Holy Inquiries...

[SlimCookie]

So I went to a dealership and bought a car. I asked the salesman how he was going to pull my credit and with how many banks. He informed me that he will pull my credit once and then give my report to the different banks so they won't have to pull......So I verified that he will only pull my credit ONCE. He said yes, only once. WELLLLLLL.....I pull my USAA credit monitoring today and bam...13 inquiries from that day. What in the heckkkk.

 

Any advice on what to do?

[Chris in OK]

Don't stress it. All inquiries received while shopping for a car loan or mortgage (within 14 days IIRC) are counted as one inquiry for FICO purposes.

[MarvBear]

I have never in all my career, worked in a dealership wherein a salesperson was permitted enough access to pull credit. Your salesperson misspoke himself. Dealerships do not share credit information with the lenders to whom they would submit your application. Each lender will pull their bureau of choice.

[hegemony]

you were lied to.

[mk_378]

you were lied to.

+1

 

It couldn't possibly work the way the salesman said. The dealer only wants to get the deal done, so they would have a strong incentive to send phony credit reports to potential lenders, convincing them the customer's credit is better than it really is. Thus the lenders always pull their own copies of the report directly from the CRA.