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NO APPS for 2012

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tcbofade
Super Contributor

Re: NO APPS for 2012


@jausanka wrote:

@tcbofade wrote:

 

I've got WAY too many credit cards, and WAY too many inq's to qualify for "better" ones.

 



Not to "enable" bad habits.... but don't let this be your motivating factor.  There is no such thing as "too many inq's to qualify for "better" ones."  Time after time, people here have proven that "too many inquiries" is horribly over-rated fear mongering.  Just like baddies, util, AAoA, and other credit facets, if you have reasonable explanations for inquiries, they are never a deal-breaker with a manual review.  They simply may exempt you from automatic computer-algorithm-derived approvals.  

 

On the other hand, too many cards is a real concern and I wish you best of luck to get your credit profile just where you want it!  

 

Good luck! Smiley Happy



I know that everyone's situation is different, but in the last 90 days, I've had denials from Citi, Chase, BofA, Discover, Barclay's, and Amex. 

 

Every one listed too many inquiries as THE reason for denial.

 

I called to recon on each of them.  Every CSR told me the same thing...

 

If you know of a zero percent balance transfer card that would approve me (Ficos are 670ish) please advise.  Smiley Happy

02/01/24 Fico 8: EX 757, EQ 803, TU 783.
Fico 9: EX 760 12/16/23, EQ 790 02/04/24, TU No idea.

Zero percent financing is where the devil lives...
Message 11 of 15
p-
Valued Contributor

Re: NO APPS for 2012

"Zero percent financing is where the devil lives..."

 

Lol - Who can resist free money?

Message 12 of 15
jausanka
Frequent Contributor

Re: NO APPS for 2012

Like you said, everyone's situation is different... but I (and many others) have had approvals with 15+ inquiries.. Recently got Chase Sapphire Preferred with 18 on EX.  Got Navy with 12, PSECU with 16, PenFed with 14, and Barclay's appoved me (years ago) with 22.

 

Best of luck, and work on the recon!  Always have a story... comparing terms, looking to consolidate, etc.  Make them feel that if they approve you, they are taking away business from your other accounts that have good payment history.

Message 13 of 15
tcbofade
Super Contributor

Re: NO APPS for 2012


@p- wrote:

"Zero percent financing is where the devil lives..."

 

Lol - Who can resist free money?


Certainly not ME.  Smiley Tongue

02/01/24 Fico 8: EX 757, EQ 803, TU 783.
Fico 9: EX 760 12/16/23, EQ 790 02/04/24, TU No idea.

Zero percent financing is where the devil lives...
Message 14 of 15
tcbofade
Super Contributor

Re: NO APPS for 2012


@jausanka wrote:

Like you said, everyone's situation is different... but I (and many others) have had approvals with 15+ inquiries.. Recently got Chase Sapphire Preferred with 18 on EX.  Got Navy with 12, PSECU with 16, PenFed with 14, and Barclay's appoved me (years ago) with 22.

 

Best of luck, and work on the recon!  Always have a story... comparing terms, looking to consolidate, etc.  Make them feel that if they approve you, they are taking away business from your other accounts that have good payment history.


Thank you for your input, I really do appreciate it.

 

I'm not certain on this, but I think that each different bank has different FICO score / util / inq thresholds....

 

For instance, Chase may be fine with 18 inq's if your score is 750, but 18 inq's may be too many if your score is 700.

 

I think.

 

Who knows?

 

For the moment, my general game plan is to reduce util and have ZERO inq's in 2012.

 

Should put me in the 700 club by 01 Jan 2013.  Smiley Happy

 

02/01/24 Fico 8: EX 757, EQ 803, TU 783.
Fico 9: EX 760 12/16/23, EQ 790 02/04/24, TU No idea.

Zero percent financing is where the devil lives...
Message 15 of 15
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