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Anyone seen it happen?
I was just looking over my inquires. now all of them will be over the year hump august 30th. ON my reports by then will be.
1 will fall off tu in march, so ill have tu-5 eq-6 and ex-7(all over a year) (my bank tripled pulled me for a overdraft line that I got declined for) (amex triple pulled) (and auto loan triple pulled twice) all in the same day so 4 inqs on each report all on 8-30-12 lol.
Lets just say that that number will stay like that until feb 2/2014 since that's when they will start dropping off.
Now I know it doesn't effect fico score but has anyone been declined for having to many inquires in the past 2 years? I mean if a bank really wanted too be stingy.
I know I wont be apping sporadically or even anymore sprees, but 2 years seems such a long time right now. (when I legit plan on apping for my next amex-that will backdate to 1-12) hopefully.
Also i have excel formulas that show if i dont open any new accounts my aaoa will be 2 years 9 months, my oldest card being 4 years 2 months.
and adding the 3 year backdated amex will bring my aaoa to 2 years 10 months.
im just overthinking on a thursday is all.
Current: Fico ScoresEQ~706 TU~719 EX 709 4/28/23 Inquiries (24 Months): EQ 0 TU 0 EX 0| Most Recent: A LONG WHILE | Buy A Home Earn Cash Back | Amex Zync(Unicorn) Chase Freedom$1500 Discover IT$7,400 Citi DC $10,000 Citizens Mastercard$7,000 |
Yeah, both Chase and AMEX. Recon and got approved once I pointed out that I am sure I am not the only one with many inquires. Good scores, never late, pay in full almost always bla bla bla. I think it's a simple reason for decline that should always be answered with a recon attempt.
CLI denial from Walmart says "Too many inquiries last 12 months". Doesn't say 2 years so 12 months is the limit.
im happy with my current cards.
except for a cli on my freedom, another amex. my lease is up aug '15 so i have to keep tthat in mind.
i havent decided whether to refinance this car or finance a new car with a giant down payment.
if i kept mine i would only have to finance about 5k which almost seems trivial, compared to the value, unless i keep the money im saving...
Current: Fico ScoresEQ~706 TU~719 EX 709 4/28/23 Inquiries (24 Months): EQ 0 TU 0 EX 0| Most Recent: A LONG WHILE | Buy A Home Earn Cash Back | Amex Zync(Unicorn) Chase Freedom$1500 Discover IT$7,400 Citi DC $10,000 Citizens Mastercard$7,000 |
I was denied by AMEX for a 2nd card, but that was one of a few reasons. My account was new (2 months old) at the time. I had other new cards, my loans were reporting as double what was really owed (since fixed), plus two 5+ year old baddies.
Never heard of past 2 years; most say past 12 months. Sounds like they are just pulling things out of their hat
nope 2 yrs is way to long to impact the approval.Is just an excuse.PLease recon.
@astritaho1979 wrote:nope 2 yrs is way to long to impact the approval.Is just an excuse.PLease recon.
Lender underwriting can deny for whatever reason they deem appropriate, and lender underwriting is ultraconservative in today's instant gratification culture.
While I tend to agree it shouldn't be a large factor, we've had anecdotal reports of people receiving the denial reason of "too many inquiries" with a single inquiry on the report, and it's being aged more than a year at that. Granted, it wasn't in the top 2 and anything outside of that in my opinion might as well be determined by the ubiquitous lender Oujia board but occasionally it can factor.