In doing a routine check of my credit report I noted that GMAC, my
mortgage holder, was checking mine like clockwork every three months.
As I had never been late with a payment, in fact for the last several
years I paid automatically by debit from my checking account, and I
was not applying for additional credit, I was baffled.
I called them up and to summarize their answer is was pretty much, "We
do it because we can." Some federal law permits it, so they do it.
They tried to tell me that this didn't affect my credit score, but a
banker told me that *any*
query causes a drop, even those that the
questioner claims do not affect your score.
I asked GMAC what it would take to get them to cease and was told that
it wasn't going to happen. Well, it better have by now since as I
promised them, I paid them in full last month. They can go to hell.