Hard inquiries

Forum|Forum|5 years ago
April 10, 2020
1 reply
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Hard inquiries affect your credit score. You state that hard inquiries made within14 days for the same type of credit will be grouped into 1 inquiry. On the one day I had applied for a car loan through a dealership, again on a different day my daughters student loan, and again for a home loan. 3 different days 3 different loans within the same year. ALL of these inquiries show up on my credit report. 3 for each of them. Is there anyway for me to make each set of 3 into only one? As I stated, they're for the same type of loan on the same day but come up as 9 hard inquiries on my report. Can this be changed? I need to find the best rate every year for my daughter's student loans that I am a co-signer on and don't want to get hit this hard every year as my credit score is plumetting because of it and my interest rates on her student loans are higher because of my plummeting credit score! What can I do?

Opus 17

I believe that the inquiries are still all listed, because they all happened. But they are grouped together for purposes of calculating your score.

Now, if the inquiries are categorized incorrectly, you could write to the credit bureau and ask them to update it. For example, if one of the car loan inquiries is listed as a general unsecured loan, then it might not be grouped together with the others, and that might be something you could fix by writing a letter to have it re-categorized.