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Inquiry Question

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Anonymous
Not applicable

Re: Inquiry Question

I'll tag on a related question I was going to post in the general credit forum, and still may. DH had something like 7 inquiries across all bureaus when buying a car. All on one day. They say when you're getting a car loan or home loan they don't count multiple within a certain period of time, but how do they know? And is that only if a human is viewing? Or would the algorithms account for that?
Message 11 of 15
gdale6
Moderator Emeritus

Re: Inquiry Question


@Anonymous wrote:
I'll tag on a related question I was going to post in the general credit forum, and still may. DH had something like 7 inquiries across all bureaus when buying a car. All on one day. They say when you're getting a car loan or home loan they don't count multiple within a certain period of time, but how do they know? And is that only if a human is viewing? Or would the algorithms account for that?

Inquiries for mortgage or auto loans are counted as one in the eyes of Fico if done within a 2 week period. They have to be coded as such for Fico. Computers will pick them up.

Message 12 of 15
Anonymous
Not applicable

Re: Inquiry Question


@gdale6 wrote:

@Anonymous wrote:
I'll tag on a related question I was going to post in the general credit forum, and still may. DH had something like 7 inquiries across all bureaus when buying a car. All on one day. They say when you're getting a car loan or home loan they don't count multiple within a certain period of time, but how do they know? And is that only if a human is viewing? Or would the algorithms account for that?

Inquiries for mortgage or auto loans are counted as one in the eyes of Fico if done within a 2 week period. They have to be coded as such for Fico. Computers will pick them up.


Thanks for the reply. Is there any way that we can see the coding? 

Message 13 of 15
Anonymous
Not applicable

Re: Inquiry Question


@Anonymous wrote:

One thing is certain:  Cap One pulls all three for every card.  Ouch.  I do nto have many inquiries, but the tripple pulll for both Qs1 and Venture I felt the sting....the 10k Venture approval lessened the sting, but still...



I have read about the 3x pull from Cap, but i have not found that to be the case.

 

I got the SAKS WEMC last july and there was only one pull from EQ

Message 14 of 15
Anonymous
Not applicable

Re: Inquiry Question


@Anonymous wrote:

@Anonymous wrote:

One thing is certain:  Cap One pulls all three for every card.  Ouch.  I do nto have many inquiries, but the tripple pulll for both Qs1 and Venture I felt the sting....the 10k Venture approval lessened the sting, but still...



I have read about the 3x pull from Cap, but i have not found that to be the case.

 

I got the SAKS WEMC last july and there was only one pull from EQ


We are talking about the bank's cards: Platinum MasterCard, QS1, QS, VentureOne, Venture  

Message 15 of 15
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