| Message |
Author |
 Posted: Thu Jun 21, 2007 10:59 am Subject: CapitalOne Requesting Credit 20 times in 17 months!? |
|
|
Hi, I'm new. I was going over my credit report and I noticed something strange. I have a little $500 limit CC with Capital one. I've made a few late payments in the 7 years I've had it. CapitalOne has requested my credit 20 times in a 17 month span. Yes, that means there have been 1 or 2 checks each month since Jan '06.
What would provoke them to do such a thing?
How badly does that hurt my credit?
Is it disputable?
Should I close the account if they continue to check my credit?
Thanks for your help.
|
|
drakewalker
Joined: 21 Jun 2007
Posts: 2
Debtcc Points: 73
|
|
|
| Posted: Thu Jun 21, 2007 11:31 am Subject: |
|
|
I would contact Capitol One about it. It does negatively affect your credit every time someone looks at it. Not by much score wise but it also appears from the outside that you keep applying for credit when you are not. My guess is they keep checking to increase your limit if you are paying everyone else on time. Tell them to stop or you will close your account.
|
|
frogpatch
Moderator
Joined: 09 Apr 2007
Posts: 3713
Debtcc Points: 30905
|
|
|
| Posted: Thu Jun 21, 2007 12:23 pm Subject: |
|
|
First of all are these hard or soft inquiries.Softs are not seen by anyone but you and do not effect credit. Look on your report at the bottom in the inquiry section.Look at section that says creditors see these,that is your list of hard inquiries.Now look at section saying only you see,that is your soft inquiry list. Cap 1 has permissible purpose to pull as often as they like since they are a creditor of yours.They should be pulling ar soft inquiries since it is not a new credit app or line increase.Ar= account review.
_________________
Cajunbulldog
Keeping an eye out for consumers.
http://www.ftc.gov/os/statutes/fdcpa/fdcpact.htm#809
http://www.ftc.gov/os/statutes/fcrajump.shtm
http://www.debtconsolidationcare.com/forums/about216.html
Use this letter to protect your rights under the FDCPA
myfairdebt.com & myfaircredit.com-Good source of case law in forums.
|
|
cajunbulldog
Moderator
Joined: 20 Dec 2006
Posts: 4875
Debtcc Points: 37803
|
|
|
| Posted: Thu Jun 21, 2007 12:28 pm Subject: |
|
|
I just learned something there myself. Thanks Bulldog!
|
|
frogpatch
Moderator
Joined: 09 Apr 2007
Posts: 3713
Debtcc Points: 30905
|
|
|
| Posted: Thu Jun 21, 2007 12:29 pm Subject: |
|
|
Oh ok. I see now that they are soft inquiries. Thanks for your help!
|
|
drakewalker
Joined: 21 Jun 2007
Posts: 2
Debtcc Points: 73
|
|
|
| Posted: Thu Jun 21, 2007 12:48 pm Subject: |
|
|
Some people think that requesting a copy of your credit report from the bureaus can actually hurt your scores. Type of inquiry is called soft inquiry and should never go against your credit. If you see such error in your file, it is important that you get it fixed by the bureaus immediately.
|
|
Trenity
Joined: 14 Mar 2006
Posts: 510
Debtcc Points: 6278
|
|
|
