Re: Re: Re: Re: signing check authorizes hard inq.? Just because it may be don't make it taking money it's still giving money rather than taking it - no PP.
Re: Re: Re: Re: signing check authorizes hard inq.? Experian told me that every store has a pp to pull credit... bigmon ================ This means that every bill you pay is an inquire on your report. This ought to be good for dozens of inquires per year posted to your reports. You can get 36 inquires a year just by paying your monthly gas electric and water bills. Fits in real nice with the FICO con job. Now they have found a way to screw you just for paying your bills. The END ************************* LB 59
Re: Re: Re: Re: Re: signing check authorizes hard inq.? Are you serious? My utilities don't show up on my credit report.
Re: Re: Re: Re: Re: Re: signing check authorizes hard inq.? You read my words but you didn't get the message did you???????????????????????????????????????????????????????????????????????????????????????
Re: Re: Re: Re: Re: Re: signing check authorizes hard inq.? You'd think it ended when you walked out the door with the merchandise. Supposedly they pulled to see if they would accept your check. Once they have, they have other recourses if the check is bad, but what are they going to do - call you to bring it back?\ Um, Mrs. Jlynn, we just pulled your CR and decided not to accept your check, you need to bring back those shoes you just bought. Mrs. Jlynn - Well I just stepped in dog poop with em, still want them back? hee hee
Re: Re: Re: Re: Re: Re: Re: signing check authorizes hard inq.? The electric company is not extending credit to you are they? Electricity is a service, not credit. How do they classify it on your report?
Does opening a savings account without requesting a debit card, ready teller card or any kind of credit, allow a hard inquiry?
I wouldn't think so. Before I came to this board, I never checked my credit reports. So I don't know if Wachovia pulled or not when I opened with them. But I recall when I was in college and attempted to open a checking account, the bank pulled.
come on folks.. it does not appear to need to be an extension of credit to be a PP. I pointed to FCRA and FTC opinion letters that seem to support this. It can be a "business transaction". And I would beg to differ that accepting a check is NOT extending you credit. I can see how it could be interpetted as extending credit, as your check is worth nothing until it is cashed. If I were to buy your car from you and pay you with a personal check, I bet you would feel you had just extended me credit until that check cleared. it is not the same as paying cash. I find it very troubling that this IS a PP, but my interpretation of what I've read seems to say it is regardless of my personal opinions or wishes. I've seen some very knowledgable and experienced folks here blindy state its not PP, but not give anything to support that opinion. Please, if I'm wrong in my interpretations, show me where. I for one HOPE I'm wrong, and want folks like LB59 to set me straight as it does nothing but increase my knowledge and empower me which is exactly why I am here. But if people don't explain WHY they have an opinion or offer anything to support that opinion then I don't feel I've been giving anything I can really use. I am not in anyway saying opinions counter to mine here are wrong, I am only asking that they show me where I went off course with my thinking. My goal isn't to be right, but to learn.
I called and spoke with someone in the credit department at Sears (1 800 366-0236). She said a "sales associate" cannot pull a credit report just from the presentation of a check. She said "a credit application has to be signed."
Re: Re: signing check authorizes hard inq.? Ahh, OC's don't fully understand the FCRA either. That could be company policy, but doesn't necessarily mean a check is not a PP, and there seems to be many opinion letters attesting it is. I would love to find out if this has ever been challenged because of the timing.
Re: Re: signing check authorizes hard inq.? The most disturbing things about Neiman Pulling a hard for a check being written is that: 1) Your credit should be checked when you open a bank account, and some if not most banks are beggining to do credit checks when opening new accounts. Anyway, if your a chronic check-bouncer, you'd likely be on chexsystem anyway so that is another layer of insurance for the retailer. 2) Neiman Marcus nowhere discolses that signing a check will result in a hard inquiry. If they were to pull credit, one would think that they would legally have to at least post this info or disclose that a credit file will be pulled for a check payment. I do not believe there is a law on the books that states a signed check is permission for a credit pull. In the FCRA, I can;t find it anyway. Clealry, consumers would likely pay with another method if they knew that a hard inq. was to be pulled for a check.. It all sounds like a scam so they can peek into a consumers credit file to add them to their credit card marketing list if they have good scores. After all, a FICO is no indication of a check that will bounce or not, as it has nothing to do with checking accounts or bank accounts in general.
Re: Re: signing check authorizes hard inq.? i agree with you on the scam bit.. however, as I and others posted previously the FTC appears to say the FCRA does in fact give PP for accepting checks, and it seems no one has really been able to show evidence or make a good case to the contrary. Do you not feel this is a "business transaction"? Do you not feel they are in effect granting you credit until that check clears? Do you not think that to accept a check from you they have a legitimate interest in your financial "reputation"? I don't agree with what they did, but this will likely be their arguement and they won't have too hard of a time finding doc's to support it. If I were the low life who did this to you this is what I'd look at to support my actions. I think if you decide to go to court you should try to figure out their argument and be willing to try to take it apart point by point. My questions weren't rhetorical - they're just questions that need some critical thought.
Re: Re: signing check authorizes hard inq.? I think that Jason is right. The wording (and the opinion letters) support that. On the other hand, it's pretty stupid of NM, and I can't help but wonder how pulling your CR can be justified in a cost/benefit sense. Doesn't each pull cost them money? I'd write the president of NM and tell him I'm never shopping there again and why. Then I wouldn't.
Re: Re: Re: signing check authorizes hard inq.? ================ This means that every bill you pay is an inquire on your report. This ought to be good for dozens of inquires per year posted to your reports. You can get 36 inquires a year just by paying your monthly gas electric and water bills. Fits in real nice with the FICO con job. Now they have found a way to screw you just for paying your bills. The END ************************* LB 59
Re: Re: Re: signing check authorizes hard inq.? ================ This means that every bill you pay is an inquire on your report. This ought to be good for dozens of inquires per year posted to your reports. You can get 36 inquires a year just by paying your monthly gas electric and water bills. Fits in real nice with the FICO con job. Now they have found a way to screw you just for paying your bills. The END ************************* LB 59
Re: Re: Re: signing check authorizes hard inq.? LB59 I can' tell if your being sarcastic or not but I think what you just pointed out is pretty scary...
Re: Re: Re: Re: signing check authorizes hard inq.? Nothing sarcastic about it. Just an example of what It means if simply presenting a check is a permissible purpose for pulling your credit reports.
Re: Re: Re: Re: signing check authorizes hard inq.? I have NEVER applied for credit by writing a check!!!
