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Member
HArley
Posts: 7
Registered: ‎03-27-2007
0

Inquiries Falling Off

How long does inquires stay on your report? Also I see that I  applied for credit for auto financing  with only one company  and several companies pulled my report.
 
Please help!!!!! Do I report to CB  that I in fact did not apply w/these companies? By the companies that I DID NOT apply directly with reporting that they pulled my report  causes addittional inquires  that counts against me.
Moderator Emeritus
masdeocho
Posts: 2,050
Registered: ‎04-17-2007
0

Re: Inquiries Falling Off

Inqs stay on your report for 2 years.  But only the ones within the most recent 12 months count in your score.
 
For auto loans (and mortgages, but not credit cards), all inqs made within a 14-day period are supposed to count as a single inq.  So I wouldn't worry about it unless they fall outside that period.
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Bartender, bring another round of FICOtinis please!

9.4.2011: TU 805. EQ 815.
Senior Contributor
Noah_Bodie
Posts: 4,635
Registered: ‎03-11-2007
0

Re: Inquiries Falling Off

To allow one to car shop and house hunt, a group of inquiries within "a window of time" are supposed to not count against you in the way that a bunch of CC inquiries would. However, the argument is not persuasive to me. Inquiries are inquiries. Either hard or soft. Name, address and date. They aren't qualified as for a car loan, home loan, CC, or LOC at a Bed, Breakfast and Brothel.

 

All that said, EQ inquiries can get deleted with relative ease. EX is about impossible without serious intimidation or threat of lawsuit. TU is in the middle on the difficulty scale.

Moderator Emeritus
masdeocho
Posts: 2,050
Registered: ‎04-17-2007
0

Re: Inquiries Falling Off

Gotta disagree, in principle.  All inquiries are not created equal.  Consumers should not be discouraged from rate shopping for car loans and mortgages; in fact I think the window should be longer.  But in the FICO mind-set if someone is suddenly applying for lots of CCs, there must be trouble brewin'.  Either the person is suddenly in doo-doo and needs more credit fast, or they are getting rejected everywhere they apply.  Clang clang clang go the FICO alarm bells.
 
I was unaware that BB&Bs extended LOCs.  :smileyhappy:
-----------------
Bartender, bring another round of FICOtinis please!

9.4.2011: TU 805. EQ 815.
Senior Contributor
Noah_Bodie
Posts: 4,635
Registered: ‎03-11-2007
0

Re: Inquiries Falling Off

If it's a human being looking at one's report, then I agree with you they are likely to consider the circumstance. 15-20 inquiries in a short window while one was car shopping is no biggie. Even spread out over 3 months, the home loan officer will be OK with the fact that one took 3 months to find the right car and the right deal, IMHO.
 
But built into the FICO scoring model? Not buying it. If the inquiry was qualified in some way on one's reports, with a high level category, or if some high level category were stored and not reported on the consumer's report, then OK.
 
How can FICO scoring possibly know the difference between 15 inquiries from car dealers and car loan fiance companies, versus 15 inquiries from CC companies?
 
BB&Bs offer a variety of services, or so I've been told. :smileywink:
Moderator Emeritus
Tuscani
Posts: 6,182
Registered: ‎03-29-2007
0

Re: Inquiries Falling Off



Noah_Bodie wrote:
If it's a human being looking at one's report, then I agree with you they are likely to consider the circumstance. 15-20 inquiries in a short window while one was car shopping is no biggie. Even spread out over 3 months, the home loan officer will be OK with the fact that one took 3 months to find the right car and the right deal, IMHO.
 
But built into the FICO scoring model? Not buying it. If the inquiry was qualified in some way on one's reports, with a high level category, or if some high level category were stored and not reported on the consumer's report, then OK.
 
How can FICO scoring possibly know the difference between 15 inquiries from car dealers and car loan fiance companies, versus 15 inquiries from CC companies?
 
BB&Bs offer a variety of services, or so I've been told. :smileywink:


Its true. FICO knows somehow. I can only assume it has to do with the classification of the business or inquiry itself. Can't say for sure. :smileyhappy:
Senior Contributor
smallfry
Posts: 4,831
Registered: ‎04-20-2007
0

Re: Inquiries Falling Off

I've got a strange one. Scottrade is listed on my Equifax as both a hard and a soft pull. Both are listed on the same date.
Moderator Emeritus
Tuscani
Posts: 6,182
Registered: ‎03-29-2007
0

Re: Inquiries Falling Off



smallfry wrote:
I've got a strange one. Scottrade is listed on my Equifax as both a hard and a soft pull. Both are listed on the same date.


That's not uncommon. You will usually see a soft for promotional reasons, then the hard once you take the bait. :smileyhappy:
Valued Member
iignatii
Posts: 31
Registered: ‎04-08-2007
0

Re: Inquiries Falling Off

How do you delete inquiries from EQ and TU
Moderator Emeritus
Tuscani
Posts: 6,182
Registered: ‎03-29-2007
0

Re: Inquiries Falling Off



iignatii wrote:
How do you delete inquiries from EQ and TU


Wait two years.

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