3 inquiries on the same day

[Anonymous]

I have access to my Fico score through my Chase App (Chase Credit Journey), and it list 4 inquiries in the last two years. The first was back in Jan 2019 for a personal unsecured cash loan from my credit union. The other three are on the same day. I bought a new car in July of 2019 and after doing some research I found out I got dinged with three inquires on that day (The Ford dealership, Patelco Credit Union and the credit union I financed the car with San Mateo Credit Union).

I thought I wasn't supposed to get hammered with multiple inquiries when buying a car as long as the inquiries are within a close date of each other? In my case all three were on the same day.  My score Fico score according to Chase Credit Journey is 806 so I guess it didn't lower my score significantly. Do I have a legit gripe to Experian? The inquiries don't show on Equifax or Trans Union.

[ridgebackpilot]

You may be able to get those inquiries reduced if you file a dispute with Experian. Generally, the credit bureaus are supposed to count multiple inquiries for auto loans in less than a week as one inquiry. The process is called "de-duplicating" or "de-duping".

I would suggest filing a dispute with Experian for failure to de-duplicate a series of inquiries that were clearly for seeking an auto loan.

[lhcole77]

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@Anonymous wrote:

I have access to my Fico score through my Chase App (Chase Credit Journey), and it list 4 inquiries in the last two years. The first was back in Jan 2019 for a personal unsecured cash loan from my credit union. The other three are on the same day. I bought a new car in July of 2019 and after doing some research I found out I got dinged with three inquires on that day (The Ford dealership, Patelco Credit Union and the credit union I financed the car with San Mateo Credit Union).

I thought I wasn't supposed to get hammered with multiple inquiries when buying a car as long as the inquiries are within a close date of each other? In my case all three were on the same day.  My score Fico score according to Chase Credit Journey is 806 so I guess it didn't lower my score significantly. Do I have a legit gripe to Experian? The inquiries don't show on Equifax or Trans Union.

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The HPs seem legit. Not uncommon for a dealer to pull then have finance company or bank pull as well. Happended to me.

For scoring purposes, they consider all HPs within a certain window as one, but that does not mean the others are removed. It just means they are lumped as one for scoring.

[Azuieldrago]

Odds are, you signed the paperwork for them to pull your credit reports. So the inquiries are most likely legit. No way to dispute them. Also, you are a few months away from getting them removed anyways. As inquiries are removed after 2 yrs and you have already gained any lost points after the first yr. Not worth the effort.

[KLEXH25]

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@Anonymous wrote:

I have access to my Fico score through my Chase App (Chase Credit Journey), and it list 4 inquiries in the last two years. The first was back in Jan 2019 for a personal unsecured cash loan from my credit union. The other three are on the same day. I bought a new car in July of 2019 and after doing some research I found out I got dinged with three inquires on that day (The Ford dealership, Patelco Credit Union and the credit union I financed the car with San Mateo Credit Union).

I thought I wasn't supposed to get hammered with multiple inquiries when buying a car as long as the inquiries are within a close date of each other? In my case all three were on the same day.  My score Fico score according to Chase Credit Journey is 806 so I guess it didn't lower my score significantly. Do I have a legit gripe to Experian? The inquiries don't show on Equifax or Trans Union.

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No, each individual inquiry will still show up. They are only "grouped" together for scoring purposes. Most of my inquiries in my signature are from the dealership running my credit.

Also, my Chase Credit Journey score is Vantage, NOT Fico. Are you sure yours is Fico?

[coldfusion]

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@ridgebackpilot wrote:

You may be able to get those inquiries reduced if you file a dispute with Experian. Generally, the credit bureaus are supposed to count multiple inquiries for auto loans in less than a week as one inquiry. The process is called "de-duplicating" or "de-duping".

I would suggest filing a dispute with Experian for failure to de-duplicate a series of inquiries that were clearly for seeking an auto loan.

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Posts in this thread after yours pointed out that your information is incorrect but for completeness I'll summarize with a comment of my own.

FICO scoring reflects the fact that rate-shopping is common when consumers are looking for an auto loan or a mortgage,  so inquiries made against a CRA for an auto loan within a short period of time are for scoring purposes treated as a single inquiry.  FICO don't want you to be penalized for simply making a reasonable effort to get the best rate for an auto loan (or mortgage).

Every inquiry however is still recorded and subsequent pulls of your credit profile will report every one of them individually. It's up to the issuers who pull these reports to determine for themselves how to interpret the multiple inquiries.

Because these inquiries are legitimate and not fraudulent it is not appropriate to attempt to file a dispute with a CRA.   They won't process such a dispute if there is no claim of fraud and claiming fraud when an inquiry was in fact legitimate will not do wonders with how your lender views you.   

[Anonymous]

Hi yes my mistake, it's vantage 3.0