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Over 100 inquiries on credit report

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Anonymous
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Over 100 inquiries on credit report

I just read over one of my close friends credit report and I'm a little floored by what I saw.

There were at least 50+ inquiries for Trans Union and Equifax each, but for Experian the number was 112 (if I remember correctly).
Briefly looking through them I noticed there were a lot of multiples of the same place, almost all were for auto loans.


After asking my friend why did they try so many times, they told me that they didn't know that certain places would send the application out to a bunch of places and so there would be quite a few from one source (in this case, for example, roadloans did this a few times).

 

While I realize they are all my friends fault, I wanted to see if there is some way to get some taken off as this is somewhat of a factor in her score since she doesn't have a lot of other things on her report. It's not a huge factor but I can only guess it's not something that will be ignored when someone pulls her report.

Is there anything she can do or even try at this point to get even a few removed?

 

Any help is appreciated. I'm trying to help them but I have never seen so many inquiries on a report and I don't want to give them the runaround or bad advice.

 

2 REPLIES 2
Anonymous
Not applicable

Re: Over 100 inquiries on credit report

Even when a hard inquiry is "illegitimate" -- for example if you contact Verizon for pricing info about a cell phone plan and they promise you that they will only do a soft pull -- it's virtually impossible to get a credit bureau to remove the inquiry later.

 

But indeed it sounds like all of these inquiries are legitimate.  Your friend really was shopping for a car, the friend really did give these multiple dealerships his SSN, the dealerships followed typical practice and shotgunned the request to many lenders in an attempt to get the prospective customer the best deal.

 

In theory, if all of these dozens and dozens of auto inquiries were made in the same 14-day window, your friend's FICO score will treat them as if they were only one inquiry.  (If some of the inquiries failed to be coded as Auto, however, that could screw up that "de-duplication" and FICO might see them as separate.)

 

Worst case scenario is that FICO will ignore any inquiry after one year, so I would advise your friend to not worry about it,.  But also use it as a teachable moment, so that if your friend doesn't want this to happen again, he should secure his auto financing separately (e.g. at his local credit union) and explicitly refuse to give his SSN to a dealership and also tell them not to investigate financing.

Message 2 of 3
NRB525
Super Contributor

Re: Over 100 inquiries on credit report

The INQ will fall off of her credit file soon enough, many are likely combined / deduped, so not worth worrying about. 

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