09-26-2013 06:56 AM
Those of us who haven't bought a car in awhile (myself) forget about how many times your credit can be pulled when you apply, so when I see 19-25 INQ's i am amazed. I forget sometimes about the car dealers 'shopping for rates' and think they are CC apps.
I guess Huntington is not INQ sensitive.
09-26-2013 07:18 AM
Congrats! 19 INQ's WOW
I'm not saying this is a good thing, but I have 26 inquiries....6 of which are from when I bought a car and the dealer told me that they would count as 1....right. I don't know that inquiries carry as much weight as some would lead you to believe. Anyway, I'm glad to hear that you got it!
Well I haven't been automobile shopping, just credit cards . Of the 19, only about four are from this year, so that helps some. I really haven't run into any problems with number of inquiries from any lender at all. I believe the longer the history, the less impact inquiries have with approvals. It also may help that I only let one balance report, so low "debt". I reckon inquiries would matter a lot more if I was 90% on a few cards.
Automotive inquiries may only count as one with scoring models, but a computer or underwriter will still see all of them when a report is pulled. I really don't know why they even mention the lumping together because it will still cause a hang up when applying for something.
Anyway, yes I am glad to have gotten the card. I really expected a low limit, but I have had surprisingly high limit approvals from lenders pulling Equifax. It used to be that Equifax pulls got me low limits, but that seems to have gone away.