Chase and inquires

[Anonymous]

Hello all,

I've been browsing for info before apping for the sw chase card, I came across another set of boards that discuss credit. I'm not going to name the credit boards by name but they discuss some interesting techniques for clearing hard inq's waaay early, and a few other things. Is there a particular reason these things aren't discussed over here? Have i just been missing out on the same convo over here due to different language? Reason why I ask is I have 5 hards on my tu, I'm afraid that maybe too many if I'm already boarder line. Should I wait a few weeks and get them all removed or go for it?

I apologize if I broke some rules on this post and that type of discussion is "frowned upon in this establishment" or if my phones autocorrect feature made parts of my post confusing.

[visorboy1974]

It's a very costly (and unethical in some views) way to clean up your inquiries and you benefit little from doing it.  

[Anonymous]

When it comes to banks and the 3 cb's, ethics are my last concern and $25 a month for three months doesn't seem too bad,especially if it gets me over the hump. Considering what we as consumers are up against, it's nice to know they can be beat at their own game. Any bank would cut me in a second if it meant profit.

How inq sensitive is chase?

[Shogun]

It's called bumpage.  There's no reason to hide the term.  Is it wrong?  Yes.  Does it have the potential to cause problems with your CR?  Yes.  Does it cause split files that take forever to get fixed?  Yes.  Does it cause the deletion of positive TLs to be knocked of your CR instead?  Yes.   So there's your answer.  

[bettercreditguy1]

Inquiries account for about 5% of your FICO score, a very small amount indeed. After one year, they virtualy have no impact. However, what inquiries do show a potential lender is if you are perhaps trying to over extend yourself or do something else, live beyond your means, (like borrow to much to go gambling, etc). It does and can factor into their risk should they engage to do business with you wich will effect terms and rates.  Not unethical at all. Seems like you may have some issues or items in your report that you do not desire to be honest about. Slow pay?, Over limits?, BK,? Over extended? Spending problem?.

[Happychap]

Do not do this! It completely caused havoc on my CR. It has since been fixed, but caused alot of stress; and now all my INQ show and go well over the 85 fixed limit on EQ.  Be warned! youy may not be one of the lucky ones.

[Anonymous]

Of course I have some "issues"!!! I just said I did, their called inquires. No reading in between the lines required.

I'm really not interested in discussing the ethics of the method, as like I previously stated, I believe a bank can/ has/ always will, find a way to screw me (me as is the everyday joe) if it meant profit. The method doesn't appear to be illegal and only requires us to do what I'm sure most of us credit enthusiast do daily anyways.

As far as the split file is concerned, I was only looking at bumping off tu jnq's. beforing appjng for the card. as far as the rest issues that shogun mentioned, like losing the positive closed trade lines, thanks, those are something to be considered and will research.

I just wish I would have known about all my options much earlier in the game so i could make my own decisions, based on what's best for me.

[navigatethis12]

Five is not really a lot. It is probably more than normal people usually have, but it will not cause an issue.

I don't see bumping inquiries any different then American Express backdating. People getting added as an authorised user and getting ther date opened changed to twenty years ago, or before they were even born are things greatly discussed. As well as opening new American Express cards just to have more age on the reports. Both are manipulating scores and reports, but the backdating thing is praised, while bumping is looked down upon.

[Revelate]

I'm struggling to see the link there: backdating is a benefit offered by a lender for ages which has gone through various tweaks to curb excesses anyway; whereas bumpage is exploiting a flaw in the CRA's application infrastructure and no different than other forms of hacking.

It certainly is not intended by either the CRA's or FICO and if the report data is not accurate the whole system may become untenable.

No I utterly disagree on this one, AU's or backdating are one thing, this is something else entirely.

[beb86]

Good point but, as shogun said, bumpage can really do some damage since there is only so much space for data on your CR not to mention the cost of all the daily monitoring to repeatedly sp your reports and the CRAs getting wise to this. I personally don't see the benefits of this practice