[eagle1]

does any know how do remove inquries from cra.

[roybean]

What kind of inquires? Hard or soft? Someone's been pulling your file on gp? Do you have the hard copies of your reports?

[pandmel]

Originally Posted by eagle1

does any know how do remove inquries from cra.

You can get them off of EFX fairly rapidly by calling them.


Pandmel

[eagle1]

Originally Posted by roybean

What kind of inquires? Hard or soft? Someone's been pulling your file on gp? Do you have the hard copies of your reports?

last years I applied for a car loan, I change my mind on the last min.
I just pull a copy of my cr and noticed that the same car dealer ship sumbitted
17 inquiries without my knowlege to get appoved.

[jlynn]

If they are that old, they shouldn't be affecting your score.

But 17???

[hannah]

Originally Posted by eagle1

last years I applied for a car loan, I change my mind on the last min.
I just pull a copy of my cr and noticed that the same car dealer ship sumbitted
17 inquiries without my knowlege to get appoved.

Did you sign anything with the dealer to allow them to pull your credit? Did you orally permit dealer to pull your credit or to try to get financing for you? If you did, you may be stuck with the inquiries as they would be permissible however, sometimes a call to the CRA will get them off or by filling out an online dispute. Depends on the circumstances.

[spinn]

I have heard that dealers do that to "pay back" a customer who walks away from a deal or somehow pisses them off.

The dealers know 17 inquiries will kill your score....so they do it. That is intentional damge of your credit report, costing you money in fees and interest.

[pandmel]

Originally Posted by spinn

I have heard that dealers do that to "pay back" a customer who walks away from a deal or somehow pisses them off.

The dealers know 17 inquiries will kill your score....so they do it. That is intentional damge of your credit report, costing you money in fees and interest.

Most of the time applications and disclosures are sifted through very fast. I have even been guilty of that on Mortgage Disclosures especially when the applicant has challenges. What happened is commonly referred to as "shotgunning". One button on the fax machine sends an app to 5-10-15-17-22 etc lenders. Generally a contract at a car dealership is one of assignment. The dealer is the holder they sell the paper.

The nice thing about home loans is they will pre qual with the brokers credit report and only pull at lock and/or closing. I can "shotgun" via email.

Pandmel

[spinn]

I am getting cynical...but.....sending it to 15 lenders would crush someones FICO. They should know that and even if it is unintentional the result would be the same.

Arent mortgage inqs different as all within a 30 day period are counted as one?

[pandmel]

Originally Posted by spinn

I am getting cynical...but.....sending it to 15 lenders would crush someones FICO. They should know that and even if it is unintentional the result would be the same.

Arent mortgage inqs different as all within a 30 day period are counted as one?

I am not sure how the scoring and inquiries tie in together. What people fail to understand is that there are different scoring models for different types of transactions. Auto enhanced, to open bank accounts, consumer finance, credit card, etc they all get different scores based on the model they pull.

I have alway been under the assumption that auto purchases was 7 inquires before it affected score. Nothing to base this on other than urban legend.

I have never seen a mortgage turned down for inquires. Even a week middle score (625ish) obviously dragged down for inquires may require a manual review as Desktop Underwriter may not give an instant approval because it is score based.

What a lot of people fail to realize is that mortgage companies and car lenders want to loan you money. Your credit history determines the terms at which they will do it and at what interest rate. But if the only negative on a credit file is 17 inquires in one week in an effort to buy a car they are not gonna hold that against you. Chase or Amex might.

As far as mortgage inquires in a 30 day period if you have an established relationship with a BROKER it only takes one inquiry to get a loan and rate shop. However if you feel the need to apply at retail locations of major lenders then it is one inquiry each. As an example I can pull one tri merge credit report and get loan commitments from Wells Fargo, Country Wide, Taylor Bean and MaMu. Where if you went direct to them that is 4 inquires to get the same result and you would better service than you would receive from a lender retail shop with the same or better pricing. My brother works directly for IndyMac in their construction / owner builder origination and he refers me borrowers that are sub prime for IM in house that I can get better termed end loans for through IndyMac without all the fuss. Drives their inhouse guys nuts.

Pandmel

[roybean]

Originally Posted by jlynn

If they are that old, they shouldn't be affecting your score.

But 17???

17 is just a bit much!

[pandmel]

Originally Posted by roybean

17 is just a bit much!

I have a CR for a borrower that has 5 pages of inquiries two to a line single spaced from auto shopping. If that borrowers credit or the OP's credit was substantially better they could have possibly only had one inquiry from the auto dealership.

Most premium auto lenders have programs that if your credit meets certain criteria the dealership only needs to send a completed contract and a copy of the credit report in for funding of the loan. These types of programs usually require 680 + auto enhanced credit scores.

The best way to buy a car is to arrange your own financing through your personal bank or credit union or have premium credit to avail yourself to less invasive measures by the F&I manager. Then you are 10 ft tall and bulletproof in negotiations if you are preapproved.

Pandmel