03-18-2009 03:36 PM
So after the longest wait in the world (almost 2 weeks, lol) I finally got my denial letter in the mail. It reads that I have too many inq's to be approved. They pulled EXP.
First, I have too many inquiries because I recently purchased a car and not all of the inquiries are reading as auto loan requests. Second, I have a few lates and a CO from 2002 (paid) on my file. Do you think it is worth it to recon? If the lates and CO were a factor in the consideration wouldn't the letter tell me this? What is an easy way of getting all of these inq's to read as auto loan? They were all done within the same week, so I was under the assumption (possibly incorrect) that they only counted as one inq on your report. I only have two other inq's other than these auto loan inqs.
Any help appreciated. Thanks!
03-18-2009 04:49 PM
That's interesting. I have a LOT of inquiries on my file all within 2 days of each other because I shopped around for the best rate on an auto loan. I am worried that when I decide to apply for the Chase Freedom Card in six months, that I will get a denial based on the number of inquiries on my report.
You should definitely call the backdoor number and request a reconsideration. Hopefully a live human being is able to notice that the inquiries are due to rate shopping. You can find that number by searching through the boards for "chase recon number." Please let me know how it goes if you decide to do this.
03-19-2009 07:28 PM
03-19-2009 09:00 PM
Forums posts are not provided or commissioned by FICO. Forums posts have not been reviewed, approved or otherwise endorsed by FICO. It is not FICO's responsibility to ensure all posts and/or questions are answered.† Advertiser Disclosure: The listings that appear on myFICO are from companies from which myFICO receives compensation, which may impact how and where products appear on myFICO (including, for example, the order in which they appear). myFICO does not review or include all companies or all available products.
* For complete information, see the terms and conditions on the credit card issuer’s website. Once you click apply for this card, you will be directed to the issuer’s website where you may review the terms and conditions of the card before applying. While myFICO always strives to present the most accurate information, we show a summary to help you choose a product, not the full legal terms - and before applying you should understand the full terms of products as stated by the issuer itself.
IMPORTANT INFORMATION: All FICO® Score products made available on myFICO.com include a FICO® Score 8, along with additional FICO® Score versions. Your lender or insurer may use a different FICO® Score than the versions you receive from myFICO, or another type of credit score altogether. Learn more
FICO, myFICO, Score Watch, The score lenders use, and The Score That Matters are trademarks or registered trademarks of Fair Isaac Corporation. Equifax Credit Report is a trademark of Equifax, Inc. and its affiliated companies. Many factors affect your FICO Score and the interest rates you may receive. Fair Isaac is not a credit repair organization as defined under federal or state law, including the Credit Repair Organizations Act. Fair Isaac does not provide "credit repair" services or advice or assistance regarding "rebuilding" or "improving" your credit record, credit history or credit rating. FTC's website on credit.