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I just got denied for a Citi credit card I applied for, and the reason given was:
Too many recent credit inquiries are recorded on your
credit bureau report
which they got from Equifax. I applied for and received 3 credit cards in the past few weeks but it seems I have reached a threshold. How long should I wait before applying for this credit card again? I also opened a mortgage about 5 months ago and I'm not sure if this contributed. Thanks for any insight.
Citi is sensitive to inquires, as are many CCC's.
By mid-January I'll be down to 9 inquiries in the past 12 months and can apply for the rest of the credit cards I'd like. Maybe I'll also try to apply for several on the same day and see if it works.
@Anonymous wrote:
From research on this forum and the Internet, it seems that 12 months is used for the "too many recent inquiries" message. I determined I had 15 inquiries in the past year when I applied for the Citi card. Since I got the 3 most recent credit cards with inquiries of 14, 13, and 12, I'd like to think that 15 tipped me over but it could also be that Citi uses a different automated number than some of the other companies.
By mid-January I'll be down to 9 inquiries in the past 12 months and can apply for the rest of the credit cards I'd like. Maybe I'll also try to apply for several on the same day and see if it works.
Quite a comeback!
I hope this adds some value for someone.
Over 5 years, I cancelled many credit cards, not because of debt; but because I wasn't expecting to use them.
I also requested lower limits on 3 cards, eventually cancelling one,
As the economy sank, I chopped it down to two. Yes I know tat eliminating long termcards isn't good, but i felt safe with my recent past. My credit score only went down for about 3 months and spiked backup again. I would suppose they saw that after 3 months i didn't apply for more credit or load up my cards.
In the last 2 years and last 3 months, I requested a limit increase.
In each case they doubled my credit limit without touching my credit record, based on pyament history.
No additional info needed either, just an SSN over the phone or a request online.
Not everyone is getting limits reduced, but I have worked hrd to not maintain debt.
Cheers
update: I found out today Citi upgrade my world card to World Elite, but I have no idea what the difference is