Duplicate inquires? How can I stop them!!!!

Anonymous · ‎03-31-2021

Has anyone experienced duplicate inquires? Like multiple from the same company over different days sometimes the same day?

it dropped my score 10 points today and I've had like 5-6 HP just today and haven't applied for anything in days....one of these was the same company and they pulled it twice today. Another has pulled it multiple times over multiple days. Like almost one over the last 5 days!! I'm not sure what to do or how to correct this or get them to stop!

Brian_Earl_Spilner · ‎03-31-2021

It's possible you might have a case of fraud or stolen identity. Freeze your reports and try to follow up on the lenders

Anonymous · ‎03-31-2021

@Brian_Earl_Spilner wrote:
It's possible you might have a case of fraud or stolen identity. Freeze your reports and try to follow up on the lenders

Will that affect my mortgage I'll be getting next month though?

I did apply for a mortgage with a couple of places but it's been days since I did and the HP happened as soon as I applied. So I don't know why the same places are running it again over and over, yesterday and today, the same company checked it today twice! And credco is on there quite a few times, sometimes in the same day as well.

I just don't get why the same company is, they already have the information

RadioRob · ‎03-31-2021

Each time you apply for new credit you’re going to be hit with a hard inquiry. As noted, hard inquires will pull your score down by a few points typically. However, FICO models allow consumers to shop for mortgages within a certain period of time. Typically if the requests are all within a period of time (14-45 days depending on the bureau I believe), it will show the individual inquery, but will be scored as one.

As long as the inquery is coded as a mortgage inquery, the system is smart enough to score the group of inqueries as one even though there might be 5-10. All the inqueries will be listed on the report but will score as one.

RadioRob · ‎03-31-2021

Also... Credco is a generic clearing house for lenders to request pulling your file. So if you're rate shopping, etc... you might have multiple lenders each using Credco to pull your credit. Thats why they might be showing up multiple times.

When I applied for my mortgage, I had dozens of inquiries. This is normal. You are not taking a penalty for each individual inquiry.

Anonymous · ‎03-31-2021

Okay, gotcha!

hopefully that isn't what brought the score down some, I did get an increase that overshadowed it the day before thankfully but I still am not sure why the same place would pull the same report multiple times in one day...days after I applied. 🤦🏼‍♀️ Hopefully it won't hurt me in the long run.

RadioRob · ‎03-31-2021

You'll be fine. As long as it is within the window for that bureau, it will SCORE as one. The part that hurt me actually was AFTER the mortgage.

Obviously while applying for a mortgage, you're not applying for other types of credit or taking on new debt... however once I closed, I wanted to open a couple of accounts to finance a few purchases. Even though I had a score of 780, a couple of applications were denied to # of recent inquiries. LENDERS don't necessarily group mortgage inquiries as one like FICO scoring does. So you might run into some lenders making you wait 6 months before getting new credit.

For me, it was Synchrony that was being overly sensitive to it. Chase and Amex on the other hand had no issues and was instant approved.

barca · ‎03-31-2021

@Anonymous wrote:
Has anyone experienced duplicate inquires? Like multiple from the same company over different days sometimes the same day?
it dropped my score 10 points today and I've had like 5-6 HP just today and haven't applied for anything in days....one of these was the same company and they pulled it twice today. Another has pulled it multiple times over multiple days. Like almost one over the last 5 days!! I'm not sure what to do or how to correct this or get them to stop!

always freeze your credit reports - unless when you are about to app for a product.

with so many frauds these days - I am still surprise people leave their credit report open.

My co-worker had someone fraudulently take two iphones using his SSN and info.

Anonymous · ‎03-31-2021

Awesome! I figured I'd see a score drop once we finalize the mortgage.

I have 3 collections I PFD over the past month so I'm just waiting to see how much those coming off increase my score. It increased over 20 points today with a charge off account being deleted!

im hoping to maybe be able to refinance my car once the mortgage is set. I have a terrible 13% interest rate but my scores have increased about 100 points since then! But the mortgage is more important. I pay more than the payment now on the car loan would just be nice to see less go to interest lol