snipped-for-privacy@THE-DOMAIN-IN.SIG wrote on [Sat, 22 Sep 2007 08:51:30 -0500]:
I know Australian credit cards have a grace period, assuming the prior months bill was paid in full, I'd assume an enzed card would also. What that means is that if you pay in full you don't get charged any interest.
[...]
My insurance (auto) gets renewed every six months. They only checked my credit report once, when my agent switched insurers a while back. If they were checking at every renewal it would show up as repeated inquiries on my credit report. This all might be subject to various state regulations, I'm not sure.
And unfortunately, unlike when you get turned down for credit, I don't think they have to tell you they rejected you based on credit report. On the other hand, I suspect it's primarily financial industry jobs that might require this, they certainly should need your permission in advance to check your report, so at least you know about it.
-Mark Bole
It's better to keep the card open by using it once or twice a year and keeping the number locked away the rest of the time. That way no one dumps anyone, it's more like a "friends with benefits" relationship.
-Mark Bole
Yeah, I thought this was worth ignoring. My insurance gets renewed every 6 months, but I'm pretty sure they have never checked my credit report. I've been doing business with them for 30 years. Also, no employer will ever check my credit report. No employer, present or future.
Elizabeth Richardson
However, they don't need to do a credit check to get your FICO score(s). That's separate from your credit report(s). FICO already has the information from the credit companies, which they use to put together the scores. There's also a new FICO product, called the "insurance score".
Brian
What's to stop them pulling a soft request? Like the credit card companies do? I see requests from strange places crop up from time to time under marketing or soft pulls.
It really depends on the employer and industry. Several IT consulting firms I have worked for have asked for permission to check credit.
I don't think this is true. I think that a person's credit history is pulled each time a score request is made. I can't find the reference now to where I read that, so I might just be making it up...
-Will
Even if true, and I'm not sure it is, the point is that the insurance compay or whatever doesn't access your credit report. It merely gets a score report from Fair-Isaac. If FICO itself accesses, that's another matter. I don't think those show up on your credit report.
Brian
Oh yes, they show up on your credit report.
Yeah, you're right.
Brian
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