Inquiry effect on score - what industry is pulling?

[Anonymous]

My question here is with regards to the effect on scoring of inquiries.   We all know, or have been told, that inquiries made for mtg and auto loan purposes that occur within a 14 day period are considered 1 single inquiry for FICO scoring.

How does FICO differentiate mtg/auto and other permissible purposes, like cc apps, collections, etc.?   We certainly don't see the nature of each hard inq on the credit reports we pull.  

It would be nice if they added that on the reports.  I remember seeing it on an older TU report I have, where it said "PP = collection", but not anymore.

[haulingthescoreup]

My understanding is that there are codes added to each account, and those codes classify whether the inq was for CC, auto, mortgage and so forth. Consumer finance loans have a code that classifies them as such, so that you can be penalized. * sigh *

Unfortunately, the codes don't display on the reports that we peons can see, so you have to hope that it was coded correctly.

Anyone with more precise knowledge please chime in.

[MidnightVoice]

From my CreditSecure CR

It is more or less coded in some way

YYYYY TOYOTA

Automobile Dealers, New 12/26/2007XXX Auto Financing 12/26/2007XXXX Bank Credit Cards 12/10/2007XXX National Credit Card Cos. 11/20/2007XXX Mortgage Companies 12/15/2006

[Anonymous]

Is Credit Secure a monitoring site?  Can you provide the website?

[Anonymous]

credit secure is an ex product sold to amex card holders, unless you have an amex account you can't log in to access it. sorry.

[Anonymous]

What does it cost per month?

[MidnightVoice]

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@Anonymous wrote:

What does it cost per month?

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$12.00

[RobertEG]

The codes used for inquiries do not show  on your myFICO report, but they do show on the free annual report you get from annuacreditreport.com.  If  you havent ordered that report within the ast 12 months, order it up.  It is much more comrehensive that the vanila reports offered by venders such as myFICO and CITI Identity Monitor.  Annualcreditreport.com will tell you ALL inquiries, including soft pulls, the code for each, and a definition of each.