04-08-2013 09:53 PM
04-08-2013 10:28 PM
I don't think I am quite where I need to be to even worry about it, but for the (near) future, are there any prime cards, or anybody really, that isn't INQ sensitive? And even though cap 1 isn't the best cc co, is there a limit on how many cards you can have with them? I do their prequalifier almost every day and I'm never prequalified. I have two cards with them, one secured for $201 and one unsecured for $750, and AU on my husband's for $300.
literally ALL prime lenders are inquiry sensitive. It just depends on what your overall CR looks like as well. If you have really high AAoA, long account history and other factors that might sweeten the pot, they might overlook the fact that your inquiries are on the high side. It's hard to give you an exact number of inquiries that is considered high. It can be 4 in 12 months for some people, it can be 10 for some others, etc etc.
Also, it depends on what those inquiries were for. if they were for rate shopping for auto/mortage loans, FICO scoring classifies them as 1 inquiry, and it's much easier for you to explain it to a human being who's reviewing your application.
04-08-2013 10:32 PM
thats A LOT of inquiries. were they all made in 1 year, or 2 years? How many cars did you buy?
04-08-2013 10:39 PM
04-08-2013 10:51 PM
if they were done over a short timeframe, they count as 1 inquiry for calculating your score, but lenders will still see and regard each inquiry as a separate one. Sometimes when you call recon, an UW might be more forgiving about the # of inquiries but I think the amount you have is way too much.
I would recommend you wait until they age past 1 year at the very least, preferably wait till they fall off completely if possible.
04-08-2013 10:51 PM
04-08-2013 10:56 PM
04-08-2013 10:58 PM
04-08-2013 11:00 PM
IMPORTANT INFORMATION: All FICO® Score products made available on myFICO.com include a FICO® Score 8, along with additional FICO® Score versions. Your lender or insurer may use a different FICO® Score than the versions you receive from myFICO, or another type of credit score altogether. Learn more
FICO, myFICO, Score Watch, The score lenders use, and The Score That Matters are trademarks or registered trademarks of Fair Isaac Corporation. Equifax Credit Report is a trademark of Equifax, Inc. and its affiliated companies. Many factors affect your FICO Score and the interest rates you may receive. Fair Isaac is not a credit repair organization as defined under federal or state law, including the Credit Repair Organizations Act. Fair Isaac does not provide "credit repair" services or advice or assistance regarding "rebuilding" or "improving" your credit record, credit history or credit rating. FTC's website on credit.