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Inquiries down to 1
SO I purchased a car recently, and I did a few hard credit checks at different locations. One salesman told me that if I do make a purchase on these inquiries, that the total hard hits will go down to 1 once a purchase has been made? Is this true or did he have me going?
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Haakon
1 year ago
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Yes, there is some truth to that. Many inquiries in a short period time (shopping for a mortgage for example), count as one. (two weeks time span). Why aren't paying cash for a car and stay out of debt?
KeesdeWit 1 year ago
How do I report the hard inquiries as one? They are just stacked on my credit. The loan was mainly used to get some history to build credit to get a mortgage in the future sometime.
Haakon 1 year ago
the mutiple inquiries will stay there nothing around that but the ding your score will take will hurt it as if you only applied once and other lenders will see those inquries on your report in such a short period of time and know that you were car shopping and searching the best rate instead of assuming the worst when applying for new credit as if you were credit hungry and trying to overextend yourself
tsquad131 1 year ago