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appletree

Who is Credco?

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I just had an inquiry added and removed from Credco on my credit report with a date of May 24, 2012.  I have no idea what this is about.  They were not listed as an inquiry last week when I pulled my report. 

 

All I can find on online is they do inquirys when applying for a loan or mortgage and pull all three reports.  I didn't apply for either one.  May of 2013 I did apply for a car loan and was approved but it shows up as Wells Fargo. 

 

A lot of people are complaining about the same thing happening to them and no one seems to know who they are or why they showing up in such an odd way. 

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Credco is a creditor side monitoring service. Your existing creditors may use them to watch for "triggers" on your reports. Triggers include mortgage apps,bks, late payments, other inquiries, and more. They pull your reports and alert their customers if something changes.

Do they have permissible purpose? Probably, most likely, buried in the terms and conditions associated with one of your existing accounts.

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I applied for no credit in 2012 or several years before and have had no credit cards or loans until May of 2013.  No one would have had permission or reason to pull my credit.  Other than a few bill collectors over the last few years there should be nothing there.  Nothing at all. 

 

If they had permission to pull for anyone it should have shown up when they pulled it.  Not two years later.  Added and removed on the same date seems fishy to me. 

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Yes.  It was says added May 2012 and says removed 2012.  Popped up today on my monitoring service as a change.  It looks like this has happened to many people over the last few months. 

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First, if its gone...I think you'd have a hard time proving any kind of FCRA violation...and it certainly isn't hurting any scores now. In court, they'd probably state "bono fide error".

But there's still a lot of questions. What credit monitoring service? What credit report? Its hard to be certain who actually has the software problem.

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