Is it true that American Express uses 1 inquiry every 24 hours for applications?

[Awesomely]

I applied for a Gold and Clear card last month at the same time but it shows 2 inquiries on Experian. So is it?

[Walt_K]

Did you apply online?  I've heard this for online apps, but not sure if it applies to apps over the phone. 

Also, unsure if it is truly one inquiry for 24 hour period, or if the second application has to be placed before midnight the same day.   

[Awesomely]

Yeah it was online, having one more inquiry doesn't really do anything so it's okay. How long do you have to wait before companies stop caring about a single inquiry? Isn't it 6 months to a year? 

[Walt_K]

Did you apply the same day or did you apply the next day inside of 24 hours?  If you applied the next day, I guess that clears up the issue of whether it is 24 hours or calendar day.  Calendar day seems to make more sense.

The inquiry is on your report for two years but only factors into FICO scoring for the first year.  I don't know how to answer how long before a company stops caring.  I think it's probably more about total number.  If your total number is modest, I doubt it's a big deal.  But there are some lenders that seem to be more inquiry sensitive than others.  If you're thinking about a new app, you may want to search that lender to be sure.

[Amnesia87]

Did you get approved for the first one?

Which order did you app.

I did gold then blue a few weeks ago, 1 inq

Gold was instant blue was 7-10 days but showed approved a few minutes later on status page.

Also did they pull just EX or all 3?

[Awesomely]

Yeah I think it's just a calendar day not 24 hours. I appled for the Gold and then the Clear after and they only pulled Experian. Around June 15th I will apply for a credit limit increase to $6,000, hopefully it goes through =D