List of Institutions that pull HARD credit inquiries when opening a NON-CREDIT account

Verizon seems to irregularly do hard inquiries.

I have had a land line with Verizon, but not a cell phone, for 5-1/2 years, yet a year and a half ago they did a hard inquiry. I can't recall anything that would have prompted them to do a hard inquiry.

verizon pulled my CR one year ago at the same time I enrolled in their auto-pay by credit card program. I'm also a land-line only user. I don't believe it informed me specifically. but i didn't read the terms when i signed up.

RetiredCoalMiner said:

<< Verizon seems to irregularly do hard inquiries.

I have had a land line with Verizon, but not a cell phone, for 5-1/2 years, yet a year and a half ago they did a hard inquiry. I can't recall anything that would have prompted them to do a hard inquiry. >>

Isn't it illigal for companies to pull a hard credit inquiry w/o your authorization?

Since I am in the Chicago area I can only comment on my dealings in this area. Here goes:

Chicago market:

HARD INQUIRIES -- WHAT ACCOUNTS GENERATE THAT INQUIRY

Financial Institutions:

MARQUETTE NATIONAL BANK -- CHECKING, SAVINGS, CD AND SAFE DEPOSIT BOX
HARRIS BANK -- CD
FIRST AMERICAN BANK -- CHECKING ONLY (DUE TO THE OVERDRAFT PROTECTION FEATURE)

Non Financial:

Local Toyota dealership

Property management companies or apartment owners for prospective tenants.

Zender--

No it was a cash transaction. Told them it was cash from the get go. Under no circumstances were they ever lead to believe it was a lease or financed purchased. Totally floored me!!

I cant speak for every Toyota dealership but this is what this place did.

S

I don't remember, but I think allsat might pull a credit report when ordering satellite equipment from them.

yep... this is when you pay in installments.

traebon said:

<< How did the Toyota dealership get your social?

I recently purchased a car as a cash transaction and no way would I have given them my SSN. So I don't understand how/why they pulled your report.

Treabon,

In the case of the Toyota transaction, it is a car my parents purchased so I dont have any paperwork on hand. All I know is that they bought their car at Toyota in October, 2002 and there is a hit/ding on October, 2002 under the Account Inquiry section.

All I can do is call this dealership and ask them what prompted this. If I get any pertinant info I would be happy to post an update. Plus I have a friend that used to work for Carmax in their finance department. I can ask him too and see if Carmax does this.

Anyone else have a non finance/lease transaction with a dealership and also get dinged???

S

SUCKISSTAPLES said:

<< Pentagon Federal Credit Union pulls a hard inquiry when you signup to become a credit union member and open a deposit account.
>>

What credit bureau do they use?

So far 2 Hard ones.

I guess I will have to ask the local branch.

Sue

tomprc said:

<< verizon pulled my CR one year ago at the same time I enrolled in their auto-pay by credit card program. I'm also a land-line only user. I don't believe it informed me specifically. but i didn't read the terms when i signed up.

RetiredCoalMiner said:

<< Verizon seems to irregularly do hard inquiries.

I have had a land line with Verizon, but not a cell phone, for 5-1/2 years, yet a year and a half ago they did a hard inquiry. I can't recall anything that would have prompted them to do a hard inquiry. >>

>>

I find it unusual that a company would check your credit through a hard inquiry, when you are going to pay using a credid card which has already checked your credit. It's not like Verizon will not get paid if you fail to make your cc payments, ... would they?

All in all, I think there's some odd stuff that Verizon does, and I don't like it.

Chareter One did not pull hard but said they would pull check systems when opening a checking account.

Friends,

I think I shared that Scottrade informed me via Customer Service that they will run credit on any new account, regardless of type of account. When I asked whether or not it would be a hard or soft inquiry I was told it would be a SOFT one, he said he even spoke with his supervisor.

I did however send an e-mail to CS via the website BEFORE I spoke to CS and in the e-mail it is spelled out very clearly that they will run a report to yield a credit score. Since to the best of my knowledge the only way I know that they can get a credit score is from a HARD inquiry, it appears that CS does not even have a consesus about they type of report they run. For those who are interested, here is a copy and paste of the e-mail I received:

Dear Sue,

Thank you for the email. Scottrade requests a credit score for all new accounts.

Section 2 of the SCOTTRADE BROKERAGE ACCOUNT AGREEMENT:
This agreement will be effective only upon our approval of your Account Application. Your Account Application authorizes Scottrade to verify your credit worthiness (as well as your spouse's if you reside in a community property state). Scottrade may obtain credit reports, contact employers, financial institutions, and make any other inquiries we feel necessary. You should be aware that if Scottrade accesses your credit file, your credit score may be effected. Scottrade may also provide negative account information or unsecured debit balances to consumer/credit reporting agencies. Scottrade may reject an application or close an account for any reason. We may accept international individual or joint Brokerage Account requiring a W-8 for certain countries subject to final approval of Scottrade (Hong Kong, China, Taiwan, Puerto Rico, etc).

In maintaining and/or executing instructions for any account, we may require additional documentation and reserve the right to restrict trading, disbursements, transfers or to take no action in an account. This shall also apply to any disputes or conflicting instructions between account holders. Scottrade reserves the right at any time to amend, change, revise, add, or modify the terms and conditions set forth in the Agreement without prior notice. By maintaining the account, I agree to be bound by such amendments, changes, modifications, revisions or additions to these terms and conditions regardless of whether or not I have actually read them. Scottrade shall not be bound by any verbal statements or written amendments/modifications by the customer that seek to amend the terms and conditions set forth in this agreement.

To help the government fight the funding of terrorism and money laundering activities, Federal law (USA Patriot Act) requires all financial institutions to obtain, verify and record information that identifies each person who opens an account. What this means for you: When you open an account, we will ask for your name, address, date of birth and other information that will allow us to identify you. We may also ask to see your driver's license or other identifying documents.

If you have any other questions regarding this, please call the local branch office.

Sincerely,
Mike Gibbons
Scottrade Financial Services, Inc.

Pentagon Federal pulled Equifax

HappyGuy said:

<< Pentagon Federal pulled Equifax >>

thanks

lolipop said:

<< whats the difference between HARD and SOFT >>

Dont ask us, ask your gf sorry couldnt resist

Hard inquiries are credit inquiries initiated by the consumer, and too manycan lower your credit score.

Soft inquiries can be pulled without your knowledge, for marketing purposes, account review, etc and are not supposed to affect your credit score

bumparoo

Funny a few of you mention Verizon pulling hard inquiries. They pulled one on me, plus several soft "account review" inquiries before I took notice. Odd thing is, I have absolutely no business with them...no phones, nothing! I had to go on a two-month letter writing campaign to get it taken off my equifax report. Never did figure out what happened, they don't show me being a customer or anything.