Credit Inquiry Question

Anonymous · ‎05-10-2015

Hey all, I have a credit inquiry question.

I know that there is nothing I can do about credit inquires (stay on for 2 years, affect your credit for 1). About a year ago I applied for credit at... um.. everywhere. This was before I read any posts here and before I was truly focused on rebuilding. I realize those are just going to have to stay on for another year. Sigh.

However, about 7 months ago I shopped around for a car. During a 2 week time frame I applied at 4 different places. Ultimately I got the car loan from my credit union. Each of those 4 inquiries is showing up on my credit report as a hard pull. I thought that when you shopped for a car, those inquiris only counted as one. Is there anything I need to do on my end to make that happen? Is it possible they are impacting my score as 1, but are still showing the details for each one on the actual report?

I realize in a few more months it will all be moot anyway but I'm just curious if there is anything I can do about this or if it's just a waste to worry over.

Thank you!

Anonymous · ‎05-10-2015

Each inquiry has a purpose flag. They will be scored as a single inquiry for the purposes of FICO, but will appear individually on your report.

takeshi74 · ‎05-11-2015

@Anonymous wrote:
I realize in a few more months it will all be moot anyway but I'm just curious if there is anything I can do about this or if it's just a waste to worry over.

It is just a waste to worry over. If you want to avoid inquiries you have to avoid applying for credit. When car shopping, sort out your financing ahead of time and do not allow the dealership to pull your credit.

Anonymous · ‎05-11-2015

Yeah, I get that now... just was playing the "bury my head in the sand and stay willfully ignorant" game for far too long. But, I haven't applied for any credit in 7 months and have no intention of applying for anything, anytime soon!

seanny · ‎05-11-2015

I suggest you write to your credit union and explain with the situation. Tell them that you are trying to rebuild your credit and that you would greatly appreciate it if they would remove the 4 hard inquiries or at the very least switch them to soft pulls. I did this early this year and it worked with my credit union. They removed 1 HP that was recent. Also, make sure to be very endearing and flattering in your letter.

I'm curious if something like this has ever worked on an actual prime lending bank.