In Credit, Q & A Friday

Q & A Friday - Credit Questions (2)

 

Happy Friday! It’s Q & A Time!!! Don’t forget to join us LIVE at 12:30p for our Periscope Q & A Session 😀 –> www.periscope.tv/frglcreditnista

Q: HELP! I have over 30 inquiries from shopping around for a car, it looks horrible on my credit, how can I get them removed?

A: Hi, fortunately inquiries from car shopping look worse than they really are .
When you shop for a car, home, or student loan, as long as they are done within a 30-day timeframe they are scored as one inquiry.

All of the companies are listed in the inquiry section because they really did gain access to your credit data for the purpose of giving you a loan.
I would make sure that each company that ran your credit for a car loan is listed as an auto/car financing company. I’ve seen some list the reason for running reports as revolving (credit card), personal loan, etc. and when we call the credit bureaus, they tell us since it wasn’t coded as a ‘car/auto’ inquiry it’s scored separately.

This is why it’s important to check your credit reports on a regular basis.

Hope this helps!

If you need assistance developing a personalized strategy to Soar Your Credit Scores, visit: bit.ly/soarmyscores

Oct. 9, 2016 – Credit Classes Start!

 

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