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Inq

Established Contributor

Re: Inq

Here's my profile...

35 total accounts
19 open accounts, of which 17 are charge/revolvers

INQ's - ALL since Dec 2012
Ex. Eq. Tu.
12. 13. 6

Didn't seem to hurt me during my recent app sprees.. Never declined due to Inq, at least according to denial reasons..

Good Luck!!
$30,500$18,500NPSL$15,000$10,000$25,000$32,000
Message 11 of 30
Established Contributor

Re: Inq

Once you get US Bank up in terms of CL, you should see higher limits on your others, and more approvals.. Banks like to see a total average CL of greater than 5k across your credit profile.. Right now it looks like your avg is around $2,750...
$30,500$18,500NPSL$15,000$10,000$25,000$32,000
Message 12 of 30
Super Contributor

Re: Inq


Stonemanmv wrote:
Hi everybody. I'm wondering how many inq's is to many? It looks like some people app every six months. Wouldn't those really add up?

I'm guilty of the 6 month app and I'll explainSmiley Happy

Every 6 months two things happen 

 

(1) apply for new cards ...cards age to 6,12,18, 24

 

(2) INQ's age to 6, 12, 18, 24 and drop

They stop hurting my score at 1 year

 

So after 2 years every 6 months I have INQ's falling off while all cards age together allowing me to ....wash rinse and repeat cycle

 

eta I also spread out choices of cards over the 3 CB's 

Before you app think...
Have you done your research of the CC?
Does it fit your spending?
Do you have a plan for the bonus w/o going into debt?
Can you afford the AF?
Do you know the cards benefits? Is it worth the HP?
Message 13 of 30
Valued Contributor

Re: Inq

Ok thanks. It looks like a good strategy

SIlver:

Message 14 of 30
Mega Contributor

Re: Inq


myjourney wrote:

Stonemanmv wrote:
Hi everybody. I'm wondering how many inq's is to many? It looks like some people app every six months. Wouldn't those really add up?

I'm guilty of the 6 month app and I'll explainSmiley Happy

Every 6 months two things happen 

 

(1) apply for new cards ...cards age to 6,12,18, 24

 

(2) INQ's age to 6, 12, 18, 24 and drop

They stop hurting my score at 1 year

 

So after 2 years every 6 months I have INQ's falling off while all cards age together allowing me to ....wash rinse and repeat cycle

 

eta I also spread out choices of cards over the 3 CB's 


But are these apps needs or wants??? Smiley Wink




EQ FICO 548 3/3/16
Message 15 of 30
Super Contributor

Re: Inq


LS2982 wrote:

myjourney wrote:

Stonemanmv wrote:
Hi everybody. I'm wondering how many inq's is to many? It looks like some people app every six months. Wouldn't those really add up?

I'm guilty of the 6 month app and I'll explainSmiley Happy

Every 6 months two things happen 

 

(1) apply for new cards ...cards age to 6,12,18, 24

 

(2) INQ's age to 6, 12, 18, 24 and drop

They stop hurting my score at 1 year

 

So after 2 years every 6 months I have INQ's falling off while all cards age together allowing me to ....wash rinse and repeat cycle

 

eta I also spread out choices of cards over the 3 CB's 


But are these apps needs or wants??? Smiley Wink


They vary between 3-5 cards December spree was 4 cards this spree was 4 cards a year ago in June it was only 2 card spree 

Always only what I need 

Before you app think...
Have you done your research of the CC?
Does it fit your spending?
Do you have a plan for the bonus w/o going into debt?
Can you afford the AF?
Do you know the cards benefits? Is it worth the HP?
Message 16 of 30
Super Contributor

Re: Inq

I forgot to add that the 6 months i'm not applying for cards I'm trying for SP CLI's again every 6,12,18,24  months

Before you app think...
Have you done your research of the CC?
Does it fit your spending?
Do you have a plan for the bonus w/o going into debt?
Can you afford the AF?
Do you know the cards benefits? Is it worth the HP?
Message 17 of 30
Super Contributor

Re: Inq


09Lexie wrote:
Too many depends on the individuals cr. thick files can usually handle more inq's than thin files. Keep in mind inq's stop counting against your FICO after 1yr.

+1. Keep in mind inquiries is basically just to let other lenders know how frequent and active one is at seeking credit. 

People with good thick files already has a lot of data history for credit companies to analyze their risk exposure, so they're more likely to get away with a higher number of inquiries assuming everything else on their CR checks out fine. Whereas for a thin file, there's only so much data for the bank to work with, so they're forced to assume worst case scenario for a lot of things. As a result having 5 inquiries in past 12 months can sometimes be flagged as excessive for people with thin files.

 

Regardless, having an excessive amount of inquiries over a short period of time (i.e. 20+ inquiries in a 1 year period) can be interpreted as one being desperate for credit, and that should be avoided to prevent AA.

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).
Message 18 of 30
Contributor

Re: Inq

Ohh Geez i have 39 lol.. thats just with equifax.. TU... 18 now 2 were removed was 20.. man dunno experian.. databases are being updated atm. Cant wait until aug though because august last year i went crazy and thats where most of these came from so if they impact less in a yr im about to have it made i hope! So when say 15 fall off what does this equate to a point wise, maybe 1 point for each??

Starting Score:567Walmart TU 701, Credit Sesame 722, credit secure 701 credit karma 694Last Score: 689 TU/Walmart CK 645 Goal Score:800 CLUB
Last HP:2/2015 Util:9% CL:82KTake the myFICO Fitness Challenge
Message 19 of 30
Super Contributor

Re: Inq


mcf wrote:

Ohh Geez i have 39 lol.. thats just with equifax..


Thats why your gardening for awhile Smiley Wink

Before you app think...
Have you done your research of the CC?
Does it fit your spending?
Do you have a plan for the bonus w/o going into debt?
Can you afford the AF?
Do you know the cards benefits? Is it worth the HP?
Message 20 of 30