12-13-2011 09:00 PM
12-13-2011 09:01 PM
12-13-2011 09:39 PM - edited 12-13-2011 09:41 PM
Auto loan inquiries should only count as one if they're within a short period (14-45 days depending on the scoring model).
General inquiries outside of that.. no, there's really nothing you can do. If they're legitimiate inquiries, then they belong on the report and you can't really get rid of them. You'll just have to wait the 12 months for them to stop hurting your score.
If you had an inquiry for something random that you didn't approve - then you might be able to get the creditor to remove it. However, any kind of permissable purpose (applying for new credit, or a credit line increase, or to unsecure a card, etc) is a valid inquiry and you're stuck with it.
I ended up having a ton of inquiries on my EQ report (like twice as many as I thought I did), so now I'm stuck in the same boat - just have to wait for them to age off the report. They drop off your report after 24 months, and should stop hurting your score after 12.
12-14-2011 06:15 AM
To add to what was said about the auto loans (and mortgage apps, for others): they won't show as being "grouped" on your reports, but the FICO scoring formulas will count all the related inqs in a certain time frame (varies by report) as just one.
So all will display, but only one in that time frame will count.
It sounds like you have a lot of other inqs, too. For those who DON'T have a lot of inqs, other than a clump for an auto loan or mortgage, you might get turned down for a CC for too many inqs. That's a computer doing the thumbs-down which only counts up the inqs. Call into the lender and ask for a human to look at your report, and explain that you weren't out trying to finance six cars; you just had six inqs for one attempted car purchase.
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.