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Posted in Auto Loans
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Question By
dwhitern55

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what lowered my score over the last 6 months?
I was told because I had been shopping for a car in the last 9 months and I had allowed dealerships to run my credit and still havent bought or traded vehicles it has lowered my score almost 100 pts! please help me!!

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Any time you shop for a big-ticket item like car or house, do all your credit shopping within the same 30 day period.  That way only the first inquiry counts against you, the rest are freebies.  Not much you can do now except stop shopping for credit for a while or work on increasing your scores in other ways, such as smart use of your existing credit.  Best of luck!

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Never give you personal info (SSN) to a dealer unless you are ready to buy (and even then, i don't recommend it). Many dealers will send your application to 4 or 5 banks if the 1st one denies you credit and each bank will do a hard inquiry. The amount of inquiries will lower your credit score.  

If you are going to buy a car, i stronlgy suggest you try to get preapproved by your bank or if you don't think your back will give you credit, open an account at a credit union and apply there.

The good news is all of the hard inquiires will fall off your report after 2 years. 

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