allow anyone to pass a large check without at least checking the credit.
Re: Re: Re: signing check authorizes hard inq.? I wrote a check in 99 for a vehical for an amount in excess of 20k,, no credit check required.
Re: Re: Re: signing check authorizes hard inq.? Sorry, they have a permissible purpose. This is a "transaction initiated by the consumer." It sucks but it is permissible.
Re: Re: Re: signing check authorizes hard inq.? I wrote a check for 17k 5 years ago and the dealer pulled a credit check. The other option was to get a cashiers check. BTW...Experian told me that every store has a pp to pull credit....wish I had recorded it.
Re: Re: Re: signing check authorizes hard inq.? technically, it sounds like a PP to me. It's BS, but it sounds legit Also, you don't need a SSN to pull a CR, add a tradeline, etc.
Re: Re: Re: Re: signing check authorizes hard inq.? SO I CAN "PULL" FOR EVERY CUSTOMER AT WAL*MART??? We would lose 99+% of the business...MINE INCLUDED!!!
Re: Re: Re: Re: Re: signing check authorizes hard inq.? Exactly!! Do I have to be very afraid to purchase that weed whacker at Sears with a personal check?
Re: Re: Re: Re: signing check authorizes hard inq.? In other words, i go to Sears to purchase a weed whacker. I do not have an account at Sears. I present my personal check and they can pull a cr on me without my knowledge?
Re: Re: Re: Re: signing check authorizes hard inq.? Your spending $59.00 on that WEED-WACKER...with a check and the "PULL" says BAD because you have written 30 checks and applied for 2 credit cards IN THE PAST 2 WEEKS...EVEN THOUGH YOU HAVE $15,000 IN THE CHECKING ACCOUNT?!?!?!?!?!?!
Re: Re: Re: Re: signing check authorizes hard inq.? i know, total BS. but it sounds technical legal. is this considered a business transaction intiated by the consumer? or maybe accepting a check is the same as extending credit? I never use checks at stores, etc., anyways as it's an invitation to fraud But if I did, this would be reason for me to stop...
Re: Re: Re: Re: Re: signing check authorizes hard inq.? I have NOT written a check to any "STORE" (except like JC PENNEYS to pay the bill)...IN 10+ YEARS!!!
Re: Re: Re: Re: Re: signing check authorizes hard inq.? i just read through all the ftc opinion letters on their site, and on more then one occasion they mentioned pulling a CR for accepting a check is PP. And it never makes mention of how high the check amount was, so using that as a some sort of qualifier would be a big no-no. That being said, they also say it's not PP to pull a CR AFTER a tranascation is complete. This wasn't in regards to checks, so the question is whether or not the exchange of goods for the check is considered the end of the transaction, or if they have a window until the check clears.
Re: Re: Re: Re: Re: signing check authorizes hard inq.? A check is not applying for credit. You are giving money not taking money so there is no P p.
