Disputing Credit Report Inquiries.. I did a major f up

[Anonymous]

Long story short...was supposed to be in the garden till December when 5 inquiries were going to drop and then I would be within the 5/24 rule. Well..I messed up and got carried away because I seen a vehicle I wanted to buy and submitted a credit application. When they started to send my credit report to other lenders to "shop around" for a good deal, I ended up with a total of 5 inquiries! I ended up not getting the car because I was in too much shock due to how much damage the inquiries did to my credit. Now I'm in panic mode and I'm trying to get the inquiries removed. I'm currently in the process of getting them removed under the premise of "I was falsly assumed to be a cosigner for another customer and my credit was run mistakenly." So far the process seems to be going well but I'm not sure how to contact experian to dispute inquiries. I tried calling their phone number and the automated thing goes nowhere. I tried disputing online but it doesn't have an option to dispute inquiries so I don't know how to contact them. If I have to, I will send information through the actual mail. Is it possible that if there are changes to my transunion report and the inquiries are removed, will experian will just copy them and remove the inquiries without me having to contact them directly? Any information helps. Would hate to be stuck in the garden for another 2 years when I only had 6 months left.

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UPDATE: I was able to get the first initial inquiry removed from my credit report. 1 down and 4 more to go. 

[Gunnar419]

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@Anonymous wrote:

 I'm currently in the process of getting them removed under the premise of "I was falsly assumed to be a cosigner for another customer and my credit was run mistakenly." 

Is this true? It doesn't sound as if it is, and if you're disputing HPs on false premises, you could cause more damage to yourself than the HPs themselves are causing.

I just had a &^%$# car dealer run up six new HPs on me against my permission and although I'm still mad about it, it took a whole three points off my TU and EQ.

Would hate to be stuck in the garden for another 2 years when I only had 6 months left.

I know this may sound judgmental, but I'm an impulse driven person myself, so please take it as one overly reactive person to another. It appears you created this problem for yourself (as you partially admit), first by being impulsive about vehicle shopping, then by being impulsive about trying to fix the probably minor harm you did to your credit.

Don't want to be in the garden for another two years? Then don't go out and run up new HPs! 

Now that you've done so, don't try to pretend you didn't. Trade that spade for a seedling and get real with yourself, the CRAs and your fellow gardeners. Two years in the garden to develop some balance, perspective, and impulse control might be just what the credit doctor ordered.

Good luck to you!

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[stellar]

5/24 for chase means no more than 5 new accounts in 2 years...not inquiries.

Don't worry so much about inquiries, they're not that big of a deal.  

[RobertEG]

FICO only considers inquiries for auto, mortgage, or student loans purposes as one inquiry for scoring purposes.

They recognize that  consumers shop around for best rates on such major types of credit, and thus "de-dupe" the inquiries for scoring purposes.

Additionally, inquires only affect scoring for one year.

They will remain in your credit report for approx. two years, but are removed from scoring after one year.

[Anonymous]

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@Gunnar419 wrote:

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@Anonymous wrote:

 I'm currently in the process of getting them removed under the premise of "I was falsly assumed to be a cosigner for another customer and my credit was run mistakenly." 

Is this true? It doesn't sound as if it is, and if you're disputing HPs on false premises, you could cause more damage to yourself than the HPs themselves are causing.

I just had a &^%$# car dealer run up six new HPs on me against my permission and although I'm still mad about it, it took a whole three points off my TU and EQ.

Would hate to be stuck in the garden for another 2 years when I only had 6 months left.

I know this may sound judgmental, but I'm an impulse driven person myself, so please take it as one overly reactive person to another. It appears you created this problem for yourself (as you partially admit), first by being impulsive about vehicle shopping, then by being impulsive about trying to fix the probably minor harm you did to your credit.

Don't want to be in the garden for another two years? Then don't go out and run up new HPs! 

Now that you've done so, don't try to pretend you didn't. Trade that spade for a seedling and get real with yourself, the CRAs and your fellow gardeners. Two years in the garden to develop some balance, perspective, and impulse control might be just what the credit doctor ordered.

Good luck to you!

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You literally read me through and through. I am impulsive and it is something that I'm working on. I was almost annoyed by your response but I'm always honest with myself and everything you said is correct. But to add some additional information, the car I was going for was one of my dream cars and I've had my eye on it for about a month or longer and I happened to catch the dealership slipping on the price. They couldnt deny selling me the vehicle 3k below the price they thought they listed it. After talking with my bf about it he gave me the green light to run my credit to see what offer I would get. I ended up getting a ridiculously sweet deal (the kind of deal you dont pass up). After doing all that, he realized how real the situation was and the impact it would be. Thats when he decided to tell me that he had some major life plans for us starting sometime next year ( a proposal). He knows and shares the same sentiment as I do that if we do get engaged then we would want to get married within a year time span. So having the new car with a 5 year term may postpone our plans. It was hard to choose...dream car or dream wedding. So I chose the dream wedding and hope the dream car comes back around. Lesson learned completely. Loud and Clear.

[Gunnar419]

Alioops, thank you for being gracious and very real. I don't blame you at all for wanting to be annoyed at my post, but kudos to you for overcoming that and being so good about it.

That's definitely some story, too! A proposal! Yeah, that would change a LOT of things. So now I say not only good luck to you but felicitations, also.

[Anonymous]

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@Gunnar419 wrote:

Alioops, thank you for being gracious and very real. I don't blame you at all for wanting to be annoyed at my post, but kudos to you for overcoming that and being so good about it.

That's definitely some story, too! A proposal! Yeah, that would change a LOT of things. So now I say not only good luck to you but felicitations, also.

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Of course! I know my first reaction was to be like "what the hell this guy doesn't even know me. whatever dude." but all you did was state facts that I needed to hear. I hate admitting that I messed up but I'm trying to undo the mess I put myself in. If I could get at least 2 inquiries off my report, I would feel a lot better about it. Cant blame my bf but it would have been helpful for him to tell me before I submitted my credit application. And thank you for nice response. I actually enjoyed this one from the begining lol

[Anonymous]

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@RobertEG wrote:

FICO only considers inquiries for auto, mortgage, or student loans purposes as one inquiry for scoring purposes.

They recognize that  consumers shop around for best rates on such major types of credit, and thus "de-dupe" the inquiries for scoring purposes.

Additionally, inquires only affect scoring for one year.

They will remain in your credit report for approx. two years, but are removed from scoring after one year.

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If it doesnt impact my score that much, why did my score plunge on my credit karma and credit wise (from cap1) start alerting me like crazy that my credit score was dropping after each inquiry posted on my credit report? 

[medicgrrl]

Because those are Vantage scores, which are a different scoring company than FICO. They aren't really used in lending and have a different algorithm than FICO.

[Anonymous]

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@medicgrrl wrote:
Because those are Vantage scores, which are a different scoring company than FICO. They aren't really used in lending and have a different algorithm than FICO.

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So are you telling me not to freak out and that its actually not a big deal? Like I actually have to read/hear it/ see it for me to believe it because my nerves are shot right now lol. Like really bad. So tell me either " Yes, you dont have to freak out. Its not a big deal actually because it doesnt really hit my actual fico score that hard" or "No. You f'd up but there is nothing you could do about it now but dont freak out."