According to Fair, Isaac: http://www.fairisaac.com/servlet/SiteDriver/Content/1934/1/FICOchronologyFINAL.doc For those of you with credit reports obtained directly from the national CRAs, what notations identify mortgage loan, and auto loan-related inquiries?
I have always known or heard of this fact, but have never noticed any separate denotation on my reports. As a matter of fact, when I was in the mortgage preapproval stage, I was told to consider lowering my auto loan payment. So I went around to several dealerships (actually a lot but not allowing all to pull credit). One dealer asked me why I had so many recent inquiries and showed me the report. I explained to him what I was told and he said no problem. But it was an initial red flag for him. I also made the stupid decision while looking for a lender to applying to several online sites thinking it would not affect my score. Big Mistake. I probably blew 50-100 points right there Mike G.
They won't hurt you're score if they are pulled as an Auto or Mortgage Loan, but most of them are just pulled for a permissable purpose. If they actually pull it as an auto loan, it will say so on the credit report where it gives the reason for the inquiry.
On my reports there is NO NOTATION differentiating these inquiries. It looks like I was shopping for the best credit card deals.
Nothing that I can see differentiates it from any other inquiry. I did have an insurance inquiry that was designated as "insurance purposes."
