Excessive Inquiries

[manucci]

On November 2003, I went to Longo Toyota in Los Angeles area to see if I qualify to purchase a vehicle. I allowed them to run my credit. I did not qualify, but when I received my credit report last month, I realized there were 11 inquiries from different institutions on my reports. Isn't that excessive? Is there something I can do about this?

Michael

[DocDon]

That's what they consider 'customer service'. They know your scores aren't high enough when they pull your first report, so instead of letting you know, they try other routes to get you financed (mostly because they often get a kickback from their finance companies).

It is excessive, and it all comes down to greed. They did you no favors and only succeeded in lowering your score about 30-40 points. I would complain to the general manager (who'll probably tell you they didn't do anything wrong) and have them remove the inquiries. Explain the damage done to your credit score and the way future creditors will look unfavorably on the excessive inquiries.

If they refuse to do anything about it, report them to your state Attorney General. This kind of damage to your credit should not be allowed.

FICO does offer some relief since they understand shopping for the best deal for autos and mortgages, but 11 is rediculous and damaging.