INQUIRIES GALORE

[Anonymous]

When my husband was "shopping" for a vehicle, the sales person ran our credit through 11 creditors, leaving a total of 11 inquiries on his and my credit!!Since we did purchase a vehicle, how can I or should I get them removed? Please help, any suggestions?

[Anonymous]

what was the time frame.  I believe you can shop and within 30 days they count as 1 inq.  anybody????

[Anonymous]

It was all done that same day: dated 9/18/2007

[Red1Blue]

If it is one day, they all should count as one inquiry. You have nothing to worry about.

[ngerasimatos]

It should all count as 1 inq. If it is showing otherwise I would suggest sending a letter asking the CRA's to remove them. They may, or may not remove the inq's though.

[llecs]

Don't worry about them. Actually, the time frame to shop was 14 days and according the the "credit education" tab above, it is now 45 days. The inquiries are listed, but they are counted as 1 in scoring.

BTW, I have 27 on EX for new bank accounts or CCs and they are not harming the score at all.

[Anonymous]

Thanks......you guys are awesome.

[Anonymous]

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@llecs wrote:

Don't worry about them. Actually, the time frame to shop was 14 days and according the the "credit education" tab above, it is now 45 days. The inquiries are listed, but they are counted as 1 in scoring.

BTW, I have 27 on EX for new bank accounts or CCs and they are not harming the score at all.

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Unless FICO just recently changed stuff, they most certainly do not count as "1" for scoring. A friend of mine got his FICO report (from FICO) and it was 640 He went to one place for car shopping and they did 10 or 11 "inquiries" through various places on ONE day. his score dropped to a 560 So unless one inquiry can drop your score by 90 points, I'd say that something's not right. I've also had that happen to me when applying for a mortage. 5 inquiries in 10 days. Each time the inquiry hit scorewatch, my score dropped 7-10 points.

[fused]

The following applies if and only if the lender properly codes the inqs!

FICO scoring has a "de-duplication window" and it looks at your history for the last 12 months, and when it sees two or more hard inqs for the same type of mortgage or auto loan, it will ignore all but one of them as far as scoring is concerned.

If the lender is using an older FICO scoring model, the window is 14 days, if they are using the newest model it can be up to 45 days. Also keep in mind that even though the multiple inqs count as one in FICO scoring, all of the inqs will show-up on your CRA reports for up to 2 years.

[Anonymous]

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FICODRAMA wrote:

When my husband was "shopping" for a vehicle, the sales person ran our credit through 11 creditors, leaving a total of 11 inquiries on his and my credit!!Since we did purchase a vehicle, how can I or should I get them removed? Please help, any suggestions?

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Is that 11 INQs on each of all 3 CRAs for both you and DH?

As others have said, so long as they are coded properly by the lender, then the de-duplication window treats them all as one INQ. Trick is finding out whether the lender did code them properly. You might try calling FICO customer service, assuming you have SW, and seeing whether they can determine if the INQs are coded properly.