Dealership ran way too many inquiries on my credit report?
I recently applied for financing a car through a Ford dealership. My scores across the board was around 720ish
They ran my credit 17 times, while I waited for an hour but unbeknownst to me. They keep sending my information out without me being aware of how many times
What can I do about my credit report? I haven't got my update score through my Experian report but I do see the inquiries.
There isn't anything you can do about it. Credit Reports are one of the most crooked things going but it is the only way of checking anyone's credit, despite that those reports are often bogus with numerous fabricated BS. You can file a complaint with the Dealership and ask them to fix what they caused but, there's nothing in it for them so I doubt they will do anything about it. Sorry I don't have a better answer for you. Mine was lowered by fabricated BS years ago. If you go to get a loan, be sure and tell them what caused the lowering of your report. That's about all you can do.
I would go back and ask to speak to the manager and have them explain why it was run 17 times when once was all that was needed. Take your printout with you. It was inexcusable.
You can also file a complaint about this with your state's Consumer Protection Agency as well as with the Federal Trade Commission.
Stop worrying. The credit bureaus realize when you are car (or house) hunting, there will be multiple "hits" on / for your credit report, but they lump the requests into a "one request" situation. But i don't know why the dealership would churn the waters so much.
It's a side effect of their presenting your application to that many potential lenders. Inquiries will not affect your credit as much as the loan itself.
I hope they found you a good deal; you're usually better off getting a pre-approved loan ahead of time, which has an added benefit of locking in your payment and spending limit… You force the dealer to sell on price rather than hiding behind the monthly payments.
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