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openvz_ca

join:2008-12-13
canada

[Internet] SOP for Credit Checks now??

I signed up for Bell Fibe back in April...

I called the 310-bell number, agent said I get 6 months at half price etc, I gave him my information (billing info & standard things).

I ran an equifax report today and noticed that they did a formal hard-hit credit check on me!

I was never told this was part of the process, nor would I have signed up if it was. I take my credit report very seriously and I would never let something as petty as my ISP do one on me.

Has anyone else had this happen? and can they do this without my consent?

AFAIK I have to specifically consent to a credit check. They can't just do it.

They have also been making "soft-hits" once every 2 months since I've signed up.

kovy7

join:2009-03-26
kudos:8
What does a hard hit and soft hit mean ?

Doesn't look so bad...

Edit:

A ‘soft hit’ or a ‘hard hit’ is also known as a ‘soft inquiry’ or a ‘hard inquiry’. When you pull out your own Credit Report it is known as a ‘soft hit’ or a ‘soft inquiry’. On the other hand when you apply for a loan or a mortgage, the lender or the bank will pull out your Credit Report. When the bank or lender pulls out your Credit Report it is know as a ‘hard hit’ or a ‘hard inquiry’.

A ‘soft hit’ or ‘soft inquiry’ has no effect on your Credit Score but a ‘hard hit’ or ‘hard inquiry’ has exponential effect on your Credit Score. Exponential means that one or two ‘hard hits’ or ‘hard inquiry’ over a month will have little effect on your Credit Score. But if there were 5 or 6 ‘hard hits’ or ‘hard inquires’, the ‘hard hits’ will have a noticeable effect on your Credit Score. This is due to the fact that a ‘hard hit’ or ‘hard inquiry’ may signify a new loan and the more ‘hard hits’ or ‘hard inquiry’ the more probability that the consumer is in desperate need of a loan. On the other hand many ‘soft hits’ or ‘soft inquires’ may suggest that you are financially responsible and lenders may be more than happy to offer you a loan.


openvz_ca

join:2008-12-13
canada
said by kovy7:

What does a hard hit and soft hit mean ?

Hard-hit is a formal line that all other lenders see when they run your credit report. So if you apply for a credit card or mortgage, your lender will see all other lenders who did a credit check on you within the last x number of years. I think it's 3 or 5, I can't remember.

Soft hits are when a lender "checks in" on you from time to time. It shows up when you run your own personal report, but other lenders don't see it.

It's typical for mortgage companies or credit card companies to do this every quarter or yearly.

But I've absolutely never heard of this from an ISP. Rogers never even did this for my cell phone or cable!

It's absurd that a sub $60.00 per month service from a multi billion dollar company would warrant doing such a formal credit check and follow up.

My mortgage company didn't even check in on me as much as bell did in the last 6 months!

kovy7

join:2009-03-26
kudos:8
said by openvz_ca:

said by kovy7:

What does a hard hit and soft hit mean ?

Hard-hit is a formal line that all other lenders see when they run your credit report. So if you apply for a credit card or mortgage, your lender will see all other lenders who did a credit check on you within the last x number of years. I think it's 3 or 5, I can't remember.

Soft hits are when a lender "checks in" on you from time to time. It shows up when you run your own personal report, but other lenders don't see it.

It's typical for mortgage companies or credit card companies to do this every quarter or yearly.

But I've absolutely never heard of this from an ISP. Rogers never even did this for my cell phone or cable!

It's absurd that a sub $60.00 per month service from a multi billion dollar company would warrant doing such a formal credit check and follow up.

My mortgage company didn't even check in on me as much as bell did in the last 6 months!

Yeah this seems weird indeed... I never heard any of this either.


SHY
0x27
Premium
join:2010-06-21
Cote Saint-Luc, QC
reply to openvz_ca
They do not need your permission to run a credit check. Anyone can run a check if they are willing to pay for it.


Frank_IT
Premium
join:2003-11-01
Montreal
reply to openvz_ca
We have to allow them to do it. Yes they can do it without asking, but legally they cant!
--
Rogers - iPhone 4s 32gb


SHY
0x27
Premium
join:2010-06-21
Cote Saint-Luc, QC
reply to openvz_ca
Has nothing to do with legal or not. Anyone, at anytime, can run any credit check they want to as long as they are willing to pay for it. All it takes is money.


openvz_ca

join:2008-12-13
canada
said by SHY:

Has nothing to do with legal or not. Anyone, at anytime, can run any credit check they want to as long as they are willing to pay for it. All it takes is money.

That statement is 100% false.

Any company can do a SOFT credit check if they want.

A hard hit requires a customers written consent. No company can "just do it" no matter how much they are willing to pay.

yyzlhr

join:2012-09-03
Scarborough, ON
kudos:4
reply to openvz_ca
All major MSOs run credit assessments and they show up as hard inquiries. They must obtain permission in order to run the assessment. If you want, I'm sure you could escalate it high enough and have someone at Bell remove the inquiry from your report. If you don't want ISPs checking your credit, I would suggest signing up with a TPIA provider.

And it is absolutely not absurd for MSOs to run credit assessments. You should blame this on deadbeats who consistently sign up for services and rack up tens of thousands of dollars worth of debt and have no intention of paying for it, and then they attempt to do it again under a slightly altered name.


openvz_ca

join:2008-12-13
canada
said by yyzlhr:

All major MSOs run credit assessments and they show up as hard inquiries. They must obtain permission in order to run the assessment. If you want, I'm sure you could escalate it high enough and have someone at Bell remove the inquiry from your report. If you don't want ISPs checking your credit, I would suggest signing up with a TPIA provider.

And it is absolutely not absurd for MSOs to run credit assessments. You should blame this on deadbeats who consistently sign up for services and rack up tens of thousands of dollars worth of debt and have no intention of paying for it, and then they attempt to do it again under a slightly altered name.

Unfortunately, those deadbeats you're referring to are not my problem. As a business owner myself, I fully understand that doing business is a risk. If I wanted to do a credit check on a new customer I would 100% disclose it and have the customer sign a consent form.

The deadbeats should be referred to as the entry level CSO's who do not disclose that a hard credit check is a standard procedure for opening up a new account. Asking never hurts anything but business. And they probably know there are many people who would just say no. Again, not my problem.

No permission to run my credit was obtained. I will definitely be escalating this as high up the chain as I can.

yyzlhr

join:2012-09-03
Scarborough, ON
kudos:4
It's normal procedure to obtain consent from every customer when signing up. I've worked for several MSOs including Bell and it's always emphasized in the training that you must obtain permission to run a credit evaluation. Unfortunately, that was not followed in your case.


Anonymuss

@rogers.com
reply to openvz_ca
Okay, am I missing something here?
You gave them your billing information.
You signed up with them, which creates a credit account for you.
This isn't some sort of prepaid account.
Why wouldn't a credit account be a hard hit?
They need to know if you require a deposit or not based on your credit...

yyzlhr

join:2012-09-03
Scarborough, ON
kudos:4
said by Anonymuss :

Okay, am I missing something here?
You gave them your billing information.
You signed up with them, which creates a credit account for you.
This isn't some sort of prepaid account.
Why wouldn't a credit account be a hard hit?
They need to know if you require a deposit or not based on your credit...

The problem that the OP has is that they apparently never asked for consent. Consent is always required when performing a hard inquiry.


J E F F
Whatta Ya Think About Dat?
Premium
join:2004-04-01
Kitchener, ON
kudos:1
Reviews:
·Rogers Portable ..
reply to SHY
said by SHY:

Has nothing to do with legal or not. Anyone, at anytime, can run any credit check they want to as long as they are willing to pay for it. All it takes is money.

They can do a soft credit check, or a credit score check, but not a hard check. Soft checks basically verify information. Score checks are used by insurance companies to determine risk, however, they do not show up on your report.

You need to sign for a hard check, or agree to it.
--
If you can't explain it simply, you don't understand it well enough. - Albert Einstein

ns1225

join:2010-12-30
Montreal, QC
reply to openvz_ca
I thought it was odd but the last time I inquired, a Fibe TV salesperson asked for explicit permission for a credit check so I guess this is now going to be the case for everyone.

urbang33k

join:2010-02-13
Canada
kudos:1
reply to openvz_ca
sub 60$ a month bill

.... and $500-$2000 worth of rental set top boxes...