Question about inquiry

[Anonymous]

I just was approved for an auto loan.  I know that any inquiries made during a fourteen day span are considered one inquiry when buying a vehicle.  My question is if I were to apply for a new credit card during these fourteen days would it be considered an additional inquiry or grouped in with the auto loan inquiries.  Thanks in advance dP

[Junejer]

Moving thread to GCI.

[Junejer]

Hi deadpools, it would be an additional INQ. Only mortgage and auto loan INQs get deduplicated and they have to be coded properly in order for the deduplication to "take".

[mt2va]

I'm confused about how this is supposed to work.  I recently purchased a car in December & had about 6 or 7 inquiries run on my credit (I didn't actually authorize the auto dealer to do all of these but that is a different question) & I had maybe 1 other inquiry a year before that.  Yet when I pulled my 3 CR this year it clearly lists these in the "total" number of inquiries I've had and I have since requested credit a couple places that turned me down for too many inquiries so what happened to them all being okay since it was for my auto loan??

[Anonymous]

First, no, the credit card apps would all count as additional inquiries.

Second, remember that there are two factors to inquiries. 1) the FICO factor and 2) the LO review factor.

FICO may forgive duplicates, but the LO might not be as forgiving.  For example, if you obtained an auto loan but received 6-7 inquiries in the process, regardless of FICO impact this may appear to the LO that you had difficulty in getting a loan approval requiring a lot of shopping and applications.

Finally about coding:  I agree that there must be some way for the inquiry to be coded in order for it to be de-duped, because when I did an auto loan myFICO.com continued to tell me that each inquiry (3 auto inquiries for 1 loan) counted against me.  So I am not sure how this works.  How can you test it?  I guess we need somebody to app, run MyFico, app the next day, run MyFico, app the next day, run MyFico and do this a few times and tell us the results......any volunteers

[Junejer]

TheINQs will all show and be counted as an INQ, but the score will only count one.

After the end of the appropriate period of time 14 or 30 days (depending on the version of FICO in use), then the INQs are deduplicated.

And yes, as txjohn stated, banks may turn you down as they look at the actual report. When I used to go car shopping, I would tell them that they had better only send it to one lender.