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how many inquiries arw too many?

Valued Contributor

Re: how many inquiries arw too many?

I've heard the same thing. The range of 0-2, 3-4, 5-6, 7+. It came from Experian. The higher the number equates to higher risk. I have 5 inquiries and will get one more before I close on our house and then I am off to the garden! :-)
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! Smiley Happy Last App: 4/5/13 Gardening until July 2014
Message 31 of 35
Valued Contributor

Re: how many inquiries arw too many?

Looking at my reports from MyFico:

 

Both EQ and Transunion has on the summary page: Amount of new credit:  BAD   (The others are Great, Very Good and Very Good, so this stands out!)

 

and that's based on just 4 INQs!

Message 32 of 35
Super Contributor

Re: how many inquiries arw too many?

Every approval I've ever gotten has always listed the following negatives:

 

1.  Too many inquiries - about 10

2.  Balances too high relative to debt - always less than 10% but greater than 5%

3.  Serious delinquency - was out of the country in 08, and missed 2 or 3 months payments - few hundred dollars

4.  Too few accounts paid as agreed - 10 accounts, guess their going with Credit Karma's 24 as ideal

 

And, this is for approvals from Chase, Citi and Amex respectively with CLs ranging from $10K - $25K.  So, I've always taken their automated reasons with a large grain of salt.

 

To me, it's all rather meaningless.

 

PS - My scores never change - always receive Fico from approvals as being 725 - 730 regardless inquiries or new accounts.

Message 33 of 35
Valued Contributor

Re: how many inquiries arw too many?

Me too. All the new inquiries did not change my score at all. I get a score watch alert for them but the score holds at 703 when my credit is pulled.
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! Smiley Happy Last App: 4/5/13 Gardening until July 2014
Message 34 of 35
Established Contributor

Re: how many inquiries arw too many?

I have 8 +or-inqs in each bureau 4 for the last month, and i got approved for a cap 1 platinium and denied for an amex, the same day. my plan was to get a couple new account, i did, i got two. and now im done and gardening all this 2013.

Amex PRG NPSL, Amex Delta 2k (AU) Discover iT 5k, BOFA Siggy $5k, BOFA AlaskaAir Siggy 5k, BBVA Compass $5k! Macy's $4.5k, C1 $2.5, SFCU $2.5k, SFCU LOC $2k, Paypal SmartC $4k, Sam's 5.5k Victoria Secret $2k, Kay's $1.7k.,76/Citi $1.5k Amazon $5k, Walmart Disco $3k JC Penny $4k, C1 $2.5, BBRZ 700.
Starting:TU:536 EXP:561 : EQ:552 Current:TU:680 Walmart (2-15-14)EXP:712 FICO!! (12-4-13):EQ:622 (FICO 2-6-14) Uti 27% Goal: 720 By 12-13.
Message 35 of 35