How are your Inquiries looking?

[ceejx]

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@tmbr10 wrote:

Even though it is popular belief that Inquiries have no bearing on your FICO score after a year, creditors can still see the inquiries and factor them into credit decisions.

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It's not just a belief, it doesn't have any bearing on FICO, FICO only "sees" last 12 months of inquries and ignores anything past which helps in instant approvals, however in a manual review, you're right, factors are still on the credit report.

That aside, EX = 6, EQ = 7, TU = 5 .. 18 total, all from between April 2012 and July 2012

[MyCreditSucksTheMost]

EQ-17...............11 were for auto loans that I applied for all in a week period, so I assume this will eventually reflect accordingly, or not count against me? Someone with some knowledge on this matter please elaborate.

TU-4

EX-1

[ceejx]

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@MyCreditSucksTheMost wrote:

EQ-17...............11 were for auto loans that I applied for all in a week period, so I assume this will eventually reflect accordingly, or not count against me? Someone with some knowledge on this matter please elaborate.

TU-4

EX-1

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auto loan inquiries within a 14 day period only count as 1 as far as FICO calculations go, manual reviews are different, they can take them as they want, but I doubt they'll ding you for rate shopping an auto loan

[Duncanrr]

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@seigex wrote:

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@MyCreditSucksTheMost wrote:

EQ-17...............11 were for auto loans that I applied for all in a week period, so I assume this will eventually reflect accordingly, or not count against me? Someone with some knowledge on this matter please elaborate.

TU-4

EX-1

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auto loan inquiries within a 14 day period only count as 1 as far as FICO calculations go, manual reviews are different, they can take them as they want, but I doubt they'll ding you for rate shopping an auto loan

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You know that just bugs me.  Why cant they standarized the various scores?  It would be nice if your rate shopping for house or car that a clearing house pulls your credit data once and then the various lenders could go to that clearing house and access your info for their system.  Is there anyway around the various massive inquiries that come from home/car shopping?

[ceejx]

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@Duncanrr wrote:

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@seigex wrote:

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@MyCreditSucksTheMost wrote:

EQ-17...............11 were for auto loans that I applied for all in a week period, so I assume this will eventually reflect accordingly, or not count against me? Someone with some knowledge on this matter please elaborate.

TU-4

EX-1

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auto loan inquiries within a 14 day period only count as 1 as far as FICO calculations go, manual reviews are different, they can take them as they want, but I doubt they'll ding you for rate shopping an auto loan

---

You know that just bugs me.  Why cant they standarized the various scores?  It would be nice if your rate shopping for house or car that a clearing house pulls your credit data once and then the various lenders could go to that clearing house and access your info for their system.  Is there anyway around the various massive inquiries that come from home/car shopping?

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Not sure what your complaint is, if you shop both a home and a car within a two week period, then the max you will get is two inquiries as far as FICO is concerned... however doing both at the same time is a bad idea anyway since a new auto loan would effect a mortage and visa versa ....  as far as a way around, get a pre-approval on an auto loan or mortgage from your credit union or bank of choice and research the hell out of it beforehand so that you know what you're getting into.

[Duncanrr]

The issue comes under manual reviews. Some lenders count them all and don't care if FICO scores them as 1 inquiry.

[ceejx]

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@Duncanrr wrote:
The issue comes under manual reviews. Some lenders count them all and don't care if FICO scores them as 1 inquiry.

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Just to be my typical blunt self, they have all the right in the world to score them that way since they have to take on the associated risk with providing credit. And if it takes 2 months for a car loan to show up on your credit, then for all they know you got 10 separate cars with 10 inquiries over that time.

[Duncanrr]

True and I can ignore lenders that refuse to offer credit in those situatithotho

[AvaMommy]

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@Duncanrr wrote:

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@seigex wrote:

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@MyCreditSucksTheMost wrote:

EQ-17...............11 were for auto loans that I applied for all in a week period, so I assume this will eventually reflect accordingly, or not count against me? Someone with some knowledge on this matter please elaborate.

TU-4

EX-1

---

auto loan inquiries within a 14 day period only count as 1 as far as FICO calculations go, manual reviews are different, they can take them as they want, but I doubt they'll ding you for rate shopping an auto loan

---

You know that just bugs me.  Why cant they standarized the various scores?  It would be nice if your rate shopping for house or car that a clearing house pulls your credit data once and then the various lenders could go to that clearing house and access your info for their system.  Is there anyway around the various massive inquiries that come from home/car shopping?

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+1...I totally agree

Im still waiting on AMEX ZNYC to tell me their findings from a manual review due to "too many inquires" (majority were from car and home shopping the laster part of 2011 and some in 2012)

[rtw]

EX-6, TU-6, EQ-1