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Question about credit checks

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tvshooter
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Question about credit checks  Reply with quote  

I have credit freezes with the three bureaus in order to help protect me from identity theft. I get a copy of my credit report once every 4 months from one of the three bureaus. The last one I got from Equifax showed that a retail company I've never heard of did a credit check on me (as if I was applying for credit with them). My question is, if a company does a credit check on someone who has a credit freeze, wouldn't they be unsuccessful and the attempt would NOT show up on my report, or does it show up even if they just tried and were declined due to the freeze?
Post Sat May 30, 2015 1:01 am
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Wino
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Assuming you did not authorize the check, contact the credit bureau in question and dispute the check. If the company has nothing with your signature on it, then the bureau must remove all disputed claims within 30 days, or answer that it has been affirmed.

Mention in the registered letter, return receipt requested, that your credit if frozen, you did not authorize the check, and that you did not apply for any credit.

One warning about the above: There are many ways to have your credit checked without your approval. If you have a revolving account or periodic payments (existing loan), then the company supplying the service (cell phone or power company, for instance), or the company servicing the loan can do soft checks periodically to insure you still have the means and ability to pay. Make sure this is listed as a hard check before you attempt to dispute it.
Post Sun May 31, 2015 1:10 am
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tvshooter
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No, it's not a hard check, it is even listed under the column of things that don't affect my credit score. I'm just curious as to if it's an indication that my credit freeze is useless, or if a simple attempt to check my credit will still show up on my report even if a freeze prevented them from getting it. The company in question is an out-of-state women's clothing company called "Midnight Velvet". (I am a heterosexual male, unmarried, and have never heard of them.) Also, I am completely, 100% debt-free, so it can't be related to any outstanding debt I have.
Post Sun May 31, 2015 4:28 am
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Wino
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If it's a soft check, I'd forget about it. Someone entered a number wrong, but I'd probably sign up at creditkarma or creditsesame so I could keep a closer eye on my accounts. The 4 month check at annualcreditreport - I do it the same way - is good for "official" checks, but the two sites I mentioned let you check daily, if you like, to see what's going on with your account. The only bureau you won't be able to check this way is experian, but two out of three is better than none out of three.

If you're worried about it, Dave Ramsey touts Zander Insurance's ID theft insurance, which will assign a case worker to clear up the problems if you do fall victim to a thief. I don't know what it costs, and since I'm in mostly the same boat you are, I'll say that I don't personally have ID theft protection.

Have you done a web search for that firm? Perhaps you can find out why or how they did the check. If someone gave your name and SSN, then I'd probably opt for the insurance, even with the credit freeze.
Post Sun May 31, 2015 4:56 am
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tvshooter
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Yes, I searched them. It seems to be a legitimate clothing company, just nothing I'd have any reason to solicit. I'm really just wondering if a credit check on their part should show up on my report if I have a freeze in place. In other words, is my freeze actually working? Nothing was charged, it just sends up a red flag to me.
Post Sun May 31, 2015 2:17 pm
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Wino
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Now I see what you're asking. A credit freeze ONLY prevents hard credit inquiries. Nothing else. If someone tries to open credit in your name, it should generate a hard inquiry, but it doesn't always do so. Sometimes, agencies issue credit without the check. This will probably lessen as computer do more of the checks, but it's possible for a credit card to send you - or anyone posing as you - a card even if they don't do the check.

Think about it. Credit cards make most of their money from folks who carry a balance. Therefore, the more people with cards, the better chance a credit card company has to make money. With people doing the checks. if they avoid checking folks who might not get credit, they'll lose potential customers. Therefore, it is in the best interest of the credit card company to issue a card, even if the recipient is NOT eligible for it. From this, it makes sense to randomly issue cards without due cause.

So, in your situation, you have a hard freeze. IF someone checks, they get nothing, but it's possible they DON'T check, so ANYone who applies with your information gets a card. Even if it is NOT you. They get a card in your name. This is how identity theft happens.

As long as Credit Card companies make more money from folks who "shouldn't" have a card, compared with money they have to pay out for folks with fraudulent cards, they'll keep issuing "bad" cards, which includes ID theft cards.

You've done about everything an individual can to do prevent random theft. Now, if you shred all personal docs, you have added another layer of protection.

Overall, though, there's nothing you can do to PREVENT ID theft. Keep your documents shredded and give our your SSN as few times as possible, and that's the best you can do. Nothing is 100%, espeically when it comes to thieves.
Post Sun May 31, 2015 5:35 pm
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hughmashni
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There are several varieties of credit cards. General purpose cards can be used anywhere. Most general purpose cards are unsecured, meaning the issuer extends a credit line line based mainly on your credit history.

credit card processing solutions
Post Tue Jul 14, 2015 6:35 am
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CredStart dotCom
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✅ If you need boost or fix you credit score, try...  Reply with quote  

here, quick and effective help: www.credstart.com
Post Sat May 06, 2017 1:42 pm
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jumboloanadvisors
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Yes, if you have a credit freeze, you should def be alerted when someone pulls your credit. It depends on the bureaus though - some are more lax than others and you do have to renew every 90 days with Transunion.
Post Tue May 09, 2017 8:35 pm
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anirudh
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quickly go through https://www.mymoneykarma.com/credit-score.html for more help related to credit score
Post Thu Aug 31, 2017 7:35 am
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