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Hard Inquiries/rate shopping question

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Hard Inquiries/rate shopping question

Hello,

 

My credit report shows 7 hard inquiries. 6 of them are real estate.Experian shows that the first 2 will be delelted in August 2020, the second pair will be gone in September 2020, and the third pair will be gone in October 2020. The final hard inquiry is from captial one and will be gone in February 2021.

 

As far as the 6 real estate inquiries go, 5 of them are from the same company. I thought that these were only supposed to count as 1 inquiry if they are in the same category in a certain amount of time, in order to allow consumers to "rate shop".

 

The captial one is from my credit card which I was approved.

 

I've read that inquiries stay on your credit report for 24 months but stop affecting your score after 12, is this true? Also, I was approved for a mortgage and the credit card, does that make inquiries look any better if you are approved vs being denied entirely... or do creditors just look at them all the same regardless?

Exp: 655 EQ: 646 TU: 663 Capital One Quicksilver (recent CLI) and Captial One Platinum (secured + CLI)
Message 1 of 3
2 REPLIES 2
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Re: Hard Inquiries/rate shopping question


@Kurtcobain19456 wrote:

Hello,

 

My credit report shows 7 hard inquiries. 6 of them are real estate.Experian shows that the first 2 will be delelted in August 2020, the second pair will be gone in September 2020, and the third pair will be gone in October 2020. The final hard inquiry is from captial one and will be gone in February 2021.

 

As far as the 6 real estate inquiries go, 5 of them are from the same company. I thought that these were only supposed to count as 1 inquiry if they are in the same category in a certain amount of time, in order to allow consumers to "rate shop".

 

The captial one is from my credit card which I was approved.

 

I've read that inquiries stay on your credit report for 24 months but stop affecting your score after 12, is this true? Also, I was approved for a mortgage and the credit card, does that make inquiries look any better if you are approved vs being denied entirely... or do creditors just look at them all the same regardless?


The inquiries would count as one score wise meaning only one may make you lose points instead of all of them. It does affect you for the first 12 months and less after that. It does not matter if you are approved or denied when it comes to inquiries. 






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Message 2 of 3

Re: Hard Inquiries/rate shopping question


@simplegirl wrote:

@Kurtcobain19456 wrote:

Hello,

 

My credit report shows 7 hard inquiries. 6 of them are real estate.Experian shows that the first 2 will be delelted in August 2020, the second pair will be gone in September 2020, and the third pair will be gone in October 2020. The final hard inquiry is from captial one and will be gone in February 2021.

 

As far as the 6 real estate inquiries go, 5 of them are from the same company. I thought that these were only supposed to count as 1 inquiry if they are in the same category in a certain amount of time, in order to allow consumers to "rate shop".

 

The captial one is from my credit card which I was approved.

 

I've read that inquiries stay on your credit report for 24 months but stop affecting your score after 12, is this true? Also, I was approved for a mortgage and the credit card, does that make inquiries look any better if you are approved vs being denied entirely... or do creditors just look at them all the same regardless?


The inquiries would count as one score wise meaning only one may make you lose points instead of all of them. It does affect you for the first 12 months and less after that. It does not matter if you are approved or denied when it comes to inquiries. 


Thank you

Exp: 655 EQ: 646 TU: 663 Capital One Quicksilver (recent CLI) and Captial One Platinum (secured + CLI)
Message 3 of 3
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