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Need Advice

Senior Contributor

Re: Need Advice

I'm not sure who told you that inquiries fall off after 90 days, but I am pretty sure they are wrong.
Latest scores: Walmart TU: 769. MyFICO TU: 769. DCU EQ: 755. MyFICO EQ: 780. PSECU EX: 756. MyFICO EX: 780.
Message 11 of 27
Moderator Emerita

Re: Need Advice


laz98 wrote:
I'm not sure who told you that inquiries fall off after 90 days, but I am pretty sure they are wrong.

I'm completely sure they were wrong! Smiley Happy Good info from laz98.

Inqs stay on your reports for 2 years (24 months.) They count for FICO scoring for 12 months, so on your FICO score reports, you will only see those within the last 12 months. But on your full reports, and on reports from other credit monitoring services like TrueCredit, Chase ID, CreditSecure, etc., they will display for 24 months.

Now, as to what lenders look at, that is a completely different issue. Remember, lenders do not = FICO. Many here have reported that lenders only look at inqs within the last 6 months, although there is some evidence that some, like PenFed, look at 12 months' worth or longer.

Don't forget that the demands of the FICO scoring formulas are not necessarily the same as those of lenders.
* Credit is a wonderful servant, but a terrible master. * Who's the boss --you or your credit?
FICO's: EQ 781 - TU 793 - EX 779 (from PSECU) - Done credit hunting; having fun with credit gardening. - EQ 590 on 5/14/2007
Message 12 of 27
Contributor

Re: Need Advice

So you'd wait until there are no inquries showing? So after june of this year, this way I have a better chance??
Message 13 of 27
Contributor

Re: Need Advice

Anyone?? I was thinking of trying today or friday, but I'm kind of nervous... What would you do?
Message 14 of 27
Established Contributor

Re: Need Advice


theNavigator wrote:
So you'd wait until there are no inquries showing? So after june of this year, this way I have a better chance??

 

Did you try the preapproval link for BOA yet? It doesn't result in a hard inquiry. If you only have 1 inq on your reports, you should be good.  Try the preapproval for BOA and see what offer(s) you get. If no offers come up then it's up to you to decide to app or not.

 

Also it was suggested that you call the backdoor # for Cap1 for a CLI and ask if it will be a hard or soft pull and then decide if a CLI is worth a pull.

 

As mentioned before inquiries stay on your reports for 2 years but only count in your FICO score for 1 year. If you only have 1 or 2 inquiries on your reports, you should be good to go as long as your scores and reports are good.

 

Remember no one can guarantee what any cc company will do in this current market.

Message 15 of 27
Contributor

Re: Need Advice

I'm going to try tomorrow I'M kind of nervous, if I get denied I wanted to sort of have a back up plan and try to apply for another card this way I do them both on the same day and might get approved for the other card... Ugh.. So maybe thoughts.
Message 16 of 27
Established Contributor

Re: Need Advice


theNavigator wrote:

My last inquiry was June 08, last year.. Should I try the pre-approval or should I wait until a year has gone by? I keep getting mixed answers. Someone said the inquiries fall off and don't matter after 90 days, someone else said they do?? What would you do??

 

I have one paid collection... What are my chances. All scores around 660-680..

 


 

There is really no reason at all not to try the pre-approval on the BofA site. The soft inquiry won't hurt you at all, absolutely no one other than yourself will ever see this soft pull on your credit report.
Message 17 of 27
Contributor

Re: Need Advice

And say I do get approved for something, I mean offered does that always usually result in getting a card?
Message Edited by theNavigator on 05-07-2009 08:31 PM
Message 18 of 27
Contributor

Re: Need Advice

Ugh. Smiley Sad I got this message...

 

Unfortunately, we are unable to provide you with any special online preapproved credit card offers at this time. However, you can still take advantage of other Bank of America offers below.

 

 

I hope that I didn't get anything too major on my report. IDK what to do now, I want to try for something else today as well. I need another regular credit card just in case down the road... Should I do the 99/500 thing? And go to the bank and talk with someone to help me get that processed or what?

Message 19 of 27
Contributor

Re: Need Advice

Well, I went to the bank and had them do a full credit application... Response was "pending" the lady said that wasn't a bad sign... Cause she can tell when someone has automatically been "denied"...

 

In 7-10 days if they send something saying I am not approved, then I can go back and she's going to call up for me for the 99/500 card. I guess its worth it, just so I can have two major regular credit cards... I'm not trying for anything else, I don't want to try a second place today and then have it all look negative on me when they do a manual review.. So we'll see what happens. I'm crossing my fingers and hope they approve me. Even if it's just $500-$1000.. It's still a start. So I'll know.. and then try for that 99/500. Cause I know my credit isn't bad to where I wouldn't qualify for that. I'm between 660-680. No lates, maxed out limits now etc... I'm in the good. Only bad thing was a collection for a mesly $150... and I paid that over 6 months ago.

Message 20 of 27