a few questions for the pros

Discussion in 'Credit Talk' started by Christi, Mar 25, 2001.

  1. Christi

    Christi Well-Known Member

    1. I have recent late pays from 2 Capital One Cards and Aria, in fact when I tried to call and make some arrangements they say it's already turned over to a CA. So, I was going to have my mother add me as AU to her accounts, is this a mistake? She has 2 Capital One's, Providian and Spiegel.

    2. What length of time in applying for a car loan, should the inquiries count as one? In other words, I have 23 inquiries over a 3 wk span for automobile financing. Should these all count as one, or does it have to be in a week or a few days time?


  2. Christi

    Christi Well-Known Member

    Re: a few questions for the pr

    Thanks, I'll do that, I didn't tell him to go thru every Tom, Dick and Harry in the US that finances. The sad thing is that it came down to GMAC at 4.9%, so why did he start with all those others?? Who knows? Yes, I would love to kick his ass. How should I word the letter? Any ideas!!

  3. roni

    roni Well-Known Member

    Re: a few questions for the pr

    Christi, no offense but that;s not fair. I pay 13.9% for my car loan thru household. I need to do something about this.

  4. Christi

    Christi Well-Known Member


    I completely agree!!! However, when I got the car, I didn't have these recent lates with the credit cards. My score was probably higher, but nothing like yours!! Also, I had my car before that one financed thru Nuvell (whom GMAC owns) so that might have helped, but yes I would do something about it. You should be able to get much better. At first they told me 5.9, but when we signed the papers it was 4.9%

  5. Saar

    Saar Banned

    Re: a few questions for the pr

    They should only count as 2 INQs. All inquiries coded as a car loan are counted as one if done within the same 2 weeks. So all the those done during the first 2 weeks (if coded correctly for that purpose) count as one. All the rest done within the next 2 weeks also count as one.

    For a thorough explanation of INQs, check the FICO presentation published on FTC web site. You can learn from the numbers shown there, much less from the statements - they're designed to promote CRA interests.


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