Too many inquires being the reason of not getting credit

OK this is what I just found out. I Asked Rock financial to check inot pre qualification for a home loan. Well I guess teh company they use is Quickenloans via chase credit. They inquired twice! Once on 1/6/06 and the second on 1/11/06 which I did not approve the second inquiry. Well not only is that one there but so is chase (my bank) fort he same exact dates. So I ahve a total of 4 inquiries for this one place. I called chase to get info and they said they couldn't verify anything becasue I was not in their system.

Would I call rock financial back and find out why they did a second inquiry and why there are so many of them on my report? How do I have the other 3 taken off my CR?

kchriste,

You should contact the company that did the inquiry. Your credit report should show the address of the inquirer. Send them a letter stating that you did not authorize this inquiry, so they should remove it from your credit report. Send your letter certified, return receipt requested.

Yea actually I got the guy That I gave permission to run my credit and he said he ran my credit with my fiance's on 1/6 and then becasue eh didn't qualify for anything he ran just mine again on 1/11. I'm guessing he's allowed to do that.

But the inquiry says this Quickenloans via chase. It says that on both of them butt hen when I look further there are two other inquiries for the same exact dates that say CHASE CREDIT, now should chase have done a seperate credit check for the loan company? I mean I would guess they would all be the same. I'll send them a letter but I was just curious! because when I called Chase they had no records of me in their computers.

Yes…send the letter. Mention that your credit report shows CHASE ran an inquiry on --- date. Since you did not permit them, they must remove the inquiry.

If they fail to respond within 30 days, you can ask credit bureaus to remove it as the inquirer failed to entertain your request.

I was told that there is a law that protects the consumer from having only one inquires when shopping for a loan or in the same industry. The law gives the consumer 14-30 days to complete there search.

Ok,
Let's talk about inquiries. The only inquiries that effect your score are coded as hards. A hard is defined as directly relating to a credit transaction that you applied for. Only 10% of your fico is effected by inquiries and they only use hards within the preceding 12 months. The reason some creditors deny for excessive inqs. is that person appears to be trying to take on a lot of debt. If you are mortgage or auto shopping for a good rate,all inqs. during that 14 day period are consoildated as one inq for that transaction. To remove inqs,write to each creditor and ask what was their permissible purpose for pulling report and ask for written proof that you signed agreement for pulling credit. If they did have pp for pulling reports,ask about possibilty of recoding to a soft since creditors do not see these on their pulls. I will leave you with a word of advice.Do not dispute an inquiry attached to a positive tradeline as you may lose that tradeline completely.

Does this change if you visit multiple car dealerships?

According to Fico model at www.myfico.com it should not matter on dealership or bank because you are shopping for the best deal. Just remember that creditor has to code the inq correctly for it to work. If they don't inform them to either correct or remove.

how many credit inquiries allowed per year

yes, collection agency's have what its called the key, well not sure if thats the proper word they use but in any cause they can look into the report without any harm done to the persons credit.

Joel,the amount of inq's is really subjective.Each lender has their own standards.All I can share on this is the better the lender,the stricter the standards.

Littlephoenix, collectors must have permissible purpose to look at your report.If they have an account of yours,they can look at your reports.

I was colocited by Am Gen for a debt consolidation loan and after a series of questions they got down to asking for DOB and SS# and I askeds if they were going to pull my CC and she said yes that was how they could see if they had a loan for me. I told her to hold off, I did not want my credit pulled and I would think it over and call back. 1-2 weeks later I get what amiounts to a rejection notice that my request for credit was declined due to adverse info on file with Trans Union. What gives? Do I have any recourse?

Whoever tries some JAgOIbzaCs1P will never be the same again. Remember it friends.

Whoever tries some JAgOIbzaCs1P will never be the same again. Remember it friends.