Commonbond

Revdex.com:***, a representative from CommonBond, explained the situation to me in detail Based on her explanation, I cannot fault CommonBond for what occurred Accordingly, the matter has been resolved
Sincerely,
*** ***

*** has confirmed that on Oct *, 2014, a number of credit checks had been mistakenly run in CommonBond's name due to a system error at ***You can see ***'s statement on the matter here: ***
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*** has informed us that the credit inquiries have now been removed

Thank you for taking the time to share feedback about CommonBond with the Revdex.com. We're always happy for people to reach out, though we're disappointed to hear we were unable to help you save on your...

student loans and you felt the information was misleading.  Regarding your concerns around lending requirements, we want to ensure you know CommonBond is built on a foundation of fairness when working with customers. Our underwriting decisions and resulting rates are completely automated and, per our policy, no judgmental overrides to our underwriting model are allowed. In this particular case we applied our underwriting model to the application in exactly the same way we apply the underwriting to every other applicant. Also, from time to time, like any lender, we reserve the right to update our underwriting model based on business needs and in full compliance with all applicable lending laws. Feel free to reach out to us with any additional questions or comments.
We apologize again for any inconvenience here. Tell us why here...

Review: This company has an unauthorized hard credit inquiry on my [redacted] credit report. I did not file am application with them.Desired Settlement: Removal of the hard inquiry and explanation of why it was made.

Business

Response:

[redacted] has confirmed that on Oct *, 2014, a number of credit checks had been mistakenly run in CommonBond's name due to a system error at [redacted]. You can see [redacted]'s statement on the matter here: [redacted] has informed us that the credit inquiries have now been removed.

Review: After spending considerable time inputting everything from my personal information to education information to employment history to loan details, CommonBond did a "soft" credit pull and told me I qualified for a loan with an interest rate that would fall within a certain range. CommonBond then asked for permission to do a hard credit pull, which would impact my credit. I granted permission, and CommonBond came back with a rate that falls well outside of the promised range. In fact, the rate they quoted is within 0.1% of my stafford federal loans that are in the 6% range. This is despite $4,000 of disposable income and no blemishes on my credit history. When contacting CommonBond with my complaint, their only response was that I should get a co-signer. Well, I don't have anyone standing in line to take on a $100,000 student loan debt from law school, so that isn't going to work. As a result CommonBond negatively impacted my credit by inducing a hard credit pull based on false promises.Desired Settlement: Fix the website so that it no longer makes false promises to induce people to authorize a hard credit pull. If not accomplished, I intend to file complaints with the appropriate banking bureaus and other regulators.

Consumer

Response:

[redacted], a representative from CommonBond, explained the situation to me in detail. Based on her explanation, I cannot fault CommonBond for what occurred. Accordingly, the matter has been resolved.

Sincerely,