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I want to apply for the Marriott Rewards Premier Visa Sig card; however, afraid I have too many inquires and new open accounts. How many are too many and should I wait until some fall off. Do I have high enough credit scores to apply or could my recent open accounts impact my approval. 5 (2 not showing yet) new accounts in last 2 months.
Below are my current credits scores, INQ's and approval/denials.
EQUIFAX 719 (FICO counting 2 INQ's):
June 05, 2013 Roadloans (approved - didn't open)
May 05, 2013 Roadloans (approved - didn't open)
EXPERIAN - 693 (FICO counting as 5 INQ's although 2 car loans were same date):
March 28, 2014 Amex (Opened 2 new charge cards NPSL - may cancel one)
November 04, 2013 Fia Cs (denied Fidelity Amex - reason: not enough revolving accounts)
June 18, 2013 Bmw Financial Services (denied car loan)
June 18, 2013 Credco (dealership pull for BMW - not sure why both are showing)
May 05, 2013 700 Credit/Northstar A (never pursued)
TRANSUNION 666 (FICO counting as 8 INQ's although some car loans are same date):
February 14, 2014 Corp America Family Cu ( 3 new accts: refinanced car, new cc & Pers Loan)
November 05, 2013 Fia Card Services (denied fidelity amex)
June 18, 2013 Td Auto Finance (denied)
June 18, 2013 Bmwofcapecod/Credcoims (dealership pull for BMW credit serv -denied)
June 18, 2013 Wells Fargo Dir Svc/Wach (Approved -Car loaned opened w/horrible interest rate)
June 18, 2013 Americredit (didn't pursue)
May 06, 2013 Corp America Family Cu (denied)
May 05, 2013 Northstaraut/Northstarau (didn't pursue)
My mistake was shopping for a car in 2013 when my credit score was in the high 500's at best and doing it 2 separate months. Didn't know any better (WHEN YOU KNOW BETTER YOU DO BETTER) Started working on my credit in 7/2013 and improved my score into high 600's low 700's since then. No lates/derogs in 12 months. Mix of credit includes mortgage, student loans, 3 credit cards (showing now) total $4500 CL/1% util and 1 car loan.
I know this is a lot of information but what are your thoughts? Should I wait since I have several new open accounts or do it now so the accounts can age together?
Want the card for travel rewards.
You should probably wait at least 6 months.
There's no X for everyone. "Too many" is however many prevent you from getting an approval. However that's affected by one's credit. A thicker credit profile will generally absorb more inquiries without as much affect as a thinner one. It's also affected by a creditor's underwriting critiera. Some are more sensitive to inquiries than others.