My bank did a soft credit inquiry
Date: Sun, 02/12/2006 - 20:12
I noticed in my Equifax credit report that my bank (a credit union) ran a soft inquiry on me. This is the bank that helped me handle the payday loans problem by closing my checking account and opening a new one with a different account number. Also, there is a AR code next to it meaning this is a periodic review of my credit history.
Is this a good thing or a bad thing? Will I expect problems from my bank? My credit score is around 650 even though I have 3 charge-off accounts nearing their 7 year reporting time soon and 2 disputed old collection items, also close to 7 year reporting.
Is this a good thing or a bad thing? Will I expect problems from my bank? My credit score is around 650 even though I have 3 charge-off accounts nearing their 7 year reporting time soon and 2 disputed old collection items, also close to 7 year reporting.
Kam, Credit inquiries done by creditors with your consent mig
Kam,
Credit inquiries done by creditors with your consent might hurt your score. It seems that it was a periodic check up done by your bank. IMO, it's not going to take you in problem. BTW, have you noticed any change in your score after this inquiry?
FYI, you can dispute credit inquiries with bureaus and with your creditors as well. They should remove it if you had not allowed them to run the credit check.
Stan, Soft inquiries do not affect the score. Nor are they vi
Stan,
Soft inquiries do not affect the score. Nor are they visible to other creditors who make hard inquiries.
What I am worried about is I do not have any credit products from my bank. Why would they run a credit check?!! :?
Submitted by AZ Payday Loan Avenger on Mon, 02/13/2006 - 13:47
( Posts: 56 | Credits: )
Quote:Also, there is a AR code next to it meaning this is a peri
Quote:
Also, there is a AR code next to it meaning this is a periodic review of my credit history. |
Chances are they run a credit check for all of the consumers holding account with them. I guess you have an account with this bank right? You can talk with some one else who also has an account with this bank and inquire if the bank did the same with these people.
Or directly speak to your bank to know why they did it. That will clear the cloud. It seems from your post that your bank has been cooperative to you in past. So they can respond to your query this time too.