Starting Score: 532/564 10/21/12
That was always my understanding. It does make a certain amount of sense, though, to adopt a similar system for cards.
With the interest rates of cards and sometimes the actual card received based on credit reports, FICOs, and internal scoring algorithms, you can't always tell what you're going to get when you apply for a new card. For example, you may apply to US Bank for a Cash+ at 13.99% and get a Cash Rewards at 23.99% instead. Consumers should be given the opportunity to shop around for cards like they do for a mortgage.
djrez4 wrote:That was always my understanding. It does make a certain amount of sense, though, to adopt a similar system for cards.
With the interest rates of cards and sometimes the actual card received based on credit reports, FICOs, and internal scoring algorithms, you can't always tell what you're going to get when you apply for a new card. For example, you may apply to US Bank for a Cash+ at 13.99% and get a Cash Rewards at 23.99% instead. Consumers should be given the opportunity to shop around for cards like they do for a mortgage.
What was your understanding? That multiple CC inquiries do or don't count as one?
What you say makes complete sense, however what makes sense and what actually IS are two different things. You would think though that if this were true that this would be published somewhere for us to see. I want to believe this but I'm erroring on the side that it is not true. 
note though that its on each report.
so if they pulled all three reports 3 times it will only be counted as 1 time for each report
not 1 time for all of the reports.
so for example my toyota loan.
the dealer and toyota pulled all three of my reports.
since i already quallified for the best rate they only pulled it once each =) and didnt shop me around as they say.
so it should count as 1 pull on each report instead of 2
creditnocash wrote:note though that its on each report.
so if they pulled all three reports 3 times it will only be counted as 1 time for each report
not 1 time for all of the reports.
so for example my toyota loan.
the dealer and toyota pulled all three of my reports.
since i already quallified for the best rate they only pulled it once each =) and didnt shop me around as they say.
so it should count as 1 pull on each report instead of 2
Huh? I'm not sure which post you are replying to, but I was asking about credit card inquiries and not auto or mortgage inquiries. I think we are mostly on the same page that inquiries for autos and mortgages during a small window (14 days to 30 days??) are counted as one. The question is, is this the same case for credit cards?
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