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Frequent Contributor
money_talks
Posts: 261
Registered: ‎07-02-2013
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Time where hard inquiries count as one? Does this include different types of credit?

I have 10 hard inquiries that began on July 1st, 2013. All these inquiries are for a car loan where I was shopping for best rates.

 

Until when will all these inquiries count as one inquiry? I am looking to apply for a credit card today, so would that still be counted as one inquiry during this time period? Or does the credit score differentiate between different types of credit?

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pizzadude
Posts: 9,674
Registered: ‎01-28-2010
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Re: Time where hard inquiries count as one? Does this include different types of credit?


money_talks wrote:

I have 10 hard inquiries that began on July 1st, 2013. All these inquiries are for a car loan where I was shopping for best rates.

 

Until when will all these inquiries count as one inquiry? I am looking to apply for a credit card today, so would that still be counted as one inquiry during this time period? Or does the credit score differentiate between different types of credit?


Applying for a CC will result in a new inquiry since it wouldn't be coded as related to auto financing.

 

Depending on the FICO model used, all auto inquiries with a 15 - 45 day window are scored as a single inquiry.

March2010 FICO® ~ 695 TU, 653 EQ, 697 EX
Frequent Contributor
money_talks
Posts: 261
Registered: ‎07-02-2013
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Re: Time where hard inquiries count as one? Does this include different types of credit?

Thank you

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Gunnar419
Posts: 1,266
Registered: ‎01-23-2013
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Re: Time where hard inquiries count as one? Does this include different types of credit?

Also be aware that while they are scored as one inquiry, lenders still see 10 (or whatever) number of inquiries, which might lead to a manual review/need for recon/etc. when you apply for other credit.

 


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