TU DID NOT LIE!

[LBCS]

Yes, I have some accounts that do not expire for 2 more months - so in order to prevent cascading effect in case I am AAed, I better draw down my HELOC (which, ironically enough is from BOA ).

 

BOA has pulled 2 softs this month alone - is this normal? I wish I had looked at my TU report via the backdoor more often.

 

If I do get busted by BOA, yes, I will have to pay everyone back and you would have been proven right. But it has been pretty profitable so far and I am worried that it might end because of a stupid CRA.

 

The problem is (and I've pointed this out before) that if a creditor shuts you down you have to take penalties on the deposit accounts. I'm just not willing to take that risk. I've found a better way by cycling purchases on 1% rewards cards. That's 1% a month, over the period of a year that's 12%.

 

[Shawnee]

Now would freezing your report really stop TU from adding on legitimate, past inquiries back onto your report? I'm thinking it wouldn't.

No

 

So you agree?

 

Just making sure I understand that everyone discussing freezing their reports to stop this from happening will only be a wasted attempt.

 

Please people, don't give TU another ten bucks!

 

Exactly.

 

I stopped giving them money a year ago and they still locked me out.

[nyrfann]

Yes, I have some accounts that do not expire for 2 more months - so in order to prevent cascading effect in case I am AAed, I better draw down my HELOC (which, ironically enough is from BOA ).

 

BOA has pulled 2 softs this month alone - is this normal? I wish I had looked at my TU report via the backdoor more often.

 

If I do get busted by BOA, yes, I will have to pay everyone back and you would have been proven right. But it has been pretty profitable so far and I am worried that it might end because of a stupid CRA.

 

The problem is (and I've pointed this out before) that if a creditor shuts you down you have to take penalties on the deposit accounts. I'm just not willing to take that risk. I've found a better way by cycling purchases on 1% rewards cards. That's 1% a month, over the period of a year that's 12%.

 

Maybe I missed it but did your inq's come back?

[LBCS]

No they have not. But someone posted the link to TU backdoor and I noticed several BOA softs, including 2 from this month. I have no doubt if my inquiries do come back, I will be busted by BOA in a trice. I have 2 biz cards that maxed out completely and a personal card that has $18K on a limit of $45K. All at 0%.

 

Yes, I have some accounts that do not expire for 2 more months - so in order to prevent cascading effect in case I am AAed, I better draw down my HELOC (which, ironically enough is from BOA ).

 

BOA has pulled 2 softs this month alone - is this normal? I wish I had looked at my TU report via the backdoor more often.

 

If I do get busted by BOA, yes, I will have to pay everyone back and you would have been proven right. But it has been pretty profitable so far and I am worried that it might end because of a stupid CRA.

 

The problem is (and I've pointed this out before) that if a creditor shuts you down you have to take penalties on the deposit accounts. I'm just not willing to take that risk. I've found a better way by cycling purchases on 1% rewards cards. That's 1% a month, over the period of a year that's 12%.

 

Maybe I missed it but did your inq's come back?

[dnm45227]

well with this apparent development and the previous eq c* implimentation the ONLY good thing i can see about all this is we MAY have seen the last "what is b*?" thread.

[Shawnee]

Yes, I have some accounts that do not expire for 2 more months - so in order to prevent cascading effect in case I am AAed, I better draw down my HELOC (which, ironically enough is from BOA ).

 

BOA has pulled 2 softs this month alone - is this normal? I wish I had looked at my TU report via the backdoor more often.

 

If I do get busted by BOA, yes, I will have to pay everyone back and you would have been proven right. But it has been pretty profitable so far and I am worried that it might end because of a stupid CRA.

 

The problem is (and I've pointed this out before) that if a creditor shuts you down you have to take penalties on the deposit accounts. I'm just not willing to take that risk. I've found a better way by cycling purchases on 1% rewards cards. That's 1% a month, over the period of a year that's 12%.

 

 

BofA has pulled once a month like clockwork for me. I don't know why they would be pulling two, but I do no creditors set up flags for rising balances.

 

Cycling purchases on rewards cards is more work but less worry. Plus, instead of paying down balances slowly at or slightly above the minimum you PIF. That's worked to my advantage with Citi biz who keeps increasing the lines every couple of months.

[gweedoh]

Because it's hypocritical. The same people that are here preaching the virtues of forcing the CRAs to comply with the FCRA are the very same ones that are clamoring because they've finally decided to comply.

 

Without being disrespectful to you opinion, they may have started to comply, but they are complying with one component. If they (and maybe they are) looked at the whole system and fixed the whole system , it would gain more respect. If they fix the inquiry component I would like them to fix the system of reporting correct information. From my own experience, something as simple as my correct name proved to be a daunting task (not for TU, but another agency) to resolve. I had sent everything short of my dna, because it was not an item I was going to let me drive crazy, I let it go. But I have to say, this was not a difficult task, a correct name is not to much to ask of a CRA. So I can understand people's frustration when they spend months trying to correct an item in thier report and it is not accomplished but yet inquiries are.

I agreed with this position a few posts back. No question their practices are bass ackwards and this is frustrating to all of us. But I can't with a clear conscience mouse about it when all along I knew it was a violation and did nothing about it.

 

It bumps me that others with the same knowledge and tenancy to look the other way are taking position that TU somehow wronged them by complying with the FCRA. Now magnify that times 10 for the people that promoted B* and are now jumping on the the "TU is satan!" bandwagon.

 

Frustrated? Understandable. Wronged? Not a chance.

[Curious]

I have never laughed at others, at least not on purpose.

 

This is a very serious matter for me - When I pulled TU via the backdoor I saw BOA pulling softs regularly. If my inquiries come back, I could get killed by BOA in a heartbeat - and I have huge balances with them. I am sure there are others in my shoes - and here we have people laughing at my plight.

 

I understand what you are saying - but no one thinks about it at that time. You accept a situation as given - and suddenly a bolt from the blue drops down like this.

 

WOW! LBCS, you are really soft & pink right now, I like it!!!

 

Remember this moment when next you fire up those keystrokes against someone suffering choking debt, CC AAs, etc...BUT I hope things stay on track with you and your accounts, this whole situation sucks BIG nutz.

Ditto!

[nyrfann]

No they have not. But someone posted the link to TU backdoor and I noticed several BOA softs, including 2 from this month. I have no doubt if my inquiries do come back, I will be busted by BOA in a trice. I have 2 biz cards that maxed out completely and a personal card that has $18K on a limit of $45K. All at 0%.

 

Yes, I have some accounts that do not expire for 2 more months - so in order to prevent cascading effect in case I am AAed, I better draw down my HELOC (which, ironically enough is from BOA ).

 

BOA has pulled 2 softs this month alone - is this normal? I wish I had looked at my TU report via the backdoor more often.

 

If I do get busted by BOA, yes, I will have to pay everyone back and you would have been proven right. But it has been pretty profitable so far and I am worried that it might end because of a stupid CRA.

 

The problem is (and I've pointed this out before) that if a creditor shuts you down you have to take penalties on the deposit accounts. I'm just not willing to take that risk. I've found a better way by cycling purchases on 1% rewards cards. That's 1% a month, over the period of a year that's 12%.

 

Maybe I missed it but did your inq's come back?

Well I'd hold off doing anything until if and when the inq's come back. GL! Edited July 3, 2008 by nyrfann

[wwbtbl]

Identity theft is a huge problem for creditors and it has morphed into using legal immigrants that left the country to go back as well as innocent citizens. These crooks are smart, at least the good ones are and they would work hard on files of individuals and leave them somewhat dormant until the time was right. These crooks would use piggybacking to establish good lines and then apply for credit and use the cards for miniscule amount and bump off the inquiries. They probably got most of their info from places like this. Good people sharing information for good purposes then used for bad things. This would drive up the scores and they would look like ideal customers and then they would have like $400k in lines max them all out in matter of days and walk away. This is still happening at my POE. We look at the CBR we pulled and updates and they all look great and no reason to suspect. We reach out to the Credit Bureaus and they investigate and inform us over and over that this person has 60-100 hard inquires for credit in the last year. As a creditor we inform them we didn⦣8364;™t see them, but we did see all these accounts being opened with no inquires and then they open up about B* to try to cover themselves.

AUs are not going away what is changing is how FICO scores them. Many credit card issuers are worried about the effect FICO08 will have and FICO will still sell other scores and most lenders will still us AUs in internal scores.

 

Don't your fraud people comply with the US Patriot Act for real ID (i.e., not just rely on a single consumer report) ?

 

and I find it hard to believe that crooks care about B*

 

but as TU and the other CRAs DO provide additional information about inqs (i.e., the number of times a SSN has been entered) why does your POE only rely on reported hard inqs to decision applications? Why not exclude AUs from use in your internal scores?

 

Of course we and other major CCs use multiple sources to verify customer information. The rings that were using this were very smart and used a lot of people that had left the country. They would take over their ssn or tin numbers and act as if they never left. Change the addresses and have tons of good history on the cbr and then hit. Some CBRs were marinated for 48+ months and then the hit them. Some car dealers really got killed, but it was mainly CCs.

 

They absolutely used B* to manipulate the reports as most creditors have a threshold for INQs that systemically decline apps with too many hard inq. They were able to build perfect reports for these individuals. They had fake places of businesses set up for these people mostly computer companies and flowers shops that appeared in the phone book and business registries like MANTA. The number of INQ would have severely impacted their scores as would the reduction of score affect from being an AU on other cards. These people would have tiny files and then massive files with 800-825 scores and verifiable income. There was really no way of looking at the CBRs, and other tools and see it as fraud until you had been hit so hard you picked up a pattern and were able to weed SOME out. They had everything set up and the creditors, like mine wanted someone to blame and wanted changes. That's why stuff like this happens.

 

Like gun laws; somebody killed someone with a gun. Let's get rid of all guns. But crooks will still get the guns and if someone really wants someone dead they'll hit them with a car. Then we have to ban cars. These fraudsters will mutate and come up with something else. As I said they are really good.

I am so sure this is an alias you are posting under! Funny thing is, the member I think you really are joined 2 days after you did. Quess that's just a big coincidence

 

No aliases for me. Just a dude from Vegas who lurks all the time and rarely posts.

[wwbtbl]

. They had everything set up and the creditors, like mine wanted someone to blame and wanted changes. That's why stuff like this happens.

 

Isn't it the CRA's themselves that refuse to institute a PIN number system, what would put a stop to a large part of this?

 

From what I understand it is CRAs and creditors trying to prevent that. We have whole department dedicated to people who have forgotten their password for their online accounts. Some people do it everytime they login. It would be a huge pain for the CRA to deal with this and the creditors would lose applicants to the frustrations. People cancel their accounts with us all the time because they can't remember a password or the High School they went to.

[MaTTeR]

Just updated TC and still at 0. I posted earlier in the thread that I seen no C* yet either.

[centex]

um, 19 pages in one day?

 

summer of love, junami, ameriprise...it was time for another one that you log on and say to yourself '25 pages...whiskey tango foxtrot...that wasn't there a few hours ago'

[gweedoh]

um, 19 pages in one day?

 

summer of love, junami, ameriprise...it was time for another one that you log on and say to yourself '25 pages...whiskey tango foxtrot...that wasn't there a few hours ago'

This is a new one on me.

[TrevorHere]

um, 19 pages in one day?

 

summer of love, junami, ameriprise...it was time for another one that you log on and say to yourself '25 pages...whiskey tango foxtrot...that wasn't there a few hours ago'

 

yeah. I'd say we were overdue for one of these

[shanagain]

um, 19 pages in one day?

 

summer of love, junami, ameriprise...it was time for another one that you log on and say to yourself '25 pages...whiskey tango foxtrot...that wasn't there a few hours ago'

This is a new one on me.

 

ROFL, I'm so stealing that.

[centex]

um, 19 pages in one day?

 

summer of love, junami, ameriprise...it was time for another one that you log on and say to yourself '25 pages...whiskey tango foxtrot...that wasn't there a few hours ago'

This is a new one on me.

 

spend enough time talking to tower and ground and that damned alphabet just sort of sticks there

[radi8]

Just updated TC and still at 0. I posted earlier in the thread that I seen no C* yet either.

 

 

Up by one here for a grand total of two.

[Shawnee]

um, 19 pages in one day?

 

summer of love, junami, ameriprise...it was time for another one that you log on and say to yourself '25 pages...whiskey tango foxtrot...that wasn't there a few hours ago'

This is a new one on me.

 

Phonetics for WTF. Could also be william thomas frank.

[juststarting]

Do inqs. show on a soft pull? If not, then there not much to worry about. Right?

[gweedoh]

Do inqs. show on a soft pull? If not, then there not much to worry about. Right?

I'm not sure why this would matter when determining cause for concern but I believe hards do show on a soft.

Edited July 3, 2008 by gweedoh

[clambert1273]

holy shiznit.... 25 pages

[inspiringmind]

Do inqs. show on a soft pull? If not, then there not much to worry about. Right?

 

When you apply for credit no one does a soft and that is the main issue as to why this is even an issue, but I get your question and I'd like to know the answer too. What does a creditor see when they pull a soft?

[MaTTeR]

My understanding is yes, creditors who pull a soft can see the number of inquires. I believe it all depends on the creditor as to how much detailed information they are requesting, more info likely costs them more for the soft.

[juststarting]

Do inqs. show on a soft pull? If not, then there not much to worry about. Right?

 

When you apply for credit no one does a soft and that is the main issue as to why this is even an issue, but I get your question and I'd like to know the answer too. What does a creditor see when they pull a soft?

I ask because I could care less about new credit. I am concerned with AR on existing accounts when 20+ inqs show up.

 

I am logging into WaMu now to see if PFICO shows number range of inqs.

Edited July 3, 2008 by juststarting