My fiance and I were shopping around for a morgage in early February 2017. Since we're both USAA members, we decided that USAA may be a good option to check into. We completed the pre-approval paperwork and got the quoted rate, and decided that it was not a good deal, and that we had better options.
Fast forward to today, March 6, and I find out that CREDCO is continuing to pull inquries on my credit report for a morgage that we didn't sign up for. Why would my credit continue to be pulled nearly a month after our initial application with USAA, especially since we made it clear to the USAA rep that we were not going with their option?
We appreciate you bringing this matter to our attention. This is not the type of experience we expect for our members. We have taken this opportunity to share your comments with a colleague in our mortgage area who will research this matter further. We appreciate the opportunity to resolve your concerns. Thank you. -Gus
Hello @AW72, We will be happy to look into this situation. We understand the importance of this. I am engaging a subject matter expert that will review and reply. Thank you for reaching out. ~ Suzy
I've seen this before. You obviously made someone angry by applying for a loan and then deciding not to go their way. Since you authorized a credit check, vindictive people can abuse that authorization and continue to pull hard credit reports on you as retaliation to screw with your credit score. Fortunately, multiple hard credit inquiries from the same company have a very low impact on your credit score. Still, it's frustrating and a bit juvenile to be so bitter that they have to do this to someone.
Why is CREDCO running my credit if I never authozied USAA or anyone to inquire about my credit.
I never completed the mortgage application.
Federal law prohibits you from inquiring about my credit history without consent and I am entitled to a penalty per violation of my right to financial privacy, even if you do not directly suffer damage as a consequence of the improper pull.
Any furhter voilations may result in legal action.
Credco is doing the same thing to me! I just checked my credit score, noticed that Credco has pulled my credit report twice! I've only applied for the one mortgage loan, but it would definitely be appreciated if this would stop! It's definnitely an annoyance. I hope your sitaution has improved and USAA was able to help :(
WhitMos, thank you for post and we certainly understand your concerns. Your concerns will be shared with a Subject Matter Expert, who will review your concerns and be in contact with you to further discuss. - Robert
I began the process of obtaining a home loan from USAA and have noticed multiple inquiries from CREDCO too. Apparently this it the norm with them. Maybe USAA should stop using them since they clearly have deceptive practrices!