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  1. #21
    requiredfield
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    I thought 'loan shopping' was supposed to combine all pulls in 7days into one (per bureau). Or is this for mortgages only?
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    Reply With Quote Reply With Quote     Oct 12, 11, 12:53 am
  2. #22
    zapper_89
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    Quote Originally Posted by requiredfield View Post
    I thought 'loan shopping' was supposed to combine all pulls in 7days into one (per bureau). Or is this for mortgages only?
    I know that is a fact for mortgages. Is it 7 or 30 days? I don't think it works that way for auto or revolving credit.
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    Reply With Quote Reply With Quote     Oct 12, 11, 6:03 pm
  3. #23
    Pete838
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    Quote Originally Posted by zapper_89 View Post
    I know that is a fact for mortgages. Is it 7 or 30 days? I don't think it works that way for auto or revolving credit.
    Every lender that pulls your credit has access to the raw data, and can score it however they decide to score it. If they are using the FICO model FICO disregards any auto loan inquiries made during the 30 days before scoring, and mortgage inquiries 14 days before scoring. The lender can choose, though, to score it however they wish and extend credit (or not extend credit) based on their own determination.
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    Reply With Quote Reply With Quote     Oct 13, 11, 6:58 am
  4. #24
    zapper_89
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    Quote Originally Posted by Pete838 View Post
    Every lender that pulls your credit has access to the raw data, and can score it however they decide to score it. If they are using the FICO model FICO disregards any auto loan inquiries made during the 30 days before scoring, and mortgage inquiries 14 days before scoring. The lender can choose, though, to score it however they wish and extend credit (or not extend credit) based on their own determination.
    Obviously they all appear on the report; federal law dictates every inquiry is shown on your report.

    The question relates to how the FICO model calculates your score. If it bundles multiple inquires over 14/30 days, six months into the future.
    Last edited by zapper_89; Oct 13, 11 at 9:03 pm. Reason: I should read better
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    Reply With Quote Reply With Quote     Oct 13, 11, 8:59 pm
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