Posted by Pat ORourke on May 17, 2002 at 23:39:24:
I subscribe to Eqifax and Experian, and pull my credit report and score daily. It has not had any effect on my score.
pulling my own credit report effect my fico? - Posted by dave sims
Posted by dave sims on May 16, 2002 at 19:31:29:
quick question, if I pull my credit report occasionally will this count as a penalizing inquiry to my fico score? I don’t think so but just wanted to double check.
thanks in advance
Re: pulling my own credit report effect my fico? - Posted by William
Posted by William on May 17, 2002 at 11:45:59:
Re: pulling my own credit report effect my fico? - Posted by Dave
Posted by Dave on May 17, 2002 at 08:54:52:
thanks everyone for your responses, I appreciate it.
Dave
Re: pulling my own credit report effect my fico? - Posted by Bruce Lawson
Posted by Bruce Lawson on May 16, 2002 at 20:32:34:
Hi Dave,
If you go to the big three reporting websites and pull your own credit it will show on your report as a permissible purpose therefore will not affect your score. The only time inquiries will drop your score is when a creditor is extending credit to you or they are looking at your credit for such a purpose. There are times when people look at credit scores for other reasons than for granting credit, such as employment or background checks, even when your bank looks at your reports occassionally to monitor your credit it is listed as permissible purpose.
Now for some reason checking your score on e-loan does affect your score I think it has something to do with the nature of their business and that site.
Sincerely,
Bruce Lawson
Re: pulling my own credit report… OH Yeah! - Posted by hg-nyc
Posted by hg-nyc on May 16, 2002 at 20:09:34:
Any time you pull or anyone pulls a credit report on you it will count as an inquiry and affect your FICO. This is because any system you pull it on is a SUBSCRIBER to the bureau itself. Just because you pull it does not make you exempt.
Those “Get Your Free Credit Report” companies are the worst thing since bad credit!
Now…the only exception is when you get the report from the bureau yourself, i.e. when you call/write Experian and THEY send it to you.
A couple of years ago there was new rules that were promulgated by the bureaus to reduce the ‘effect’ when you are specifically applying for a mortgage. Not a car, Not a credit card…a mortgage! The rule was to give you a window of approximately 15 days where during that period the ‘pulls’ within that period by different mortgage company SUBSCRIBERs would NOT have a ‘greater’ effect. Meaning you could have 6 mortgage companies pull and it would only count as 1 pull.
Not sure if that rule has changed since then. Check with the bureaus and verify.
Re: pulling my own credit report… CLARIFICATION - Posted by hg-nyc
Posted by hg-nyc on May 18, 2002 at 09:52:16:
Looking over my response I see that I said, “Any time you pull or anyone pulls a credit report…”. I can see how this might create confusion/question.
I should clarify that by “Anyone pulls” I meant anyone who is a SUBSCRIBER to the Bureaus as a Company; a Company being any company in the business of pulling reports to review your credit for ‘credit granting or credit review’ purposes. This would include any realestate agency, mortgage company, apartment complex manager, auto dealer, etc.
By “you pull” I was referring to when you have the ability to pull your own credit report when you work inside one of the companies mentioned above. e.g. you are a Rental Agent for an apartment complex and ‘you pull’ your credit report on thier SUBSCRIBER account. I did this when I was a credit manager for one of the largest Home Improvement companies in the Northeast. Everytime I did this it affected the score.
The safest method is as Pat ORourke pointed out, getting it directly from the Bureaus, either by mail or online.
Did anyone find out if MYFico.com will affect the score?
Re: pulling my own credit report… OH Yeah! - Posted by Charity
Posted by Charity on May 16, 2002 at 21:31:49:
Actually, if you go to myfico.com and pull it, it says right there that it will NOT lower your score to pull for yourself. Are they lying?
Charity
Re: pulling my own credit report… OH Yeah! - Posted by hg-nyc
Posted by hg-nyc on May 17, 2002 at 17:25:21:
I am not familiar with that site. I’d heard there was some new rules being floated by politicians that ‘everyone’ should have ‘access’ to the FICO as it has become THE determining factor in many creditors ‘automated’ systems.
I would venture that if that site is sponsored by the bureaus themselves then it does NOT affect your score. Contact them and find out!
Re: pulling my own credit report… OH Yeah! - Posted by Bruce Lawson
Posted by Bruce Lawson on May 17, 2002 at 08:20:37:
Hi Charity,
No they are not lying it is true as I responded to a post above those credit pulls are listed as permissible purpose, no one is extending credit to someone reviewing their own score. There are various reasons why people look at our credit not just for loans and such, and those not for granting credit are permitted and will not affect a persons score.
Sincerely,
Bruce Lawson