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Frequent Contributor
jdirilo
Posts: 331
Registered: ‎08-27-2012
0

any cc's not inq sensitive?

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.
Super Contributor
enharu
Posts: 6,889
Registered: ‎02-27-2013
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Re: any cc's not inq sensitive?


jdirilo wrote:
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.

 

JPMorgan Palladium (100k), AmEx Platinum (NPSL), AmEx SPG (46k), AmEx BCP (42k), Chase Sapphire Preferred (47k), Citi Prestige (31k), Citi Thank You Preferred (27k), Citi Executive AAdvantage (25k), JPMorgan Ritz-Carlton (21k), Merrill+ (15k), US Bank Cash+ (22.5k), Wells Fargo (12k), Bloomingdale’s (12.4k), Chase Freedom (5k), Discover IT (5k).
Frequent Contributor
jdirilo
Posts: 331
Registered: ‎08-27-2012
0

Re: any cc's not inq sensitive?

Yeah...I have about 30-40 on each from car shopping...
Super Contributor
enharu
Posts: 6,889
Registered: ‎02-27-2013
0

Re: any cc's not inq sensitive?

thats A LOT of inquiries. were they all made in 1 year, or 2 years? How many cars did you buy? :smileysurprised:

 

JPMorgan Palladium (100k), AmEx Platinum (NPSL), AmEx SPG (46k), AmEx BCP (42k), Chase Sapphire Preferred (47k), Citi Prestige (31k), Citi Thank You Preferred (27k), Citi Executive AAdvantage (25k), JPMorgan Ritz-Carlton (21k), Merrill+ (15k), US Bank Cash+ (22.5k), Wells Fargo (12k), Bloomingdale’s (12.4k), Chase Freedom (5k), Discover IT (5k).
Frequent Contributor
jdirilo
Posts: 331
Registered: ‎08-27-2012
0

Re: any cc's not inq sensitive?

They were mostly in the past 6 months. I ended up refinancing one car, trading it later, tried to trade our other car(actually did trade it at 3 diff dealers, hence all the inqs because they all said we were approved, traded our car, and two weeks later made us take it back because after submitting our app to every lender on planet earth we got denied) so I ended up refinancing last month. My bad for trying to get approved after all that crap. I don't know how many of them factor into my fico since I know that if they weredone within a certain time frame it out counts as one INQ, but still shows on my reports.
Super Contributor
enharu
Posts: 6,889
Registered: ‎02-27-2013
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Re: any cc's not inq sensitive?

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.

 

JPMorgan Palladium (100k), AmEx Platinum (NPSL), AmEx SPG (46k), AmEx BCP (42k), Chase Sapphire Preferred (47k), Citi Prestige (31k), Citi Thank You Preferred (27k), Citi Executive AAdvantage (25k), JPMorgan Ritz-Carlton (21k), Merrill+ (15k), US Bank Cash+ (22.5k), Wells Fargo (12k), Bloomingdale’s (12.4k), Chase Freedom (5k), Discover IT (5k).
Moderator
09Lexie
Posts: 24,904
Registered: ‎09-13-2012
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Re: any cc's not inq sensitive?

You need to wait and let those inq's age. Not knowing the rest of your profile but it sounds like your credit needs to take a break.

Good luck.
Frequent Contributor
jdirilo
Posts: 331
Registered: ‎08-27-2012
0

Re: any cc's not inq sensitive?

My credit has improved a lot recently, despite the inqs. My eq fico has jumped almost 100pts in just a month, and next month it will be even higher once I bring my util down. I think its about 50% now. The only really bad stuff on my reports are the inqs and a bk ch 7 from 09. A few late payments from like 06-07. I don't think those are hurting me anymore. Two $75 medical collections, one paid. And on EQ & ex I have a chargeoff from univ of phx for $2200 now 4 yrs old. Other than that, I have a good mix of positive credit including two auto loans, four cc's, one store card, and several deferred student loans.
Frequent Contributor
jdirilo
Posts: 331
Registered: ‎08-27-2012
0

Re: any cc's not inq sensitive?

But I don't disagree with your advice at all. My credit needs a serious break. I need to learn how to garden! I don't NEED any new credit now anyway. Don't qualify for a mortgage yet so that's out od the question, and won't need a new car for awhile either. So yeah, I should chill. Especially after repeatedly getting denied for a cli from nfcu(after they approved two in a ROW). No more greediness. Thanks for the wake up call!
Frequent Contributor
jdirilo
Posts: 331
Registered: ‎08-27-2012
0

Re: any cc's not inq sensitive?

On a side note, I partially blame these forums for even giving me thoughts of wanting to apply for credit! I see so many exciting approvals I think I am credit worthy too, but I've got a loooong way to go :smileyhappy:

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