Credit Card Center Advertiser Disclosure

Reply
New Contributor
Posts: 132
Registered: ‎08-27-2016
0

How many Inq are to many?

How many hard Inquiries are to many for you?, and how many do you have in each report?

 

 

Have a nice day!!


Starting Score: EX: 713 EQ: 698
Current Score: TU: 743 EQ: 748 EX: 740
Goal Score: 775





Valued Contributor
Posts: 2,904
Registered: ‎05-27-2015

Re: How many Inq are to many?

There's no such thing as too many for me.lol
It's more to do with what each lender deems as too many. Unfortunetly no one has that answer.
People get approved with tons of inqs. My inqs are in the signature.

Regular Contributor
Posts: 181
Registered: ‎07-19-2014

Re: How many Inq are to many?

18 inquiries when I was approved for US Bank Cash + last week.  Length of  credit history, income, repayment history and length of residence/job play a bigger role in internal scoring.  A turn down for inquiries, with exception of Chase is usually just an easy excuse. 

Valued Contributor
Posts: 2,667
Registered: ‎03-03-2008

Re: How many Inq are to many?

I've seen people around here sporting 50-100 inq's on each report.  Some under 5 per report.  HP's aren't all that bad once your reports are seasoned a bit more than a bad/rebuild profile.  Of course each approval on the other hand kills your AAOA which does matter more.  Once you stop apping for things and focus more on growing your current lines through CLI's the aging will help bring things back inline with where they're optimal.  Depending on which FAKO site you look at 5 or less seems to be optimal.  Personally since I've been focused on CLI's instead of apps I'm down to 1 on a couple of my reports and have grown in the past 2 years from the low 100k mark to over 200K in CL's.  Scores are now in the 830-840 range across the board.  

 

When I'm apping for things known to have multiple inq's like a car or mortgage I turn on my lazer focus and find the best rate before apping for either of them.  Then zero in on the best terms I can find through websties and phone calls and then pull the trigger for a single inquiry.  i know they say mutliple inq's while rate shopping factor into scoring as a single inquiry but, I'd rather not see them let alone have multiple people accessing my personal information.  I don't trust car dealers with the info since they put it into their system and run it through 10-15 lenders at a time so, I'll get a CU approval and then head into the dealer.  Taking financing off the table leverages power in your favor since you know you're approved already and can walk away at any time during the process.  Lately though it's wortwhile to read through the fine print on dealer financing for the first payment they make on the loan for you and sometimes sub 2% rates they offer to get people in the door.

 

I guess I lost focus... so.... yeah... It's whatever you're comfortable with.

If you're going to whine about it, then you need to do something about it!
If you play the odds on CC's then the rules of Vegas will come into play and the House always wins and you don't own the House
http://ficoforums.myfico.com/t5/Credit-Cards/Discover-unOfficial-Data-Points/td-p/4802538 http://ficoforums.myfico.com/t5/Credit-Cards/AMEX-helpful-links/m-p/4802617 www.depositaccounts.com go under checking / reward checking https://refer.discover.com/s/uya7c https://www.creditscorecard.com/registration
Community Leader
Senior Contributor
Posts: 4,959
Registered: ‎04-27-2014

Re: How many Inq are to many?

13 EX (7 in the last 12 months)

7 EQ (2 in the last 12 months)

5 TU (1 in the last 12 months)

 

Although It has never been an issue... to me, 13 (was 15 last month) is too many.  I'm in slow mode at the moment.  I have opened 1 account and closed 5 in the last 8 months.


Super Contributor
Posts: 5,954
Registered: ‎06-05-2013

Re: How many Inq are to many?


Isacking97 wrote:

How many hard Inquiries are to many for you?, and how many do you have in each report?

 

 

Have a nice day!!


There is no one answer. It depends on the lender and more importantly how thich your credit profile is. For someone starting out 3 inqs can be too many, for someone with a much thicker profile its quite different. 

;
Starting Score: EQ: 714, TU 684
Current Score: EQ: 725 7/30/13, TU 684 6/2013, Exp 826 4/16/17, Last App 5/4/17
Goal Score: 800 (Achieved!) In garden until undecided
Frequent Contributor
Posts: 418
Registered: ‎12-05-2014
0

Re: How many Inq are to many?

[ Edited ]

Experian:  14  Transunion:  6  Equifax:  5

 

I don't know how many are too many.  I continue to get notes on my approvals for adverse factors on my credit score like "Number of requests for new credit.  Number of requests for new credit in the last 3 months lol.  Length of time since the oldest credit card established.  Length of time since the newest revolving account established."  And that's for my newest card the Chase Hyatt which they approved me for $5,000 for the siggy after a 14 days review upon online application.

 

You can see my EX score is lower than the others and the INQs surely play into that.  They continue to note I'm seeking credit and have a short history, but continue to give me cards.  The flip side is that often I'll get low limits and high APRs.  My Hyatt card came with a 23%+ APR.

 

The lenders are doing micro-tuning for everyone's personal situations in order to keep themselves profitable.  So it probably is a case by case basis how many is too many, with people with no baddies and a long history and high income getting a little more leeway when stacking mad INQs, as opposed to a more opaque, younger credit risk.

Experian: 686 Transunion: 720 Equifax: 683
Valued Contributor
Posts: 2,067
Registered: ‎01-10-2016

Re: How many Inq are to many?

I had like 60 on EX and was approved by chase,BofA etc... 50 on TU, really they don't like too many in the last 6 months but if your CR seems good I don't think all lenders mind all that much.
Established Contributor
Posts: 1,034
Registered: ‎03-09-2010
0

Re: How many Inq are to many?


red259 wrote:

Isacking97 wrote:

How many hard Inquiries are to many for you?, and how many do you have in each report?

 

 

Have a nice day!!


There is no one answer. It depends on the lender and more importantly how thich your credit profile is. For someone starting out 3 inqs can be too many, for someone with a much thicker profile its quite different. 


The question is how many are too many for you.  For me I stay under 2 per year per report but I would not hesitate to go over if it was really worth it.  Currently: EQ-1, EX-2, TU-3 (two fall off next month).

Regular Contributor
Posts: 142
Registered: ‎09-12-2016
0

Re: How many Inq are to many?

i have 1 on Transunion. 2 on Equifax. 4 on Experian.

Forums posts are not provided or commissioned by FICO. Forums posts have not been reviewed, approved or otherwise endorsed by FICO. It is not FICO's responsibility to ensure all posts and/or questions are answered.

† Advertiser Disclosure: The listings that appear on myFICO are from companies from which myFICO receives compensation, which may impact how and where products appear on myFICO (including, for example, the order in which they appear). myFICO does not review or include all companies or all available products.
‡ Credit cards for FICO Score ranges: The score ranges are guidelines based on internal myFICO analysis of actual applicant approvals, and having a FICO Score in a particular range does not guarantee you will be approved for credit cards recommended in that range. These ranges were not provided by any card issuer.

* For complete information, see the terms and conditions on the credit card issuer’s website. Once you click apply for this card, you will be directed to the issuer’s website where you may review the terms and conditions of the card before applying. While myFICO always strives to present the most accurate information, we show a summary to help you choose a product, not the full legal terms - and before applying you should understand the full terms of products as stated by the issuer itself.

Copyright ©2001-2015 Fair Isaac Corporation. All rights reserved.   | Terms of Use | Privacy Policy | Sitemap

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.