Multiple pulls for car loan?

[LA2NYC]

Wife and I just purchased a car using with financing.  In the process, both were hit with 3 pulls on Experian.  Was able to get credit report: I was hit by Bank of America on April 19, 21, and 22.  My wife by Bank of America on April 19 and 22, and by Credco (?) on April 22 as well.  Any way I can remove these pulls?

Thanks!

[Update] Just found this on the Experian website - is this correct?  It says auto loan pulls are viewed as one, though they're all listed out separately on the report.  Do we know if this is true? Thanks!

Dear SLA,

It is very common for an auto dealer to contact multiple lenders in an effort to find the best car loan terms. An inquiry will be added each time a lender checks your report. Experian lists each inquiry to ensure you have a complete record of who has reviewed your credit history.

Credit scoring systems recognize that the inquiries are all for the same purpose and automatically count them as a single inquiry when calculating the credit score. The same is true for mortgage lending.

So, you can shop for the best rates for a car loan or mortgage loan without worrying about the impact of multiple inquiries on your credit scores.

Thanks for asking.

The “Ask Experian” team

[Fan of Dan]

Has been asked before. If the pulls are near each other lenders realize that you were looking for one product not multiple loans. I got 3 pulls 2 years back with NFCU and nothing I did to remove them worked.

[Lou Bob]

You have 30 days from first pull for other car pulls to count as 1

[LA2NYC]

Thanks for the answers.  So even though there are multiple hard pulls on your credit report it only really "counts" as one in regards to effect on future pulls?

[Fan of Dan]

Thanks for the answers.  So even though there are multiple hard pulls on your credit report it only really "counts" as one in regards to effect on future pulls?

Pretty much yes. Don't sweat it.

[CountValentine]

Pretty much yes. Don't sweat it.

That is wrong. It counts as one pull with regards to your credit score.

[Saver2000]

That is wrong. It counts as one pull with regards to your credit score.

Does it affect instant approval?

I understand that it won't drop the score more than 1 pull would, but does it look like multiple pulls on the report and therefore cause applications to not get instantly approved?

[Fan of Dan]

Does it affect instant approval?

I understand that it won't drop the score more than 1 pull would, but does it look like multiple pulls on the report and therefore cause applications to not get instantly approved?

That was my point exactly. It does show as multiple pulls.

[CountValentine]

Does it affect instant approval?

I understand that it won't drop the score more than 1 pull would, but does it look like multiple pulls on the report and therefore cause applications to not get instantly approved?

AFAIK it will count as any other individual pulls when applying for a CC. During recon you can explain that they were all for one auto loan.

[Saver2000]

AFAIK it will count as any other individual pulls when applying for a CC. During recon you can explain that they were all for one auto loan.

Now that's something that most of us here would call "considered 2 pulls".

I get what you're saying, but losing the instant approval option is a big minus.

[CountValentine]

Now that's something that most of us here would call "considered 2 pulls".

I get what you're saying, but losing the instant approval option is a big minus.

Make no mistake that this will hurt your chances big time. I have seen 10-12 pulls for some auto loans.

[Fan of Dan]

That is wrong. It counts as one pull with regards to your credit score.

Make no mistake that this will hurt your chances big time. I have seen 10-12 pulls for some auto loans.

[CountValentine]

@FofD - What is your point?

[Fan of Dan]

@FofD - What is your point?

Was just trying to understand what you meant, your first post seemed to indicate that it won't do anything to your credit but the second post shows that you do think it will do something.

[Red]

Was just trying to understand what you meant, your first post seemed to indicate that it won't do anything to your credit score but the second post shows that you do think it will do something.

FTFY.
It won't affect your score, but your score aint everything.

[CountValentine]

Was just trying to understand what you meant, your first post seemed to indicate that it won't do anything to your credit but the second post shows that you do think it will do something.

Just to be clear. It will count as one pull to calculate your credit score.  When someone pulls your report it will count as multiple pulls when they look at how many pulls you have had.

[LA2NYC]

So in regards to amount of pulls, it does count as 3 (in my case)?  Would I then need to get on the phone w/ recon and explain the circumstances when I apply for cards? Do they see my # of pulls as well?

Thanks!

[CountValentine]

They see the number of pulls from CRA they pull. Three pulls is not a big deal.

[LA2NYC]

They see the number of pulls from CRA they pull. Three pulls is not a big deal.

To get back to this, I know three pulls isn't a lot but want to continue additional applications for the future.  It would be best to combine these three auo loan pulls on Experian into one.

Does anyone have any advice on how to combine these pulls?

Thanks.

[Dave321]

Hi I am looking to finance a car through PenFed loans. Does anyone know how many pulls they will do?

TIA