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Regular Contributor
Posts: 183
Registered: ‎04-17-2007

How many inquiries is too much?

I haven't applied for a credit card since last july.  Are two inquiries this year too much?
Moderator Emeritus
Posts: 6,182
Registered: ‎03-29-2007
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Re: How many inquiries is too much?

No.. and only INQs in the last 12 months go against your score. The previous 6 months hold the most weight.
Valued Member
Posts: 39
Registered: ‎04-29-2007
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Re: How many inquiries is too much?

Its states on my score watch alert that
"New inquiries on a credit report may lower the FICO score by a modest amount. Multiple inquiries can lower the score a little more than a single inquiry. But note that multiple inquiries within a two-week period are treated as a single inquiry."

So If I am shopping for new credit cards should I do it within the 2 week period and
is this true for all the 3 CRAs
Moderator Emeritus
Posts: 6,182
Registered: ‎03-29-2007

Re: How many inquiries is too much?



inzaghi wrote:
Its states on my score watch alert that
"New inquiries on a credit report may lower the FICO score by a modest amount. Multiple inquiries can lower the score a little more than a single inquiry. But note that multiple inquiries within a two-week period are treated as a single inquiry."

So If I am shopping for new credit cards should I do it within the 2 week period and
is this true for all the 3 CRAs

The two week rule only applies to auto and home inqs.. NOT CCs!
 
And to correct my previous statement.. 12 month old inqs hold the same weight as 6 months old inqs.
Senior Contributor
Posts: 3,071
Registered: ‎05-17-2007
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Re: How many inquiries is too much?

I have over 12 inquiries with in 6 months and started to get turned down by most. I'd say 12 is too much. When I had less than 6 I didn't have any problems.
If we never set higher goals we would never get as far.
sol, credit 101, acr, abbreviations, calc
Moderator Emeritus
Posts: 16,383
Registered: ‎03-12-2007
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Re: How many inquiries is too much?

I have over 113 inquiries with scores in high 700's...Just kidding!!Smiley Surprised
Credit Profile -
FICO 08 Scores (03-26-2015): EQ 814, EX 817, TU 822
All three scores were 850. Lost points for not having an open installment TL. So, BE WARNED!!!!!
Credit History: 26 years ~ AAoA: 13 years ~ Util: 1% ~ Inqs: EX 1, EQ 1

Credit Cards: Amex BCP ~ Amex Clear ~ Amex Platinum ~ Barclay Ring Mastercard ~ Chase Freedom Visa ~ CITI Dividend Platinum World Mastercard ~ FIA Fidelity Investment Platinum Visa ~ First Hawaiian Bank Gold Visa
Super Contributor
Posts: 8,195
Registered: ‎03-25-2007
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Re: How many inquiries is too much?



ilovepizza wrote:
I have over 12 inquiries with in 6 months and started to get turned down by most. I'd say 12 is too much. When I had less than 6 I didn't have any problems.

They seem to think more than two in 12 months is too many, even if one is for a cell phone  Smiley Sad
The slide from grace is really more like gliding
And I've found the trick is not to stop the sliding
But to find a graceful way of staying slid
New Member
Posts: 7
Registered: ‎06-01-2007
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Re: How many inquiries is too much?

Here's something I learned and will be careful of next time. My husband and I just recently bought a new car. I did not know that the finance manager had ran credit checks with alot of banks just to get a great interest rate. A month later I went to apply for a CC to roll my other two credit cards into one to make payments easier. I was turned dow because there were too many inquires on my credit report. We got a good interest rate, but be careful when you go to by a new car. I had my credit report on private so I could stop getting all those stupid credit card offers in the mail. I think banks should pay a fee to run a credit check.
Moderator Emeritus
Posts: 6,182
Registered: ‎03-29-2007
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Re: How many inquiries is too much?

 Many consumers get confused on auto and home inqs.. Most are under the impression that endlessly shopping around for 14 days won't hurt you..NOT TRUE.  While FICO only calculates these Inqs as one.. EACH Inq still shows up and increases your overall Inq count. Thus, hurting you in a manual review or an automated approval system that checks Inq count.
New Member
Posts: 3
Registered: ‎05-20-2007
0

Re: How many inquiries is too much?

From what I know a inquirey is only like 2 points so you would need quite a few. Six a year is viewed as average. Ten or more excessive.
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