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Will I get a bad inquiry for requesting CLI?

Established Contributor

Re: Will I get a bad inquiry for requesting CLI?

That's good information on who and when they can do a hard pull.
 
Two years ago I bought a Lexus.  On the day I bought the car and financed it for 36 months the dealer did a hard pull prior to doing the paperwork for the loan.  Then, nine days later there was another hard pull from Toyota financial as the final loan documentation was done.  I assume there was a lag from the time I purchased the car and when the final paperwork was done by Toyota financial services.  So two hard pulls showed up on my credit report, one from the dealer and one from Toyota.  There isn't anything I could do about it and I don't think it dinged the score much.  


Message Edited by Watchmann on 06-22-2008 09:14 AM
Message 11 of 13
Moderator Emeritus

Re: Will I get a bad inquiry for requesting CLI?

Watchmann--
 
The 2nd inq would not have been counted and should have been seen as a de-duplicate within that time frame.
~*~*~*~*~*~*~*~*~*~*~
From 700 in 2008 to 498 in 2012...
4/23/12 -- BK 13 date of filing EQ = 505
4/18/12 -- EQ 498
12/5/13 -- EQ 669
Here we go.... back on track.
Message 12 of 13
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Established Contributor

Re: Will I get a bad inquiry for requesting CLI?

WhirledPeasPlease wrote--
 
The 2nd inq would not have been counted and should have been seen as a de-duplicate within that time frame.

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Perhaps, but my subsequent FICO reports showed two inquiries, nine days apart.  I conclude that although all inquires show up in the total count, the timing of them means it only counts as one on the FICO score.    
 
 
This is what showed up on one of my FICO reports in early 2007:
 
Inquiries

An inquiry indicates when a business, usually a lender, has checked your credit. The inquiries listed here are the number of times in the 12 months since the date of this report that a lender has checked your credit at TransUnion. These inquiries appear because you applied for credit with the listed company. Inquiries associated with applying for new credit are the only kind of inquiry that may hurt your FICO® score.

Inquiries affecting your FICO® score
Total: 2 Times
 
August 17, 2006 Toyota Motor Credit
August 08, 2006 Sterling McCall Lexus  




Message Edited by Watchmann on 06-22-2008 06:21 PM
Message 13 of 13