Reply
Established Contributor
shakalaka
Posts: 567
Registered: ‎09-10-2012
0

Re: Whats the magic number of Inquiries for Amex, Discover and Chase...


SpeedingWheels wrote:

I dont know if Discover has a real AAoA requirement but when I recon'd with Chase they told me straight out that they want to see at least 1 acct with over a year and "at least a couple other accts". 

 

From everything you have stated you're in a better position than I was when I app'd for Discover and I got instant approved for 1.5k back in October. 

Also instant approved for Amex Delta for 2k this past week. 

 

Knock down that UTIL and then app for the ones you want. 

Just make sure that the card you're going for is within your reach (I wouldn't look at Visa Signature or Amex BCP or Plat for example)


Yes and No. Util should be down of course. But AAoA is YMMV. Look at my signature. I was approved for Discover and ZYNC with 6 month history and Chase and Platinum and BCE with 10 months. AAoA was 6 months.

 

So it depends. As long as you score is good and Util down, you could do it. But may have to recon.


Amex Platinum (NPSL) | Amex BCE (33,400) | Chase Sapphire Preferred (24,800) | Discover IT (12,700) | Chase Freedom (6,300) | Walmart (4,500) | CapOne (4.000) | Alliant CU Visa | Gone for good: CapOne secured (thx for getting me started) | Amex Zync (thx for getting me into AX)

FICO: TU 758 (10/12) EQ 724 (10/22) EX 748 (12/5)

Established Contributor
Pilotdude
Posts: 955
Registered: ‎02-02-2013
0

Re: What's the magic number of Inquiries for Amex, Discover and Chase...

[ Edited ]

Ahhh...I always wondered why creditors would like people to not be using the credit they give them.  Seems sorta counterproductive to me.

 

The utilization issue I have is that all of the cards I have now, including the one's I am merely an authorized user on, all have really low limits.  Like 1000 or less.  So if I so much as put a tank of gas on one of them, I will use 5% of its utilization. 

 

Hence the take them down and go for better cards with higher limits that can actually tolerate some usage without hurting my utilization percentages. 

 

10% of our Discover card limit which is the highest is a mere 100 dollars. As you can see it wont take much to bounce utilization above 10% across all cards with a 1000 limit being the highest. (Aside from the "no preset but actually preset multi thousand amex limit" )

 

So in actuality I think my pay off will be only take me to less than 10% and not really zero anyway.

 

 

 


NFCU #1 Fan!! NO MOAR APPS TIL 10/13 Minimum!!
TU -746, EX - 721, EQ -745
Cards:NFCU Flag Visa Sig $10000, CSP $8500, AMEX BCP $2000 Freedom $3500, Disc IT $5000, Cap 1 Green $2100, Credit 1 CLOSED! AU on Amex Green, Discover $2000, Cap One Plat $1000
Regular Contributor
ceemee2203
Posts: 201
Registered: ‎07-27-2012
0

Re: What's the magic number of Inquiries for Amex, Discover and Chase...

If you pay them down before the statement cuts, then it doesn't matter how much you spend on the card. You know when your statement cuts each month, spend 500 if you need to (don't spend what you don't need) and pay 410 before the statement cuts. Only $90 (9%) will report.
Current Cards: AMEX Green, AMEX BCE ($15.2k), AMEX SPG ($6k), Arrival ($7.5k), Merrill+ ($7.5k), Freedom ($5k)

4/14 - 762 Fico (Barclaycard)
Established Contributor
Pilotdude
Posts: 955
Registered: ‎02-02-2013
0

Re: What's the magic number of Inquiries for Amex, Discover and Chase...

Right.  Thats what I plan on doing.  About a week before the statements of each cut I will pay them down. At the end of the month they will collectively add up to no more than 9% total usage. I will also be sure that I dont have the full 9% assigned to one card either.  I will keep it spread out so no card has more than say 3% of its individual limit.

 

 

 

 


NFCU #1 Fan!! NO MOAR APPS TIL 10/13 Minimum!!
TU -746, EX - 721, EQ -745
Cards:NFCU Flag Visa Sig $10000, CSP $8500, AMEX BCP $2000 Freedom $3500, Disc IT $5000, Cap 1 Green $2100, Credit 1 CLOSED! AU on Amex Green, Discover $2000, Cap One Plat $1000
Regular Contributor
ukimafija
Posts: 127
Registered: ‎08-13-2012
0

Re: What's the magic number of Inquiries for Amex, Discover and Chase...

[ Edited ]

I got Amex BCE and Blue Sky a week apart first one with 8 inq and second with of course 9 hard inq on EX report.

My scores were in the 740-750 range ,1-2% Utilization, AAOA 18 months at a time, But i had 2 other cc with 5400 and 6k limit at a time.....?They were softing me over 18 months...Chase try not to have more than 4 or 5 inq  and they should be 4-6 months old at least. But it all depends on your total credit profile.

I say get utilization down to like 4-5%  , than apply for Amex BCE....

BOA Cash Rewards Visa Sig. 12K; BOA Travel Rewards Visa Sig 5K, US Bank Cash+ 11.5K, AMEX BCE 6200, AMEX BLUE Sky 7K, Chase Freedom Visa Sig. 5400, Fort Knox FCU Visa Platinum 2500; CAP ONE Cash Rewards WORLD MC 5K

Starting Score: 580
Current Score: 747
Goal Score: 800+


Take the FICO Fitness Challenge
Senior Contributor
youngandcreditwrthy
Posts: 6,242
Registered: ‎08-16-2012
0

Re: Whats the magic number of Inquiries for Amex, Discover and Chase...

I got approved with similar stats:
696 TU FICO for BCE $3500 cl 22.24 after intro
688 EQ for Discover Motiva $4000 cl 19.99 after intro

Income: 149100
Aaoa: 2 + years
Inqs: almost 10 in two years
Util: like 10-15%
Total credit avail at time of opening: $100,000+

Hope that helps!
Marriott PR$25k | BCE $24.5K |BankAmericard Visa $25k| Wmt Discover $12.5k | BR Visa $12.5k | Amex Delta Gold $10k | Discover IT $10k | Paypal Extras MC $15k | Amazon Store $10k|Arrival $12.7k | Smile Gen $7.25k | Dillard's $10k | West Elm $4k| Express $3.05K | Mypoints.com Visa $4.5k | Freedom Visa $1k| Amex Surpass $1k
Valued Contributor
SnackTrader
Posts: 1,566
Registered: ‎09-15-2012
0

Re: Whats the magic number of Inquiries for Amex, Discover and Chase...

Some anecdotal evidence says that you actually don't want multiple cards reporting balances, Pilotdude. Under many forum members' hypothesis, you should pay off all cards to $0 before the statement date with the exception of one card reporting a small (1-9%) balance. That is for ideal score, since multiple cards reporting balances may impact score.

In My Wallet: Amex BCP (12/12) $22.200, Cap1 Quicksilver (6/12) $14,000, Chase CSP (4/14) $12,000, Barclaycard Rewards (5/13) $10,500, Citi Forward (12/12) $9,600, Chase Freedom (12/12) $5,000

Last App: April 2, 2014
Established Contributor
Pilotdude
Posts: 955
Registered: ‎02-02-2013
0

Re: Whats the magic number of Inquiries for Amex, Discover and Chase...


SnackTrader wrote:
Some anecdotal evidence says that you actually don't want multiple cards reporting balances, Pilotdude. Under many forum members' hypothesis, you should pay off all cards to $0 before the statement date with the exception of one card reporting a small (1-9%) balance. That is for ideal score, since multiple cards reporting balances may impact score.

I was wondering about that too.  Would it be more beneficial for my profile to have one card reporting a balance and the others not for purposes of an app where the apped card issuer might want to try to become the card being used.

 

If i were them, I would.


NFCU #1 Fan!! NO MOAR APPS TIL 10/13 Minimum!!
TU -746, EX - 721, EQ -745
Cards:NFCU Flag Visa Sig $10000, CSP $8500, AMEX BCP $2000 Freedom $3500, Disc IT $5000, Cap 1 Green $2100, Credit 1 CLOSED! AU on Amex Green, Discover $2000, Cap One Plat $1000
New Member
Vasmi
Posts: 4
Registered: ‎02-23-2013
0

Re: Whats the magic number of Inquiries for Amex, Discover and Chase...

New member here!! I just got approved for Amex green with 17 inquiries I got 26 credit cards all 0 balance annual income of 52,000 and can qualify for 5000 spending with them, haven't tried higher been using one week and spent 700 forced bill pay three times for a total of 650.00 brownie points I hope. My Fico equifax is 734 and tu Fico is 688. Hope this helps Leo
Valued Contributor
MovingForward_2012
Posts: 3,406
Registered: ‎12-19-2012
0

Re: Whats the magic number of Inquiries for Amex, Discover and Chase...

I was just approved for Discover It ($1000) and Barclays Rewards ($2500) with the following stats:

Income: 97K
INQs: 5-7
AAOA: 7 years with 4 years of revolving history
Available credit at time of app: $7100
Util: 39%
Cards: Orchard Bank ($1100) | Cap1 Cash Rewards ($2500) | Chase Freedom ($1000) | Best Buy ($2500) | Discover It ($1000) | Barclay Rewards ($2500) | Current scores: EX FAKO: 684, CK TU: 649, FICO EQ: 680, FICO TU: 698, FICO EX: 658 Happy Homeowner Since 2/6/13! :smileyhappy: Last App: 4/5/13 Gardening until July 2014

myFICO is the consumer division of FICO. Since its introduction 20 years ago, the FICO® Score has become a global standard for measuring credit risk in the banking, mortgage, credit card, auto and retail industries. 90 of the top 100 largest U.S. financial institutions use the FICO Score to make consumer credit decisions.

>> About myFICO
FICO Score - The Score that matters
Click to Verify - This site chose VeriSign SSL for secure e-commerce and confidential communications.
Fair Isaac Corporation is a BBB Accredited Financial Service in San Rafael, CA
FOLLOW US Social Media Facebook Twitter Pinterest Google+
}