When banks compete you don't always win!

I worked for a very large bank for the last three years. My job was to assist in putting together a website and to work the new leads that came in via e-mail or through the banks chat function. I originated loans in every state with the exception of New York. While I was there I would often pull credit on new clients and they would often be amazed at how low their credit score was. At first I thought they were just thinking optimistically, but after I noticed a serious trend I began to ask questions. There is a large website that claims you win when you use their website, but in all reality you could really loose! Let me explain to you why. When your credit is pulled multiple times your credit score (FICO) changes and not for the better. This is how the company equips banks to compete. When you enter your information on their site the company sells your information to multiple people. Yes they sell it. They sell to banks and brokers. Once the multiple banks and brokers buy your information, they all pull their own credit report. When banks compete your credit does not win. That is why it's important to use someone you trust and not just an electronic lead generator.