On 12-28-11 my fico score was 718, 727, & 732. 1) Is this true? I'm looking to buy a condo and I was told by the lender that I could have multiple hard inquiries within a 90 day period without hurting my credit score. 2) What is the best way to find out who made the recent 4 hard inquiries, if I already did my free annualcreditreport.com? I had 2 lenders apply for credit and I just changed auto insurance companies. thanks
1) I've heard on both sides of this one, some say that multiple hard inquiries for some purposes - insurance, mortgage, car loans; specifically - count as 1 within a 30-day period. The logic that they provide is that these are transaction types where consumers tend to shop around, so it is conceivable that someone shopping for insurance, a house, or a car may go to 3-4 companies to try to find the best deal. Other types of inquiries may not be as forgiving. 2) If you were denied credit, or the insurance rate was higher than optimal because of your credit report, you can receive a free copy of your credit report by requesting the CRA that was listed on the denial/adverse action letter. The only other option would be to purchase a credit report, either from the CRAs or from a 3-1 report provider.
I was approved for 6 months back in December 2011, but I think the 4 hard inquiries recently, may have dropped my rating. Can you recommend the cheapest way to find out about the hard hits?
Welcome to Creditnet! 1.) Not true. The newest FICO scoring model uses a 45-day window, so if you're shopping for a mortgage within that window all the hard inquiries will be counted as one. That "one" hard inquiry will still have a negative effect on your FICO scores. 2.) Did you already pull all 3 of your free credit reports via annualcreditreport.com?
If you want to get more free credit reports, you can always try one of the services out there that offer a free trial - just make sure you cancel before the trial is up! That's the best option if you've already used up all of your free credit reports via annualcreditreport.com.
