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Credit Inquiry

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Anonymous
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Credit Inquiry

Clarification needed. I've heard that is you have multiple INQ for the same product but different lenders within a 30 period it's counted as one. Does this seem right?
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1 REPLY 1
Gunnar419
Valued Contributor

Re: Credit Inquiry

FOR SCORING PURPOSES ONLY, multiple inquiries for autos, mortgages, or student loans count as one if made within a short period. (Length of that period varies by scoring model.) This applies only IF the inquiries are coded properly, which they often are not.

 

ALSO, they will still show as individual inquiries on your credit reports and you may occasionally be denied credit because of excess inquiries.

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