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Valued Contributor
SnackTrader
Posts: 1,563
Registered: ‎09-15-2012

Re: APP SPREE YIPEE!!

This is one of the bigger sprees I have seen on the forums lately. That should tell you something - you now have WAY more INQs than a normal person. Assuming the average forum member has more INQs than the average American, and that you have more INQs than the average forum member, your level of INQs is probably way above the risk tolerance for most banks. 6 months in the garden is the MINIMUM amount for you, and I would recommend at least a year so that the impact from these INQs is eliminated from your score.

Congrats on the cards you got, though!

In My Wallet: Amex BCP (12/12) $22.200, Chase CSP (4/14) $12,000, Barclaycard Arrival (5/13) $10,500, Citi Forward (12/12) $9,600, Cap1 Cash Rewards (6/12) $9,000, Chase Freedom (12/12) $5,000

Last App: April 2, 2014
Moderator
Revelate
Posts: 8,318
Registered: ‎12-30-2011

Re: APP SPREE YIPEE!!

[ Edited ]

SnackTrader wrote:
This is one of the bigger sprees I have seen on the forums lately. That should tell you something - you now have WAY more INQs than a normal person. Assuming the average forum member has more INQs than the average American, and that you have more INQs than the average forum member, your level of INQs is probably way above the risk tolerance for most banks. 6 months in the garden is the MINIMUM amount for you, and I would recommend at least a year so that the impact from these INQs is eliminated from your score.

Congrats on the cards you got, though!

Depends on what CRA's the inquiries landed on.  It's a certainty there's some scattering as there are explicit EQ and TU pullers there, and if any landed on EX at all, it's likely a wash.

 

If there is any issue, it will likely be on the sheer number of tradelines popping up at once rather than inquiries, but the current approved account list isn't likely to take exception.

 

I agree though with the gardening suggestion: pretty much all of the "higher quality" lenders denied the application, and this particular result isn't going to make them view the OP more favorably in the near future.  Looking at my own sprees (well mini-sprees by my definition), I agree a year may be more appropriate with the possible exception of an Amex application again in December for future backdating goodness.

 

Likewise, congrats OP!  Especially on the DCU auto refinance, slashed my own auto APR by a little better than 2/3 with DCU, highly recommend them for mixed-file refinances (some positive, some negative information on one's CR).

Starting Score: EQ 561, TU 567, EX 599* (12/30/11, EX lender pull 12/29/11)
Current Score: EQ 04 679, EQ 8 708, TU 711, EX 702* (07/14/14, EX older)
Goal Score: 700 on EQ '04 (01/01/15)


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Valued Member
princesstooth
Posts: 40
Registered: ‎03-15-2013

Re: APP SPREE YIPEE!!

[ Edited ]

No I definately dont plan on apping for at least a year. I'm happy with what I got and am going to sit on everything for awhile. I got 5 inq's each on EQ and TU. EX was 6 all from this app spree.

Dec 2012 - EQ FICO 596, TU FICO 634, EX ?
April 2013- EQ FICO 643, TU FICO 645, EX FAKO 666
Valued Contributor
djc1puno
Posts: 1,715
Registered: ‎03-07-2013

Re: APP SPREE YIPEE!!

Congrats on ur spree! I'm just buying some time before I do the same. Heh


GARDEN GOAL: MARCH 2014
LAST APP: 08/20/2013
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