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Monthly CC Pull?


talleyrand
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Juniper/Barclays is pulling my TransUnion report every month. Why would they do this? I have an Apple Credit MC with them. Got it when I got a new computer in January. The balance is less than 20% of the credit line, and a payment has never been late, so it's not like they would think I'm not going to pay. I'm going to pay the balance this month, here in a week or so. My plan had been to leave the account open, since everyone seems to agree that's a good idea. But aren't these monthly credit checks hurting me?

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Juniper/Barclays is pulling my TransUnion report every month. Why would they do this? I have an Apple Credit MC with them. Got it when I got a new computer in January. The balance is less than 20% of the credit line, and a payment has never been late, so it's not like they would think I'm not going to pay. I'm going to pay the balance this month, here in a week or so. My plan had been to leave the account open, since everyone seems to agree that's a good idea. But aren't these monthly credit checks hurting me?

I'll say that's ridiculous! I know (for whatever their reason) Lenders enjoy reserving the right to do Periodic Inquiries as long as you have an account with them. But Monthly is not considered as Periodic. Of course it is hurting your FICO Scores and it can be annoying.

1) They do this to damage scores. That's the name of their Game for them!

I find that with this Credit thing, it's all about Scores. Boost your Credit Score and Bam! Derogs and Inquiries will not hurt quite as much.

2) If it is truly worth it to you, leave the account Open as it will soon have a

1-year History. But I do not know if I would be so AGGRAVATED with a fairly New Account and their Monthly "HARD" or "SOFT" Inquiries (or monthly harassment) for as long as the Account remains open. :confused:

3) An Account with a Bal ~0~ still would remain open. Use it once in a while and just PIF. Pay them NO Interest. 8-)

4) Obviously J/B is Updating their accounts Monthly and the clerk is wrongfully doing Pulls with each and every Update. It could very well be some computer glitch that JB knows nothing about. :shock:

5) I certainly would write a complaint to J/B's Compliance Officer or Legal Dept. The address for Credit Disputes should be listed in your (fine printed) "Cardmember Agreement and Disclosure Statement" under the "Credit Reporting" section. Do NOT write to the addresses on your statement/bill. Those addresses are for billing disputes and/or inquiries about your statement. Do NOT telephone either because the Customer Service Reps will not have a clue as to what ya' talking about.

*Expect the experts to weigh in here.

Best Regards,

June

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IMHO, there are two reasons creditor pull your CRs. 1. to see if they should unilatererly up your credit line, and b. because of the "universal default" clause in their terms & conditions. I'd bet that b. is more important to Juniper than 1. They're looking for you to get a derog from somebody else so they can up your interest rate....

The best way to fight this is...pay it off, then don't use it. If there is a yearly fee, cancel the card.

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The best way to fight this is...pay it off, then don't use it. If there is a yearly fee, cancel the card.

Simply not using a CC does not close the Account, and they will most likely continue with their Monthly pulls. If you desire, you must officially "Close the Account" and they MUST report "Account Closed By Consumer". That would cancel the card as well before that January 2007 Yearly Membership fee is posted, if any.

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Simply not using a CC does not close the Account, and they will most likely continue with their Monthly pulls. If you desire, you must officially "Close the Account" and they MUST report "Account Closed By Consumer". That would cancel the card as well before that January 2007 Yearly Membership fee is posted, if any.

Cope did not suggest that not using it would close the account. He said stop using it [and keep it open], except if it has an annual fee... then close it instead.

Again, there's nothing wrong or illegal about a creditor doing monthly reviews. I'm not suggesting that the OP is a "bad risk," but often if a creditor gives someone with borderline or problem credit a card, for example, they check regularly to make sure that person is not falling into old habits with other creditors. Sometimes they check every 2 weeks if they feel there might be a reason for concern. They don't do it "to damage scores." To say it lowers/damages scores is incorrect.

OOPS, Cope... you posted while I was typing!!

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If I pay off the account and don't use it, and supposing the pulls continue to be those only I can see that don't affect the score, is there any reason I should care if they keep making them?

NO. It's normal. As long as you continue to have an account with them, they have permissible purpose to check your reports. The only they can't do is pull a HARD without a good reason, like if you request an increase.

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