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Credit Report Inquiries


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#1 SonOfGeb

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Posted 11 March 2012 - 01:33 PM

New York - Credit Report shows in the inquiry section that a bank pulled my credit 24 times in 6 months, up to 7 times in some months. I have no active personal accounts with the bank and have not applied for any, I did not give permission to have my credit checked. The inquiries appear to be a soft pull and fall under the code AR (account review). The only relationship I have with bank is an old small commercial loan, which is under a business name, and in good standing. I am a gaurantor on the loan as is my business partner. I am suspicious my business partner / ex- lover who is a senior executive at the bank is pulling my credit via the bank for personal purposes. I do not know the intent of the pulls and at this point do not know if / how this might negatively impact me (identity theft, stalking, leverage, etc.), but I believe it might be malicious and certainly puts me at a disadvantage in my business dealings with my business partner since he can see a snapshot of my current credit finances. Is there a crime here? Can I sue the bank, credit reporting agency, and or business partner? I am surprised no one red-flagged the excessive credit pulls. I have called the bank and every agency (Equifax, FTC, OCC, Attorney General, Bank) and no one seems to have dealt with this issue and are not helping much; though they have all said this wasn't right and had never seen that type of activity before. I have filed formal complaints and reports. Bank responded in a letter saying that the credits pulls shown on Equifax match the credit pulls issued by bank. That was all they said. I wasn't concerned the credit report was wrong, my concern is who is pulling my credit and why. There is no business reason that calls for pulling my credit almost twice a week; this seems personal. I have much more significant relationships with other banks and none of them show up on my credit report inquiry list. What can I do? Equifax recommended filing a police report, but it seems awkward since I don't know what this will accomplish, I do not know if there is a crime, I know only that a bank is pulling my credit often, but I cannot get answers as to why or who is initiating the credit pulls.



#2 Insons_Insontis

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Posted 11 March 2012 - 02:16 PM

Soft pulls are allowed and do not affect your credit score whatsoever.  Moreover, soft pulls do not get the details that a hard pull does.  If you want to end all soft pulls, you can opt-out.

Visit:
http://www.ftc.gov/b...edit/cre17.shtm
to learn more and / or opt out.


#3 SonOfGeb

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Posted 11 March 2012 - 03:31 PM

My issue is not about credit score, it is about someone pulling my credit to some capacity at their leisure, and I would think there are rules (business ethics) and laws against this.  I believe a credit check requires consent as well as a permissible business purpose.  Thus, I need to know when I consented to incessant credit checks (6 and 7 times a month), and what business purpose a bank would inquiry on my credit 24 times in 6 months.  I am having trouble getting answers to these questions, and the bank, since they are listed on my credit report should be able to answer my questions, but so far they have not.




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