@TheKid2 wrote:
@Minorincrediting wrote:When you say "you risk having them flagged as being frivolous disputes and closed out" what do you mean? What are they closing out? Are you saying frivolous disputes affects your relationship with these loan providers if you don't already have an account with them?
I'm reading this that the DISPUTES themselves will be closed out as frivilous. Essentially, nothing changes except you have dispute comments on your credit profiles. None of this will impact your relationship with loan providers per se, but it certainly could have implications where future dispute investigations with the CRAs. The boy who cried wolf.
When folks sign the paperwork at an auto dealer, they should read it. You're giving them permission to shop for the best rate. And frankly, any responsible consumer should shop lenders for rates! You're not going to get the best deal every time with "1 pull".
Alternatively, one can come in with financing in hand already if they got a great deal with a CU/bank.
@OmarGB9 wrote:
@TheKid2 wrote:
@Minorincrediting wrote:When you say "you risk having them flagged as being frivolous disputes and closed out" what do you mean? What are they closing out? Are you saying frivolous disputes affects your relationship with these loan providers if you don't already have an account with them?
I'm reading this that the DISPUTES themselves will be closed out as frivilous. Essentially, nothing changes except you have dispute comments on your credit profiles. None of this will impact your relationship with loan providers per se, but it certainly could have implications where future dispute investigations with the CRAs. The boy who cried wolf.
When folks sign the paperwork at an auto dealer, they should read it. You're giving them permission to shop for the best rate. And frankly, any responsible consumer should shop lenders for rates! You're not going to get the best deal every time with "1 pull".
Alternatively, one can come in with financing in hand already if they got a great deal with a CU/bank.
100%!
I've done this in the past and it works. I believe there's this fear by some people about mutliple inquiries for the wrong reasons. I prep my credit for events like buying a car and will definitely compare offers. That's what you save up for. I just never understand when friends tell me they walked into a dealership and pull credit on a whim then are shocked they didn't qualify for the best offer that was advertised.
I'm watching what cards have reported weeks before and know my scores going in! If they pull 4 times so be it.
@TheKid2 wrote:
@OmarGB9 wrote:
@TheKid2 wrote:
@Minorincrediting wrote:When you say "you risk having them flagged as being frivolous disputes and closed out" what do you mean? What are they closing out? Are you saying frivolous disputes affects your relationship with these loan providers if you don't already have an account with them?
I'm reading this that the DISPUTES themselves will be closed out as frivilous. Essentially, nothing changes except you have dispute comments on your credit profiles. None of this will impact your relationship with loan providers per se, but it certainly could have implications where future dispute investigations with the CRAs. The boy who cried wolf.
When folks sign the paperwork at an auto dealer, they should read it. You're giving them permission to shop for the best rate. And frankly, any responsible consumer should shop lenders for rates! You're not going to get the best deal every time with "1 pull".
Alternatively, one can come in with financing in hand already if they got a great deal with a CU/bank.
100%!
I've done this in the past and it works. I believe there's this fear by some people about mutliple inquiries for the wrong reasons. I prep my credit for events like buying a car and will definitely compare offers. That's what you save up for. I just never understand when friends tell me they walked into a dealership and pull credit on a whim then are shocked they didn't qualify for the best offer that was advertised.
I'm watching what cards have reported weeks before and know my scores going in! If they pull 4 times so be it.
Tuck all this advice into another package lived/learned from the forum, here. Next time!
12/22 : 
