Credit Advice

Have a question? Have advice to share? The combined knowledge and experience of everyone in the Credit Karma community can help you. Enter your question or help others below to get started!

Question

Posted in Auto Loans
Profile Image

Question By
Rgoodwin90

0 Contributions
0 People Helped
I bought a new car today & gave the dealership permission to run my credit.
I told them that I wanted to go through my credit union for financing so I understand running it through the dealership and my credit union but they ran it through three other credit unions and one of this three they ran it twice. My credit score on here was 31 points higher on here than what they told me it was, also my credit union was the last one they ran it through. Is this illegal and can I get them dropped off my credit report?

Your Credit Scores Should Be Free. And Now They Are.

View your scores and reports anytime.

SIGN UP NOW
All Responses

Results 1-2 of 2Results per page: 5 | 10 | 25Page 1 of 1   Previous | Next
1 Contribution
0 People Helped

Donʻt Think Itʻs Illegal

I just bought a new car yesterday and found that the credit score they ran was actually significantly higher than what shows on Credit Karma. Credit Karma said I had a 664 and the credit score they ran showed a 703. I tend to think that CK doesnʻt offer EXACT credit scores, just ballparks. 

I donʻt think itʻs illegal for them to have run your credit application through several lenders. Itʻs my understanding that theyʻll often send your profile to multiple lenders in order to find ones that will finance you. When I checked my account this morning, I noticed that I had two hard inquiries added to my account as of yesterday, so Iʻm assuming they just sent mine to two lenders. Iʻve heard of some dealerships sending profiles to multiple (i.e., 6-7) lenders before. 

Lastly, I donʻt think that you can have them taken off your credit report, unless you dispute them. In this case, it might be a good idea to check with your dealership to pinpoint the number of lenders they sent your information to, so that you can figure out whether some may have been unauthorized. Hope this is a little helpful.

Top Contributor
5038 Contributions
1136 People Helped

There was nothing illlegal done. You agreed to it. The multiple inquiries will be scored as one with most scoring systems (you will still see all of them listed on your reports though). As far as the different credit scores, there are different scoring models for credit. There are many different types and versions of credit scores. Always look to see what "type" of credit score you are getting. You get Vantage Scores here. Most auto lenders use an auto version of FICO scores. In addition to that, remember that there are three different credit bureaus to pull a score from and there is always some variances there too.

Results 1-2 of 2Results per page: 5 | 10 | 25Page 1 of 1   Previous | Next

Your Credit Scores Should Be Free. And Now They Are.

View your scores and reports anytime.

SIGN UP NOW

Reply to this Question

Write your response:
Enter Your Comments

The Credit Advice pages of the Site may contain messages submitted by users over whom Credit Karma has no control. Credit Karma cannot guarantee the accuracy, integrity or quality of any such messages. Some users may post messages that are misleading, untrue or offensive. You must bear all risk associated with your use of the Credit Advice pages and should not rely on messages in making (or refraining from making) any specific financial or other decisions.