@longtimelurker wrote:
@bobbay wrote:I spoke with support at myfico and they mentioned that when apps are clustered not only do other companies not see new accounts on your report yet but inquiries are clustered into one inq for scoring purpose because the Algorithm looks at it like you may be shopping for a BT offer. It has been mentioned several times here that auto inquiries are grouped like this however, this was the first time it has been mentioned to me that credit card inquiries on a CRB in a time window are grouped into one INQ.
I find that really surprisingly (as in "not likely to be true")! Lots of people have done multiple app sprees and never noticed that.
Agreed. The only time that 'cluster' will help as described is when mortgage/auto loan shopping and the inq's must be coded correctly.
@Cloudlb wrote:thanks guys. I don't know if two apps is a spree, but I applied today for the City Diamond Preferred and Capital One Venture Rewards and was approved for both. I think that's all I need for now. Was thinking about applying for Chase Freedom at same time, but what the heck do I need all that credit for?
I agree... So many people get all these cards...what do they need all this credit for? Wait a second.....I just looked at my sig...never mind 