How Many is Too Many

[n777ua]

I see thread after thread and worry regarding inq's.  I've seen some people write that they think more than 5 will get you denied, and I've seen some getitng approved with more than 15.  (I think I also saw someone here or on another board who claimed to have 70??!!)

In any event, I"m just curious what the overall concensus is on that magical number that is "too many", and who is most sensitive (after Barclays of course).  I have 6EX,7EQ, and 5 TU at the moment.  Myself, I'd like to keep the numbers here or lower, but I may just be paranoid.  Scores are 735 EX/TU and 747 EQ (via USAA...not sure how accurate that is) and 737 TU via a CapOne Spark app two weeks ago.

[iwazl71]

I have 5 on TU, 35 on EX, and 4 on EQ.  I have been approved for 25 credit cards, a home refinance, 2 car refinances and a new car lease in the past 6 months.

TU -782

EX -740

EQ -764

The only thing I have been denied on is my cli's for AMEX.

[coldnmn]

For most 4 on each IMHO, with your cards you must have a great credit profile. I don't believe it would carry much negative weight as far as applying for anything.

[09Lexie]

Like most things it's a ..ymmv. There are people with thin files who have been approved with 'high' inq's as well as those with thick files getting denied and having few or low inq's.

There is no pact answer one way or another.

[B335is]

I think with a thick file, 5-6 inq in the last 6 months is about all I could stomach and seems to be the point where instant approvals turn into recons and/or denials.   However, I think most lenders put more emphasis on NEW ACCTS rather than inquiries alone.  Amex, Chase and Citi haven't denied me for products based on inquiries (they all pull EX for me in MI), which has 21 total in the last 2 years.  I've found Barclays, BofA, US Bank and a lot of Credit Unions are most concerned with new accounts and potentially "pyramiding debt" and the others not quite as much.  Again, that has only been my experience so YMMV.

[Walt_K]

I think once you are in with a lender they weight your account history much more than your inquiries on your report as well.  I was denied by Citi for too many inquiries when I applied right after closing on our house.  I was able to recon and explain that most of the inquries were due to mortgage shopping.  I've since added multiple new cards including additional Citi cards and got instant approvals with more inquiries than when Citi first denied me.  I have 9 TU, 17 EX, and 15 EQ inquiries currently.  

It really depends on where you are and what you are trying to accomplish.  If you have baddies on your report and you are trying to get a mortgage, then every last point counts.  You are really trying to optimize your reports and don't need unnecessary inquries and lowering of your AAoA.  

But if you have a thicker file and have no major purchases coming up, especially if you have a clean file, it really doesn't matter that much.  Having closed on our house and having bought a new car, I'm not looking for any major purchases anytime soon.  If there are CC bonuses I want to take advantage of, I apply.  I've been applying for 4-5 new cards every 3 months and mostly gotten instant approvals.  If I get denied for a card, it is no big deal.  So in some sense, for me, it is too many at the point I start getting denials.  If that happens, I'd just cool it for few months.

[user5387]

I think I'd focus more on what you get for taking a hard inquiry.

For example, I have seen multiple posters on this forum talk about how they apply for the same card over and over, with repeated denials.  Not only does this drive up the inquiries, it may cause the CC company you're applying to, as well as other companies, to get tired of you.  Another example is getting a lot of cards with low limits, or cards that you use once for a bonus and then put in the sock drawer.

On the other hand, if you take a hard and get a substantial new account, and your utilization goes down, and your AAoA is still okay, then by all means go for it.

[sandman2435]

if you have a thick file you should not have any worries,I have a ton of inquries but almost 23 years of credit.and less than 1% util..the only bank that won't touch me is US Bank...I have very high limits but I always pay in full..one day I will get a US Bank credit card lol

[longtimelurker]

Certainly for scoring, once the number of inqs reaches some number (probably depending on the rest of the file) additional inqs have no more impact.  So if everything else is OK, automated approvals based on score will still happen.  At a manual review, while as Lexie says there are many exceptions, lots of inquiries on a thick file will matter less.   But I would guess it also depends on the date spread as well, so having a new inq every month for the last year MIGHT be less alarming than having them all in the last 2 months.

[navigatethis12]

I always find it amusing when someone comes on and has two inquiries in the past two years, one new account opened one year ago, a 100 balance on a 10,000 card and they are afraid they won't get approved. I have only been declined once because of inquiries and that was from Citi. I've applied multiples times with more inquiries now and they don't seem to care. I reckon once you show history inquiries don't matter much.