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Valued Contributor
indiolatino61
Posts: 1,439
Registered: ‎11-10-2012

High Inquiries with Zero Balances

Hello all...in your opinions, does the fact that your CR shows zero balances help to negate the negative effects of high inquiries? I'm waiting until January, 2014 to app for BCE and CSP because I have high inquires (10 per CR), but my utilization has been under 3% for the past year. So, would I be flat out denied because of inq even though my debt is ultra-low? Thanks for your input.

 photo Logo-CreditCardCollection_zps46f2f9f7.jpgWmart (TU): 809, Disc it (TU): 809, CKarma (TU): 772, AmEx (EX): 755, CSesame (EX): 727, Quizz (EQ): 783, myFICO (EQ): 770.
Oldest: AmEx: 26Y-5M, AAoA: 7Y-6M, Utl: 2.73%, 12/24 Inq: 6/16, Income: $104k, Garden: 06/16/2014. Updated 07/23/2014.
Super Contributor
enharu
Posts: 6,889
Registered: ‎02-27-2013

Re: High Inquiries with Zero Balances

I was denied for BCP with the 1st reason being the number of recent inquiries (5 in the past year) was too high. I had $2 balance reporting across all my cards (CL of about 13200 then). YMMV. Another big reason why I think I got denied was because of a new auto loan account that just got reported.

JPMorgan Palladium (100k), AmEx Platinum (NPSL), AmEx SPG (46k), AmEx BCP (42k), Chase Sapphire Preferred (47k), Citi Prestige (31k), Citi Thank You Preferred (27k), Citi Executive AAdvantage (25k), JPMorgan Ritz-Carlton (21k), Merrill+ (15k), US Bank Cash+ (22.5k), Wells Fargo (12k), Bloomingdale’s (12.4k), Chase Freedom (5k), Discover IT (5k).
Valued Contributor
indiolatino61
Posts: 1,439
Registered: ‎11-10-2012

Re: High Inquiries with Zero Balances


enharu wrote:

I was denied for BCP with the 1st reason being the number of recent inquiries (5 in the past year) was too high. I had $2 balance reporting across all my cards (CL of about 13200 then). YMMV. Another big reason why I think I got denied was because of a new auto loan account that just got reported.


Thank you for your quick reply, enharu! Yes, this is what I figured; which is why I will wait until January when all my inq will be older than 12 months, and some will fall of completely. Thanks again.

 photo Logo-CreditCardCollection_zps46f2f9f7.jpgWmart (TU): 809, Disc it (TU): 809, CKarma (TU): 772, AmEx (EX): 755, CSesame (EX): 727, Quizz (EQ): 783, myFICO (EQ): 770.
Oldest: AmEx: 26Y-5M, AAoA: 7Y-6M, Utl: 2.73%, 12/24 Inq: 6/16, Income: $104k, Garden: 06/16/2014. Updated 07/23/2014.
Super Contributor
enharu
Posts: 6,889
Registered: ‎02-27-2013

Re: High Inquiries with Zero Balances

you already have an AMEX though so if you're denied it's just a SP. you can try again when your inquiries reach 6 months old. You've got nothing to lose anyways :smileytongue:

JPMorgan Palladium (100k), AmEx Platinum (NPSL), AmEx SPG (46k), AmEx BCP (42k), Chase Sapphire Preferred (47k), Citi Prestige (31k), Citi Thank You Preferred (27k), Citi Executive AAdvantage (25k), JPMorgan Ritz-Carlton (21k), Merrill+ (15k), US Bank Cash+ (22.5k), Wells Fargo (12k), Bloomingdale’s (12.4k), Chase Freedom (5k), Discover IT (5k).
Valued Contributor
boomhower
Posts: 1,863
Registered: ‎09-20-2011

Re: High Inquiries with Zero Balances

Technically no.  INQ;s drop your score and nothing changes that but time.  If you go from high UT to low UT the net change can be negated but the INQs are still hurting you.


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