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Valued Contributor
creditnocash
Posts: 2,236
Registered: ‎07-23-2012
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joint account vs co signer- credit vs auto loan

when i apped for my best buy card(will be two years in october) i was denied. 

then re-applied minutes later with my mother cosigning. well turns out it was a joint account not co signer. 

well anyways her report shows the inquriy. but mine does not. (scheduled to fall of her report in 2 months)

(we were approved btw for the store card at 2000 limit)

 

will this be the case for an auto loan? 

or was this just a freak accident? 

Current: Discover Fico 689 8/14 Walmart Fico 689 9/14

Inquiries (24 Months): EQ 3 TU 0 EX 0 | Most Recent: 09/05/2014


2014 Goals:
Lower Utility
47%(OUCH!!)
Freedom Signature

Amex Zync(Unicorn)
Chase Freedom$1500
Discover IT$2900
Citi Diamond Preferred$6000
Citizens Mastercard$7000
Mega Contributor
RobertEG
Posts: 17,456
Registered: ‎03-19-2007
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Re: joint account vs co signer- credit vs auto loan

I would speculate that in the re-app process, they already had a fairly rececent copy of your CR, and just wanted to check out the credit of the co-signer/co-applicant.

Thus, it appears that in the re-app, they only pulled her CR.

 

If you initiate a new request for credit with another lendor, they will most likely pull the CRs of all responsible parties.

Auto inquiries have a special status in that multiple inquiries coded for that purpose that are made within a certain window of time are counted in scoring as only a single inquiry.  That window varies with the version of FICO that is used.

Valued Contributor
creditnocash
Posts: 2,236
Registered: ‎07-23-2012
0

Re: joint account vs co signer- credit vs auto loan


RobertEG wrote:

I would speculate that in the re-app process, they already had a fairly rececent copy of your CR, and just wanted to check out the credit of the co-signer/co-applicant.

Thus, it appears that in the re-app, they only pulled her CR.

 

If you initiate a new request for credit with another lendor, they will most likely pull the CRs of all responsible parties.

Auto inquiries have a special status in that multiple inquiries coded for that purpose that are made within a certain window of time are counted in scoring as only a single inquiry.  That window varies with the version of FICO that is used.


 

hmm. i don't think that was the case. i apped for chase and cap one earlier that year but never for hsbc. 

She put all my info into the screen and made me put in social address and everything and told me I was declined. 

This would have been my oldest one. oct of '10

it doesn't show up on any of my reports. 

 

 

Current: Discover Fico 689 8/14 Walmart Fico 689 9/14

Inquiries (24 Months): EQ 3 TU 0 EX 0 | Most Recent: 09/05/2014


2014 Goals:
Lower Utility
47%(OUCH!!)
Freedom Signature

Amex Zync(Unicorn)
Chase Freedom$1500
Discover IT$2900
Citi Diamond Preferred$6000
Citizens Mastercard$7000

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