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100 Apps in a day

Frequent Contributor

Re: 100 Apps in a day

Based on various posts I've read along with scores shown in poster's sigs, I'd guess your FICO 8 scores would drop to the low 700s from the HPs alone. Follow-through and open a bunch of new accounts, my guess is it would drop to the high 600s. Big drop from 800s, but high 600s is not a showstopper in and of itself, and would rapidly climb back over 700 in short order.

 

The bigger issue would be the reaction of the card issuers you currently have accounts with. Seeking income verification / tax records, dropping credit limits, and outright closures. Not all card issuers would panic, so one likely wouldn't lose all their credit lines, but figure on taking a hit for awhile until the HPs / new accounts aged.

 

A less risky approach, for those with the urge, is to apply for a bunch of new cards via the shopping cart trick, which are usually SPs.

Starting Score Mar-15: EX-513, TU-507, EQ-510
Current Score Oct-15: EX-658, TU-631, EQ-628
Valued Contributor

Re: 100 Apps in a day

I remember awhile back somebody posted an insane app spree, I don't remember the user name but it was crazy, like 50-60+ apps.  After a ton of apps I remember that the approved credit lines started to get tiny. 

Gardening until September 2018
Next app: Mortgage in September 2018
Super Contributor

Re: 100 Apps in a day

You probably wouldn't be getting approved after the first several because the companies would start to see the pulls. Noawadays the pulls are reported more or less instantly so spreeing isn't as a relevant. The only advantage is the inquiries aging together but that only matters if you plan to continuously apply for things.

 

I've seen people do a LOT of cards at once but it was typically low limit store cards that pretty much you will get approved for no matter what.

Frequent Contributor

Re: 100 Apps in a day

I'm not sure about in a day, but I did 97 apps in 2 months between 3 bureaus, 39 EX, 33 TU and 25 EQ. My denial letters has been "EXCESSIVE in bold/caps INQUIRIES from different creditors"... Actually the last 10 has been that denial reason Smiley Happy

 

Everyone here is correct, it has diminishing effect, I think I lost about 20 points total with EX, 23 with TU and maybe 19 with EQ. But it's so hard to gauge because my credit keeps "trying" to improve but then I hit it with inquiries or new accounts... then I dont know again which one hurts my score Smiley Happy

 

My most drop was when I paid off all cards, but also added another 3-4 inquiries and 2 new accounts.... I dropped another 19-24 points between EX and EQ. Again not sure if that's from inquiries....

 

Anyway, I just froze all my report so I can stop my madness with apping. This is trully CAN be addictive!

FICO 8: 1/1/16 / 12/30/2016 [EQ: 518/681] [TU:522/714] [EX: 535/689] TCL: $108K INQ: 138 between the 3 NO MO CARD FOR ME

Valued Contributor

Re: 100 Apps in a day


mco7816 wrote:

I'm not sure about in a day, but I did 97 apps in 2 months between 3 bureaus, 39 EX, 33 TU and 25 EQ. My denial letters has been "EXCESSIVE in bold/caps INQUIRIES from different creditors"... Actually the last 10 has been that denial reason Smiley Happy

 

Everyone here is correct, it has diminishing effect, I think I lost about 20 points total with EX, 23 with TU and maybe 19 with EQ. But it's so hard to gauge because my credit keeps "trying" to improve but then I hit it with inquiries or new accounts... then I dont know again which one hurts my score Smiley Happy

 

My most drop was when I paid off all cards, but also added another 3-4 inquiries and 2 new accounts.... I dropped another 19-24 points between EX and EQ. Again not sure if that's from inquiries....

 

Anyway, I just froze all my report so I can stop my madness with apping. This is trully CAN be addictive!


What got me thinking about this was that in about a months time I had about 5 hp's, 1 was an auto loan (which was not for me, but a family member) 2 were citi dc app and cli, and 2 other card apps. This was an insane number of hp's for me. I braced myself for a massive score tumble...which never came. One of my scores actually went up. So this got me wondering...are hp's really worth worrying about? What if I had 100 in a day?????




TU fico08=820 11/10/17
EX fico08=812 10/25/17
EQ fico08=818 10/25/17
Garden since 4/5/2017
Regular Contributor

Re: 100 Apps in a day



What got me thinking about this was that in about a months time I had about 5 hp's, 1 was an auto loan (which was not for me, but a family member) 2 were citi dc app and cli, and 2 other card apps. This was an insane number of hp's for me. I braced myself for a massive score tumble...which never came. One of my scores actually went up. So this got me wondering...are hp's really worth worrying about? What if I had 100 in a day?????


Not really, unless you're going to be looking for credit that you really need for the next two years such as financing for a vehicle or house.  Now if you have 100 inquiries, like others said, you might run into some adverse action but if you take all that into consideration and you're comfortable with all that, then no, they are not worth worrying about.  I have found that some people on here blow them out of proportion.  And if you're approved, they're even less of a concern because the pros of having an account that you can use to build your scores are much more important.

19 |
Community Leader
Super Contributor

Re: 100 Apps in a day


sarge12 wrote:

My fico 08 scores are all over 800 and I've always been concerned about how a hp makes my score go down. This is fairly common on these boards, but I've always wondered if I fill out 100 apps in a day...how much would my score actually drop? Does anyone know anyone who has tried it? I really am kind of tempted just to find out.


Perhaps, you can honor us by being the first to try it and report back with results so that we can disect and analyze this very important thesis.  Thank you in advance for taking up this very important cause.

Valued Contributor

Re: 100 Apps in a day

You only need to apply for 34 Capital One accounts 100 applications is way too many, even with autofill
Open one, close three. Open one, close three.
Valued Contributor

Re: 100 Apps in a day


Yes-Its-Me wrote:

sarge12 wrote:

My fico 08 scores are all over 800 and I've always been concerned about how a hp makes my score go down. This is fairly common on these boards, but I've always wondered if I fill out 100 apps in a day...how much would my score actually drop? Does anyone know anyone who has tried it? I really am kind of tempted just to find out.


Perhaps, you can honor us by being the first to try it and report back with results so that we can disect and analyzing this very important thesis.  Thank you in advance for taking up this very important cause.


My disire to obtain the knowledge of the effects of doing something this blatently stupid is exceeded by my sense of self preservation!!! Sorry!




TU fico08=820 11/10/17
EX fico08=812 10/25/17
EQ fico08=818 10/25/17
Garden since 4/5/2017
Community Leader
Super Contributor

Re: 100 Apps in a day


sarge12 wrote:

Yes-Its-Me wrote:

sarge12 wrote:

My fico 08 scores are all over 800 and I've always been concerned about how a hp makes my score go down. This is fairly common on these boards, but I've always wondered if I fill out 100 apps in a day...how much would my score actually drop? Does anyone know anyone who has tried it? I really am kind of tempted just to find out.


Perhaps, you can honor us by being the first to try it and report back with results so that we can disect and analyzing this very important thesis.  Thank you in advance for taking up this very important cause.


My disire to obtain the knowledge of the effects of doing something this blatently stupid is exceeded by my sense of self preservation!!! Sorry!


Exactly the response I expected.  So my question to you is, why even asked this question in the first place if you consider it stupid.  You asked in your post " has anyone tried it"?  So if someone had responded and said yes, I did it. What would have been your response?

 

I am curious to know.