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What Do They Consider To Many Inquiries?

Valued Contributor

What Do They Consider To Many Inquiries?

What do creditors consider to many inquiries and do they look at the number in the last 3 months, 6 months, 1 year?

 

I know generally inquiries have an impact on your CR for a year and fall off after 2. 

Cap 1 - $23,000 / Lowe’s - $17,000 / Barclay Rewards - $16,400. / Capital 1 - $15,000 / Walmart - $15,000
Cap 1 - $12,000 / PenFed - $10,000 / Penney - $10,000 / Barclay Apple Rewards - $4000 / Merrick - $2500


EQ - 740 / TU - 748 / EX - 748
Message 1 of 14
13 REPLIES
Established Contributor

Re: What Do They Consider To Many Inquiries?

That's  a good question and the answer can vary between lenders.  Since inquiries do the most damage during the first 6 months my guess would be more than 3 in the last 6 months.  I always make sure that i don't have any inquiries during the previous 6 months if i plan on apping for new credit.  That's always worked for me. 

Message 2 of 14
Established Contributor

Re: What Do They Consider To Many Inquiries?

when I applied for chase amazon, i had 8 inquiries probably within 6-7 months.... on my EX... they didn't even mention that... so, i guess it all depends with the lender....


Starting Score: MYFICO 12/30/15 -TU: 481, EQ:561, EX:532 - BK7 DISCHARGED 12/2015 - Current: 09/01/2016 TU:642 EQ: 651 EX: 646
NFCU cashRewards:$6200 QS:$1500 Merrick:$1200 Cabelas:$1000 SonyVisa: $500 JCrew:$850 Overstock:$850 Express: $1050 PaypalCredit:$2150 NAVCHECK:$10K
Message 3 of 14
Established Contributor

Re: What Do They Consider To Many Inquiries?

Ymmv but for securing the approval, no inqs in 12 months has worked for me.
Fico Scores: . Walmart TU 748 . Garden 8/19 2014 .

Cap One Journey 500 | Discover IT 500 | GE Home Design 5.6k | GE HHGREGG 5k | Amex Zync NPSL | Amex BCE 6k | Citi Forward 4.2k | Citi Dividend 3k | GE BrandsMart 1k | GE Lowes 8.5k | Discover Walmart 7.5k | Barclays Apple 2.5k | BoA CR 2.7k | CSP 7.2k | Platinum Prestige 5k | IT Chrome 4k | Slate 2.3k |
Message 4 of 14
Moderator Emeritus

Re: What Do They Consider To Many Inquiries?

18 is too many for discover. 14 is too many for chase; but chase will approve on recon.
nfcu & amex charge card... they don't care.

Starting Score: 08/29/2011 TU 671 EQ 674
Current Score: TU 754 EQ 694 EX 697
Wallet: NFCU Visa Sig 25k, Amex Lowes 22k, NavCheck 15k, Amex PRG, Amex Zync, Discover It 13.5k, Amazon Visa 5k
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Message 5 of 14
Valued Contributor

Re: What Do They Consider To Many Inquiries?


webhopper wrote:
18 is too many for discover. 14 is too many for chase; but chase will approve on recon.
nfcu & amex charge card... they don't care.

Haha that post sounds like it comes from experience.

 

In all cases, it depends on how the rest of your file looks. If you are already borderline on approval, INQ's won't help that's for sure. No set number, some may get approved with 10 INQ's while other get declined with 0 INQ's. I think 3 is always a good number to stay under.

Too many INQs & low AAoA so I'm off to tend the Garden.     Age:23    


     $17k       $8.5K          Closed          $19k      $6.5k        $24.2k        Closed         $5k       Closed     $8.5k        Closed      @2.49%
Message 6 of 14
Frequent Contributor

Re: What Do They Consider To Many Inquiries?

Yeah...I'd say a year free is good

I think I'll do that when I app for a AMEX BCE next year and a better CITI card

I always see recent inquiries in last 6 months so 12 should be good and then your score could likely get a joist from being inquiry free for a year as previous ones fall off

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Current Score: 670
Goal Score: 700


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Message 7 of 14
Regular Contributor

Re: What Do They Consider To Many Inquiries?

6 months is a good one.

Message 8 of 14
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Established Contributor

Re: What Do They Consider To Many Inquiries?

nah, the whole point of inquires is to rack them up, bump them off and start over again!

 

I had 40+ from NFCU alone in the last 2 years

"As long as the music is playing, you've got to get up and dance," he said. "We're still dancing."---Prince CEO Citi Bank

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Message 9 of 14
Valued Contributor

Re: What Do They Consider To Many Inquiries?


swpopham wrote:

nah, the whole point of inquires is to rack them up, bump them off and start over again!

 

I had 40+ from NFCU alone in the last 2 years


40? What were they from?  Im about to join NFCU and need to see how much they will pull (I know they are a bit pull happy but 40 seems excessive).



Starting Score: EQ 551 TU 548 CK 607on 6/8/12, EX 542(AMEX pull 3/4/12)
Current Score: EQ 710 TU 727 EX 704 CK 719(FAKO-EX 697, EQ 697, TU 697)
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Message 10 of 14