Credit check with add on???

[PaulaMurf]

Anyone know if DVC will pull our credit again if we add on? We still have an outstanding loan (but we only have 10 payments left) so DH says - if there is no credit pull, we can add on... we had an identity theft, so, its a circus ever time someone pulls our credit...

I have a call in to my guide, but... need to know FASTER... LOL

TIA
Paula in CT

 

[Happy Birthday Cat]

My understanding is that they don't do a credit check for an add on if you are current with your payments and have been paying regularly.

HBC

 

[quentina]

We did an add on...No credit check. We did have to fill out the paperwork, however, was able to skip the financial side (no w-2 needed etc).

Kim

 

[Moose for Sprite]

Just did the 120 add on with no credit check

 

[Tramp68]

I was told the no credit check was only if one of your contracts was PIF. But it sounds like it is not the case.

 

[weathernlu]

I was told the no credit check was only if one of your contracts was PIF. But it sounds like it is not the case.

PIF?

So if you are current on payments and you have always been on time, there should be no additional credit check?

 

[Tramp68]

PIF = Paid In Full

I was told you had to own one contract that was fully paid for to evade the credit check..again it sounds like others have different experiences, I could have bad info

 

[weathernlu]

Got ya. If anyone finds out for sure, I'd appreciate an update.

 

[CharlesTD]

I know they did one on us for both our add ons but we are in Canada so I am not sure if they have different rules for us or not.

 

[keishashadow]

We too had a problem with "attempted" identy theft thanks to eBay/PayPal security breach, had to change all the bank accounts and put fraud alerts/warnings on credit cards & credit file, etc. The warning placed on our files consisted of a moratorium on accessing our account info by ANY creditor unless we first ok'd it via telephone request to our home number.

Trust me, pull your credit report, you will be amazed as to the number of "routine" inquiries it will contain in a year. Not only for new credit you apply for but: in accepting credit cards, you've granted permisison to all of your existing creditors access at least twice a year; utility companies, cell phone providors, refinancing, mortgage lenders, new employers, etc., as well as preliminary queries from potential creditors who want to offer you pre-approved credit.

Our fraud alert is soon to expire, wish the standard method of operation would follow its' procedures. Good Luck.

 

[Indea88]

My initial contract required 30% as down payment because of a recent illness that affected credit score. I added on right after closing the initial contract and was told that 30% down payment was required again because the loan with Disney had not been in place for a year yet. They didnt repeat a credit check with the add on just required the additional down payment towards the principal. I hope this helps some!!

 

[PaulaMurf]

So, just finally did the add on - with the xtra points, buyback for downpayment, and NO credit check - the answer was that the credit check was not required bc my account was at least 5 years old with never a late or missed payment.

So - there you go.

(I also bought a resale add on...LOL, its been a busy day, wait till DH gets home. LOL)

Paula in CT