Is there anyone who could tell me for sure, what kind of information potential creditor gets when they pull soft inquires? Thanks, Denny
Great question. I don't know for sure but I would assume something like: Name Address Public Record Info (since its public) maybe number of inquires Someone will know but this is just my opinion or my thoughts.
They will Denny boy. This is an open forum for us to learn and share ideas and knowledge. Throw some thoughts and/or experiences around. Relax. If you want to just get down to it, call one of the agencies and ask THEM.
There are two types of 'soft' inq's... SOFT - this is your COMPLETE credit file for account review, etc. PRM - Promotional - akin to a phone directory look up, name address, etc. for making a promotional offer. Depending on the CRA both may be considered soft, and you may not be able to tell by looking at the entry whether it was a soft or a promotional. The main difference between a true SOFT, and a HARD, is that HARD pulls count against you in scoring, since they presume that a HARD inq is a request for credit of some kind. Remember, when you pull your credit file either through a service like PG, or through the CRA directly, you are doing a SOFT pull.
Re: Re: Soft inquires â?? What info they get? Whatâ??s up broncsboi? It looks you got me wrong. I did appreciate your input very much! I was just looking for someone with more experience to join us and share with us his knowledge. Speaking about calling agencies for some answers â?? that would be funny â?? they doesnâ??t have any idea what they are saying Once again, I didnâ??t want to offend you in any way. Your post was more than welcome!
I am very interested in this "name, address and etc .â? What other info they get beside name and address? Iâ??m trying to get a clue about those pre-approved offers. If they say â??You are pre-approved on the basis of criteria contained on your credit reportâ? that means they got all of info (number of accounts, history of payments, etc.) from credit file. If they have only name and address â?? it doesnâ??t make sense for them to say â??You are pre-approved ...â? based on your name/address.
Re: Soft inquires ? What info they get? ok let me try to explain how PRM works (i did marketing for awhile) XYZ Marketing is targeting say subprime borrowers. they go to EXP, EQ and TU and ask for customer lists based on certain criteria. for example: scores between 575 and 625, bankruptcies discharged w/in 5 years, high utilization. they can even ask for certain states or zip codes. XYZ WILL NOT see your credit report but will only get your name and address. they will not know detailed information or your ssn.
Re: Soft inquires ? What info they get? That is why in the fine print of the pre-approved offer, there is a disclaimer that pre-approved, doesn't mean pre-approved. if when we review your credit report, anything changed from the criteria that we gave to the CRA to pull your information, the terms could be changed, or denied alltogether.
Re: Re: Soft inquires ? What info they get? And XYZ company will be listed on my credit report as PRM even they didn't look at my detailed credit information at all?!! So that means all off the pre-approved offers means nothing at all and we should not reply on them? Thank you, that means it would be wise to OPT out from credit offers, since they have no use?
Re: Re: Re: Soft inquires ? What info they get? WRONG!!! The CRAS are given SPECIFIC information to look for from your credit report so that a CREDIT CARD/LOAN COMPANY can OFFER YOU CREDIT... THE CRA LOOKS AT YOUR REPORT AND YOU QUALIFIED FOR THE OFFER AT THAT POINT... AS FAR AS "OPTING OUT" I WOULDN'T DO IT FOR $100!!!!!!!!!! ...but that is me
Re: Re: Re: Re: Soft inquires ? What info they get? Thank you George! I appreciate your advise very much, since I was already confused regarding pre-approved offers! I will not do "Opting Out" - Hope it will help me in the future! Denny
