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Bought new car this week

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Jpmack29
Regular Contributor

Bought new car this week

and it took like 9 inquiries so far, as the dealer was trying to beat my outside financing. So far I have seen no negative score drops but positive increases- 3-4 on equifax and 25 points up on experian. But, I once heard that within a time frame multiple inquiries while car shopping counts as one. So please explain this to me, do they all fall off and the only one I used stay? Thanks

Current (8/2015): Equifax 688, Transunion 689, Experian 708
Goal Scores: 700 across the board

Capital One Venture: $5500| Discover it: $4500| American Express Green Card: NPSL| Capital One- QuickSilver: $3000| American Express Everyday Card: $2000| Bank of America- Americard Cash Rewards: $1500 | Barclays Cash Rewards: $1300| Chase Freedom:$1200| Barclays Apple Rewards: $2000
Message 1 of 4
3 REPLIES 3
Anonymous
Not applicable

Re: Bought new car this week

I just bought a car three weeks ago. I had, if I remember correctly 11 or 12 inquiries. They don't fall off, but I am understanding from the forum that they are considered as one because it is obvious it is car shopping. I am hoping someone more knowledgable will chime in and enlighten us.

Message 2 of 4
DantGwyrdd
Frequent Contributor

z Re: Bought new car this week

As far as I understand, the automated scoring would only count them as one if they're coded correctly and they're not most of the time (they mostly just end up coded as regular inquiries); however, this should not really end up being a problem on manual review. 

Message 3 of 4
gdale6
Moderator Emeritus

Re: z Re: Bought new car this week


@DantGwyrdd wrote:

As far as I understand, the automated scoring would only count them as one if they're coded correctly and they're not most of the time (they mostly just end up coded as regular inquiries); however, this should not really end up being a problem on manual review. 


Correct if coded correctly they count as 1 for Fico scoring if done within a 2 week period, they all remain on file for 2 years.

Message 4 of 4
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