kimber6337

Excessive Inquries

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Well, even though most of you don't know me I can tell you I knew better than to let my husband go buy his own car without me.

Now I am left with a denial due to too many inquires and the EIGHT inquires the dealership pulled the trigger on. Livid doesn't begin to cover it.

I have searched the boards but there aren't any recent posts on removing hard inquires for an auto loan.

Does anyone have any recommendations as to the route to take? I found a sample letter online, but it seems that EX just never removes anything and EQ is a lost cause since I have to deal with CSC.

Hoping for an encouraging post from someone!

Kimberly

Houston

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I believe there is a period when auto dealerships pull all 3 credit scores, but the excessive inquiries do not hurt your credit score. I forgot the allotted time, but I'm sure an more experience poster will have better information.

I believe if it's the same as searching for the interest rate that fits you best for your house...

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Once upon a time you could dispute EQ INQs, but no longer. Also, by pulling CR's daily, one could bump INQs off when the softs overwhelmed the hards...(the CRAs DB and code is poor in this regard). EX INQs can only age off and that has ALWAYS been the case.

EQ will chop excessive softs each month and some CR pulls will only show the latest soft, not all softs.....so it has become much more complicated!

You do have one option....(if I read your post correctly)... these INQs are on YOUR CR but YOU weren't there.... I would contact the creditors and tell them that you didn't authorize the pull and get it the heck off your CR.

FICO says that multiple pulls don't give you more of a ding than 1 pull. In my personal experience, that has not been true.

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Well it's not as bad as you think. For 30 days all credit pulls for an auto or home mortgage will only count as one pull if they're all made in that 30 day window.

The old way disadvantaged people who tried to shop around for a better interest rate so they changed it quite a few years back.

Looking for a mortgage, auto or student loan may cause multiple lenders to request your credit report, even though you are only looking for one loan. To compensate for this, the score ignores mortgage, auto, and student loan inquiries made in the 30 days prior to scoring. So, if you find a loan within 30 days, the inquiries won't affect your score while you're rate shopping. In addition, the score looks on your credit report for mortgage, auto, and student loan inquiries older than 30 days. If it finds some, it counts those inquiries that fall in a typical shopping period as just one inquiry when determining your score. For FICO scores calculated from older versions of the scoring formula, this shopping period is any 14 day span. For FICO scores calculated from the newest versions of the scoring formula, this shopping period is any 45 day span. Each lender chooses which version of the FICO scoring formula it wants the credit reporting agency to use to calculate your FICO score. Credit Report Inquiries: How Credit Checks Affect Your Credit Score

If you were denied credit for excessive credit inquiries it must be related to other forms of credit you applied for before the auto hunt or after.

I guess in short all "8" of those inquiries will only count as "1" inquiry on your credit reports. So let your husband out of the dog house.

Edited by Hal Jordan
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Thanks for the responses guys.

So on hubby's cr there were 6 inquires to begin with and yet he was denied by 2or3 creditors for excessive inquires. it wasn't excessive - but it sure was when they got done! heck they hit your CR now just to change light company providers!

I will also try to dispute them with dh wasn't there when they were pulled.

I appreciate all your input!

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Well, even though most of you don't know me I can tell you I knew better than to let my husband go buy his own car without me.

Now I am left with a denial due to too many inquires and the EIGHT inquires the dealership pulled the trigger on. Livid doesn't begin to cover it.

I have searched the boards but there aren't any recent posts on removing hard inquires for an auto loan.

Does anyone have any recommendations as to the route to take? I found a sample letter online, but it seems that EX just never removes anything and EQ is a lost cause since I have to deal with CSC.

Hoping for an encouraging post from someone!

Kimberly

Houston

In the past I have gotten MANY deletions with CSC. I don't know about them now. I need some to get off now, so I will find out soon!

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