How can you rebuild credit when I keep getting denied

[CSX1466]

3 months ago I recently paid off all my collections accounts (6) to be exact. I also had deletion request submitted to have them off my credit. I recently went to a dealership to trade my truck in and they ended up running my score 13 times trying to gets a deal. I never made a deal but my credit took a hit dropping 44 points in a week. I recently got a secured visa from capital one and have been using that responsibly. What else can I do. Can I submit a letter to the inquiries to delete there inquiries. Please help

[ForumPheen]

You could submit a letter to remove some, but there is no guarantee it will work.  I have done so before and it may help or actually hurt you, depending on who you ask.

The decision is truly yours. Go for it if you want, but know that there could be consequences.  I faced none, but I've read on here some people who did.

[Brax]

You need to wait a minimum of at least 6 months after paying a collections before the damage from paying it subsides somewhat.

I would also not attempt an installment loan (car loan) until you have 1-2 unsecured cards with a solid history reporting. Further, the recent attempt on possibly 13 inquiries means you now should wait at least 6 months but ideally 1 year before trying any sort of credit application with that paticular CRA those inquiries are on. I suppose you could check all 3 CRAs and see what CRA you got the truckload (pardon the pun) of inquries on!

[Shokk]

If you haven't already done so, pull your free credit report from annualcreditreport.com.  Its free once a year.  Then you can go through it and make sure everything is reporting correctly as well.  Paying off bad debt doesn't make it go away.  It will just show paid.  If there were collections, start sending GW letters to see if you can get them removed.

[DaBears]

Fico will only score the 13 inq's as 1 inq since it was done within a 2 week period. Unfortuntely the inq's can't be removed. They will remain for 2 yrs but only affect your score for 1 yr. I would get another secured card and let both of them age for 12 months. Keep one at a $0 bal and the the other one between 1-9% util. 

Community Leader, 

DaBears

[mtrsprt]

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@DaBears wrote:

Fico will only score the 13 inq's as 1 inq since it was done within a 2 week period.

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If only this were true.  A 44 point drop after his auto credit applications, is a sure sign that the scoring adjustment was not factored as one inquiry for all.  I myself, and other collegues of mine also witnessed tremendous score drops during auto credit inquires ranging from 4-9 creditors in the one day period while auto shopping....  

[Anonymous]

FICO does only score them as 1 if they are all done between 14 and 45 days depending on the model/version used.

If you got that big of a score drop something else is going on.