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How many inquiries is too many...

Valued Member

How many inquiries is too many...

in 6 month span?

 

6 too high? 7? 




5 REPLIES
Regular Contributor

Re: How many inquiries is too many...

There is the 5/24 rule, meaning that most prime lenders will only like to see 5 new accounts opened in the last 24 months. So depending on how many inquiries are approvals could affect that. I also know that according to CreditKarma, anything above 9 inquiries is considered very poor  and you should try to keep your inquiries under that for a two year span. The less you have the better!

Senior Contributor

Re: How many inquiries is too many...

How many is too many is completely dependent on the profile. For somebody with a thin file and a short AAoA, 3 might be too many. For somebody with a thick file and a long AAoA, 20 might not even be a problem.


Gardening until tomorrow.
Community Leader
Valued Contributor

Re: How many inquiries is too many...


CAPTOOL wrote:

How many is too many is completely dependent on the profile. For somebody with a thin file and a short AAoA, 3 might be too many. For somebody with a thick file and a long AAoA, 20 might not even be a problem.


Agreed.  I have 50+ across all three bureau's.  

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Senior Contributor

Re: How many inquiries is too many...


CAPTOOL wrote:

How many is too many is completely dependent on the profile. 


This.  It's never just about the one factor on its own.  One's entire credit profile always matters.

Highlighted
Regular Contributor

Re: How many inquiries is too many...

You just have to start somewhere when you have nothing. One might be enough for one person and 12 might be the right number for the next. Eventually, those inquiries will fall off after 2 years. I know as a young person who's just starting out in the credit world, you could potentially chase after the constant approvals of credit cards one after another but eventually, you'll run out of cards to app for. Eventually. Anyways, 6 or 7 is fine. Just wait till your AAOA to grow and then you can go on an app spree again if you want! Cheers.