Inquiries in past x many months? What is x?

[cowboyguy]

After getting declined by Chase & Citi, my 6 month of gardening is coming to an end. One of the reasons that they gave was high number of inquiries. However, I was wondering if lenders look at 6 months or 12 months or total number of inquiries on the CR? My inquiries have an interesting pattern; so both TU & EQ "each" pretty much go like this:

In past 6 months = 0 inquiries

In past 12 months = 3 inquiries

In past 24 months = 19 inquiries

That being said, I can't afford any further denials and wasted inquiries on my CR.

[Burned2manybridgesB4]

I feel for ya. I'm at the 19/19/6 zone, and sitting on my "app hands" for the next year, or two..

If you're at the six month mark, why not wait for the full twelve, then hit them?

[fittiger]

I think 3 inq's in the last year are the least of your worries; but first how long ago were each.  What are your other credentials; scores, AAoA, UTIL, how many accounts have been opened in last year and with whom?

You show 3 accounts with Chase already, how long have they been opened and how have you handled them?  A concern here is whether or not you've reached their max credit they will currently extend to you or not.  You've already got over $20K allocated from Chase, well over anything any other bank has extended you.  If you do decide to try for another chase account, you may get a denial, then have to recon, and may have to ask to reallocate some of these credit limits to the new account.

I'm not sure about Citi and their INQ sensitivity.  But if you're other qualifications are top notch, then my "opinion" is it shouldn't be much of an issue to have 3 INQs.  

What CR's have Chase and CITI pulled for past apps?  Those are the ones you need to look at as they will probably pull the same again.

[cowboyguy]

fittiger,

My scores are around 690 to 710 for the three bureaus. AAoA is 13 months. Utilization is 8%. 6 out of my 8 CCs were opened in 2013.

The first account with Chase was opened in Dec 2012 (Southwest) & I've used all of them extensively (spent around 20k to 30k on each card). I just closed my Southwest card before the annual fee was due, in the hope that having less accounts might improve my chance (but I understand its more about limit, than no. of accounts). I transferred my Southwest limit to CSP.

The Chase card that I'm planning to apply is Ink, which is my dream card. Chase is not a fan of allocating lines between personal and business cards. Although there are stories that they've did this, but very rare.

Based on these facts, what do you think my chance are?

[fittiger]

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@cowboyguy wrote:

fittiger,

My scores are around 690 to 710 for the three bureaus. AAoA is 13 months. Utilization is 8%. 6 out of my 8 CCs were opened in 2013.

The first account with Chase was opened in Dec 2012 (Southwest) & I've used all of them extensively (spent around 20k to 30k on each card). I just closed my Southwest card before the annual fee was due, in the hope that having less accounts might improve my chance (but I understand its more about limit, than no. of accounts). I transferred my Southwest limit to CSP.

The Chase card that I'm planning to apply is Ink, which is my dream card. Chase is not a fan of allocating lines between personal and business cards. Although there are stories that they've did this, but very rare.

Based on these facts, what do you think my chance are?

---

I don't really need an answer but Chase will be looking for one.  What is your business setup/model?  What is the business net and gross income?  How long has it been established?  ETC....

I recently applied for the CSP and INK Classic, I was approved for the CSP for 13.8K and was denied for INK, but I persuaded business recon, after 4 calls, to move $3K from my CSP to open it.  My score at the time was 761 and I had 8% UTIL, with AAoA of 6 yrs and I barely got approved.  I did not have a current cc relationship with chase at the time though and thats why they kept telling me they couldn't open the INK account, they wanted to see how I handled my CSP first.

My personal opinion, although dependent upon your business situation, is that you probably won't get approved for the INK at this time.  My thoughts are Chase will want to see some more age on their accounts (all accounts actually).   I'm not sure what's holding your scores down though and my only guess would be 1) age of accounts, 2) number of new accounts.  I would wait at least another 6 months, but probably a year, to let your scores increase before app'ing for an INK product.  Others may have a different experience and other advice on this though.  I've been wrong before.

[09Lexie]

IMO, it's the 6 new accounts out of 8 this year. Chase can be inq/new acct sensitive to thin files. I would suggest letting your accts age to 12 mos for the Ink card.

[Startome]

After 12 months, inquiries no longer effect your approval status so x is typically 12

[fittiger]

After 12 months inquiries no longer affect your Fico score. They may still affect your approval based on the lending institution's criteria.