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Frequent Contributor
RSCo
Posts: 472
Registered: ‎02-11-2013

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!!
Citi Hilton Honors: $25,000 -- Amex PRG: $NPSL -- Citi TY Premier World: $9,880 -- NWFCU: $7,500 -- Citi Home Depot: $7,000 -- Citi AAdvantage Platinum Visa Sig: $5,000 -- Visa Black Card: $5,000 -- Discover IT: $5,000 -- AmexTrueEarnings: $5,000 -- Amex Gold Delta: $4,500 -- Pottery Barn: $4,000 -- Ethan AllenGE: $4000 -- Chase Slate: $2,500 -- CapOne Platinum: $2,500 -- CapOne Platinum: $2,500 -- AmazonGE: $2,200 -- Barclays BJs: $1,800 -- WalmartGE: $1,500 -- PenFed LOC: $500
Frequent Contributor
RSCo
Posts: 472
Registered: ‎02-11-2013

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...
Citi Hilton Honors: $25,000 -- Amex PRG: $NPSL -- Citi TY Premier World: $9,880 -- NWFCU: $7,500 -- Citi Home Depot: $7,000 -- Citi AAdvantage Platinum Visa Sig: $5,000 -- Visa Black Card: $5,000 -- Discover IT: $5,000 -- AmexTrueEarnings: $5,000 -- Amex Gold Delta: $4,500 -- Pottery Barn: $4,000 -- Ethan AllenGE: $4000 -- Chase Slate: $2,500 -- CapOne Platinum: $2,500 -- CapOne Platinum: $2,500 -- AmazonGE: $2,200 -- Barclays BJs: $1,800 -- WalmartGE: $1,500 -- PenFed LOC: $500
Community Leader
Senior Contributor
myjourney
Posts: 25,246
Registered: ‎02-07-2013

Re: Inq

[ Edited ]

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 explain:smileyhappy:

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 

"Intelligence plus character--that is the goal of true education"
Cap1 EO link below
http://lmgtfy.com/?q=Capital+One+CEO+email+address+#seen
Last 5 apps 6/6/13
Valued Contributor
Stonemanmv
Posts: 1,246
Registered: ‎04-23-2013

Re: Inq

Ok thanks. It looks like a good strategy

SIlver:

Mega Contributor
LS2982
Posts: 15,434
Registered: ‎04-09-2011

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 explain:smileyhappy:

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??? :smileywink:




Silver Spade Garden Club Member - Last App 12/16/13 - Looking for a clean slate NO INQ's / Diamond Inspired!
Starting Score:
EX (PLUS) 583 EQ FICO 565 TU FICO 590 3/15/2011 / Goal Scores: 720
Current Score: EX FICO (PSECU) 671 (myFICO) N/A / EQ FICO 679 / TU08 FICO 678 / TU VS 706 3/6/2014
Community Leader
Senior Contributor
myjourney
Posts: 25,246
Registered: ‎02-07-2013

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 explain:smileyhappy:

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??? :smileywink:


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 

"Intelligence plus character--that is the goal of true education"
Cap1 EO link below
http://lmgtfy.com/?q=Capital+One+CEO+email+address+#seen
Last 5 apps 6/6/13
Community Leader
Senior Contributor
myjourney
Posts: 25,246
Registered: ‎02-07-2013

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

"Intelligence plus character--that is the goal of true education"
Cap1 EO link below
http://lmgtfy.com/?q=Capital+One+CEO+email+address+#seen
Last 5 apps 6/6/13
Super Contributor
enharu
Posts: 6,889
Registered: ‎02-27-2013

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).
New Contributor
mcf
Posts: 355
Registered: ‎02-25-2013

Re: Inq

[ Edited ]

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:Walmart TU 686, MyFico EQ 630, Credit Sesame 649, CK 636Current Score: 689 TU/Walmart CK 645 Goal Score:700 CLUB
Last HP:5/21/13Take the myFICO Fitness Challenge
Community Leader
Senior Contributor
myjourney
Posts: 25,246
Registered: ‎02-07-2013

Re: Inq


mcf wrote:

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


Thats why your gardening for awhile :smileywink:

"Intelligence plus character--that is the goal of true education"
Cap1 EO link below
http://lmgtfy.com/?q=Capital+One+CEO+email+address+#seen
Last 5 apps 6/6/13

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