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 Credit Scores
Profile Image

Question By
GVette

0 Contributions
0 People Helped
Multiple Car Loan Inquiries
I understand that multiple inquiries on the same day should not negatively impact my credit score. Why does Credit Karma still list my number of inquiries as VERY POOR?

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

View your scores and reports anytime.

SIGN UP NOW
All Responses

Result 1-1 of 1Results per page: 5 | 10 | 25Page 1 of 1   Previous | Next
Top Contributor
179 Contributions
334 People Helped
Most Helpful Response

The report is correct if they checked it

Helpful to 1 out of 2 people

If a lender checked your credit it will be listed and CK is just showing you that you have a certain number of inquiries.  However, your score will not ding you for simular inquiries in Auto or Mortgage inquires made with-in a specific time period.  Meanig that while CK is saying you have a certain number of inquiries listed on your report, it's only telling you that the NUMBER of inquiries is generally a bad thing.  But what it's not showing you is that the scoring models isnt counting multiple inquires made with-in 2 weeks of each other as indipendant negative factors.  The VantageScore model (as with most scoring models) allow for people to shop around for mortages and auto loans, so they only give one negative factor for all listed in a 2 week period in your score.

Result 1-1 of 1Results 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.