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davideinmd

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I have 13 inquiries w/Equifax in a 3 days car shopping. Will they combine them into one?

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The inquiries from "rate shopping" might be seen as one in the eyes of the credit scores, but each inquiry will be listed on your report individually and remain that way regardless of you approved or not.

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Yes, typically within 30-60 days of you taking one of the loans there should remove the other enquiries.  This law was done to allow shopping for loans for car and home without penalty. If you did not take one of the loans I am not sure.

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The inquiries will remain on your credit report, irrespective if you take the loan or not.   From prior reading, the score probably took a hit for each one.   Yes, some creditors will consolidate those made in a two week period whereas other creditors will not.  Its their formula.   If they count as a single score or not, I can confirm this on 10/1 which is when mine will drop off.   I'll know for certain at that time if it was charged for each one.

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Nomadre

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I was incorrect in lettting him think that they come off.  You are correct that they do not come off. This way a person has a record of each company that looked into his/her credit.  But you are incorrect in the time line it is 14-45 days depending on the model used, and then only of those inquiries in that time limit is used in the calculations

"Looking for a mortgage, auto or student loan may cause multiple lenders to request your credit report, even though you are only looking for one loan. To compensate for this, FICO Scores ignore mortgage, auto, and student loan inquiries made in the 30 days prior to scoring. So, if you find a loan within 30 days, the inquiries won't affect your scores while you're rate shopping. In addition, FICO Scores look on your credit report for mortgage, auto, and student loan inquiries older than 30 days. If your FICO Scores find some, your scores will consider inquiries that fall in a typical shopping period as just one inquiry. For FICO Scores calculated from older versions of the scoring formula, this shopping period is any 14 day span. For FICO Scores calculated from the newest versions of the scoring formula, this shopping period is any 45 day span. Each lender chooses which version of the FICO scoring formula it wants the credit reporting agency to use to calculate your FICO Scores."

What I do find very interesting is that I did just shop for a home ReFi with two companies in May and June.  And one of the inquiries from the one I did take has come off my report as seen here in CK. So that is why I said they do, and not sure why the one is no longer showing here.

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