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Valued Contributor
maiden_girl
Posts: 2,095
Registered: ‎12-29-2011
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Lending Tree.com concern

[ Edited ]

I mentioned this in another topic about refinancing my vehicle. I applied through Lending Tree and only received 4 offers from them but when I looked at my CR...I had nearly 20 inquires from banks I didn't even apply with! Including Santander, Roadloans, Blue Harbor and Nix Check Cashing (to name a few) and these arent any of the banks I applied with. I called Lending Tree and they said they only matched me with 4 banks so I should only see 4 inquires...no...I said...I have 20 inquires including the 4 banks I have offers with according to your site and 16 other banks. The agent apologized to me and had my profile/account disabled and my "offers" removed. I have a Fraud Alert on my CR so I was a bit concerned about how all these banks I didn't apply with got my info and called me and pulled my credit...Just an FYI for people looking to purchase. Don't use Lending Tree.

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Frequent Contributor
CAnNY
Posts: 297
Registered: ‎02-24-2013
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Re: Lending Tree.com concern

Why would this matter if any pulls within a two week period for auto loans count as one? Am I missing something?

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Valued Contributor
Gunnar419
Posts: 1,158
Registered: ‎01-23-2013
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Re: Lending Tree.com concern


CAnNY wrote:
Why would this matter if any pulls within a two week period for auto loans count as one? Am I missing something?

In OP's shoes, it would matter to me for exactly the stated reasons: why are banks I have no relationship with nosing around in my credit?

 

But even if there turned out to be valid reason for that, 20 inquiries still looks like 20 inquiries when you're being considered for credit. True FICO's only supposed to SCORE them as one in that case, but lenders don't necessarily see 20 as 1 unless they do a manual review. Having that many inquiries, even for auto loans or mortgages, can play havoc with future credit approvals.

 

Good luck getting those removed, OP.

 

Valued Contributor
maiden_girl
Posts: 2,095
Registered: ‎12-29-2011
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Re: Lending Tree.com concern


Gunnar419 wrote:

CAnNY wrote:
Why would this matter if any pulls within a two week period for auto loans count as one? Am I missing something?

In OP's shoes, it would matter to me for exactly the stated reasons: why are banks I have no relationship with nosing around in my credit?

 

But even if there turned out to be valid reason for that, 20 inquiries still looks like 20 inquiries when you're being considered for credit. True FICO's only supposed to SCORE them as one in that case, but lenders don't necessarily see 20 as 1 unless they do a manual review. Having that many inquiries, even for auto loans or mortgages, can play havoc with future credit approvals.

 

Good luck getting those removed, OP.

 


Exactly. I am well aware of the 14 day period for rate shopping would count as one inquiry. But like was mentioned before, if a credit profile is being reviewed manually or otherwise, a lender does not see one inquiry...they see 20. I'm concerned about the security of my credit profile when Lending Tree says they only provided my information to 4 banks and 16 other banks have my information..calling both my home and cell phone back to back... My information only could have gone to the other lenders through Lending Tree. This was only meant to be a formative posts for other people looking to do business with Lending Tree. I think you'd be highly concerned if Santander...a bank operated in Spain called your home regarding a recent loan application you never applied to...

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Mega Contributor
Creditaddict
Posts: 19,991
Registered: ‎10-23-2007
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Re: Lending Tree.com concern

are you trying to refi the 4.9 that is in your sigi?

if that's the case I probably wouldn't unless you had a specific relationship with a credit union... probably won't get lower with a major bank on a refi.

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Valued Contributor
maiden_girl
Posts: 2,095
Registered: ‎12-29-2011
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Re: Lending Tree.com concern

@creditaddict

I was but now I've decided to just keep my current loan. I can't get anyone under my current rate so refinancing doesn't make sense :smileysad:
The truth is out there...
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Regular Contributor
KoolDev
Posts: 225
Registered: ‎09-26-2013
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Re: Lending Tree.com concern

Lending Tree uses a double barrel shotgun with Beta mags to scatter your info across the nation.     I bought my wife a car back last november and the Nissan dealership did the same thing.   I know it is supposed to count as one BUT it shows 12 different inquiries for that day( i forget which report had that)

 

 

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