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How fast do inquiries hit?

Established Contributor

Re: How fast do inquiries hit?

i really doubt it's instant, otherwise people wouldn't get approved for 20 cards in a day. In monitoring reports it always posts next day. I never got an AA from applying for 6 cards in a day.


total credit limits $108,400 Credit scores Ex 728 EQ 738 TU 758
Message 11 of 25
Frequent Contributor

Re: How fast do inquiries hit?


distantarray wrote:

i really doubt it's instant, otherwise people wouldn't get approved for 20 cards in a day. In monitoring reports it always posts next day. I never got an AA from applying for 6 cards in a day.


I wouldn't count out the inquiries hitting near instantly.  Our monitoring programs update daily, true.  But that's different than pulling a report.

 

I would bet that if you generated an inq and then pulled a full credit report on myFico, you would see that inq on the report.

 

Were I someone's potential creditor, I would want any hard pull I paid for to include up to the minute information on which I could make my decision.

bobebob || Nov: My FICO SW EQ(Upgraded Version) = 822 ||Sept: Walmart TU Fico=838Goal = FICO's>800 || In my wallet: CostcoAmEx(20k), DCU Visa Platinum (10k), BoA Visa Signature (17.1k), Walmart Discover (7.5k), AmEx Corporate (5k). All PIF every month.
Message 12 of 25
Established Contributor

Re: How fast do inquiries hit?

Some sub prime lender actually are able to make the inquiries appear BEFORE the applicant actually applies nowadays.

 

its a kind of magic.


NFCU #1 Fan!! NO MOAR APPS TIL 10/13 Minimum!!
TU -746, EX - 721, EQ -745
Cards:NFCU Flag Visa Sig $10000, CSP $8500, AMEX BCP $2000 Freedom $3500, Disc IT $5000, Cap 1 Green $2100, Credit 1 CLOSED! AU on Amex Green, Discover $2000, Cap One Plat $1000
Message 13 of 25
Established Contributor

Re: How fast do inquiries hit?

I read somewhere that multiple inquiries from the same creditor on the same day will get collapsed ito one after a day or so.  Is this true?


My Starting Score: EQ: 691 (11/30/11) TU98: 726 (11/30/11)
My Current Score: EQ: 779 (04/22/13) TU08: 835 (06/03/13)
DW Starting Score: EQ: 742 (03/02/12) TU98: 748 (03/02/12)
DW Current Score: EQ: 784 (03/11/13) TU08: 775 (06/03/13)
Message 14 of 25
Valued Contributor

Re: How fast do inquiries hit?


VirtualCuriosity wrote:

myjourney wrote:

Before you see the approval screen Lol


It's actually when you are filling out an app LOL.  IF you change your mind and hit escape, it's only a SP. 


What is the source of this info? I don't think this is accurate. In all the web forms, the front end verification like if you filled all the required fields or not, if your phone number is numerical etc is done on your browser side. The bank gets your data only when you click submit. There is no reason to design a more complex system.

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Message 15 of 25
Valued Contributor

Re: How fast do inquiries hit?


pakman92 wrote:

I read somewhere that multiple inquiries from the same creditor on the same day will get collapsed ito one after a day or so.  Is this true?


YES

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Message 16 of 25
Valued Contributor

Re: How fast do inquiries hit?


distantarray wrote:

i really doubt it's instant, otherwise people wouldn't get approved for 20 cards in a day. In monitoring reports it always posts next day. I never got an AA from applying for 6 cards in a day.


Monitoring services run a batch job every night.

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Message 17 of 25
Member

Assuming that inquiries are instant ... Then how can app...

Assuming that inquiries are instant ... Then how can app sprees be successful? Wouldn't the multiple inquiries make each successive app less likely to be successful? Or is an inquiry separate from an account actually being opened on one's CR? If so, when does the latter update?

Message 18 of 25
Regular Contributor

Re: Assuming that inquiries are instant ... Then how can app...


Nord wrote:

Assuming that inquiries are instant ... Then how can app sprees be successful? Wouldn't the multiple inquiries make each successive app less likely to be successful? Or is an inquiry separate from an account actually being opened on one's CR? If so, when does the latter update?


It depends what CR the lender pulls, how many inquiries you have on that CR and the lenders' sensitivity to the amount of your inquiries. So if Lender A pulls on TU and Lender B pulls on EX, they won't see the inquiries.

 

A hard inquiry is a seperate category in determining your FICO score. So are new accounts (AAoA). A new account doesn't hit your CR instantaneously, but rather days or weeks later, depending on the lender.

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Message 19 of 25

Re: How fast do inquiries hit?

I think that inquiries are only an issue when there are other issues and/or for certain lenders. This is why I think that people get approved with 20 apps a day... because it's not always important as people think it is to not have inquiries. I got approved for a card with 15 inquries and my girlfriend got denied with 2 inquiries. When they want to deny you, they're going to give you a reason but doesn't mean it's necessary the only factor.

Message 20 of 25