BMWFS pulls my credit report twice last three months

Off-Ramp
1

Hi all, recently when I was reviewing my credit report, I noticed that BMWFS pulls my credit information twice during the last three months. The inquiries are soft inquires and are reported under the “account review inquiry” category. I have had a lease account with them since late 2019. I never missed a payment and sometimes even paid 10~20 days in advance.

I regularly check my credit report and am certain that this never happened before. I know that banks which I have credit card accounts with regularly “soft” pull my credit report to check my current credit situation. But the only inquiry from BMWFS before this was when I applied for the lease back in 2019…

Should I be worried about this? I do not know if it’s something that I’ve done that “triggers” them to review my credit file… Has anyone had similar experiences? Any help & advices would be highly appreciated. Thanks!

BTW, for anyone that is interested in getting their credit report, the three major credit bureaus are now offering free weekly credit report. Just google “free credit report” and click the first non-ad result.

2

Hmmm soft? More than likely they are going to offer you a deal on a new car.

3

Have you received any marketing for their credit card? Could be pulling to see if you qualify for that.

4

Why dont you just called BmwFs and inquire? They owe you a response.

5

No, you shouldn’t be worried at all, it’s most likely just pre-qual for a credit card or other finance offer as mentioned above.

Even if it is an internal account review there’s still nothing to worry about, it’s not like they can repo your car or do anything else just because your credit score changes. These are done mostly for internal bank reporting purposes and forecasting potential default rates and other trends at the macro level, etc.

At any given time I have probably have hundreds of soft pulls sitting on my account from all sorts of banks and other companies and I never bat an eye at them.

6

Thanks for the reply!

7

Thanks! No credit card offers received so far… Soft pulls are generally two categories: promotional (used for advertisement purpose) or account inquiry (used for reviewing one’s credit file). The soft pulls from BMWFS are in the account inquiry pull category but not the promotional, which makes me feel a bit worried… :sweat_smile:

8

Thanks for the reply! Certainly hope that’s the case… Got tired of the current car anyway :joy:

9

Care to share the logic behind paying 20 days in advance? I mean most of us simply login and set the payment date or create automatic disbursements. All of which can also be done 20 days in advance.

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