I just pulled my credit after purchasing a new car in March and found out that the first dealer I went to made 19 inquiries between the 3 credit companies the day I went in there and then another 7 times the next day. 12 of the 19 that first day went through TU.
I told them to start with that I wasn't buying that day and I was already guaranteed 7.4% and just wanted to see what price they would offer on the car I was looking at and what they could offer. I left that day because they couldn't match my rate and weren't budging on the price of the car.
I only went to 2 dealers and did business with the other the same day they pulled my credit.
I'm not sure how much this many inquiries will affect my credit but I know comparing the report I pulled in Jan, the difference on the TU is 127pts and the Equifax is about 80.
I filled a complaint with the BBB, but need to know what other recourse I have.
If they were all pulled within 14 days they will only count as 1 inquiry, but all inquiries will show on your report....It is an internal thing FICO does were as long as the inquiries were all coded correctly as looking for credit for a vehicle it will only impact your score as 1 inquiry.
As far as any recourse....there isn't any as long as you signed a form authorizing the credit check they can do so as many times as they want ......
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