New Member
matthew94515
Posts: 1
Registered: ‎10-14-2007
Re: How many inquiries is too much?

I never ever ever coment at forums- simply too busy. However, this is exactly right!! This person is spot on- you will get denied a credit card EVEN if you have a 760 FICO, but have maybe 3-4 inquiries in 3 months or so. It happened to me in 2008. CC companies are jerks about this!

Established Contributor
zerobacan
Posts: 726
Registered: ‎01-13-2013
Re: How many inquiries is too much?

matthew94515 wrote:

I never ever ever coment at forums- simply too busy. However, this is exactly right!! This person is spot on- you will get denied a credit card EVEN if you have a 760 FICO, but have maybe 3-4 inquiries in 3 months or so. It happened to me in 2008. CC companies are jerks about this!


Welcome to writing in the forums!!! hehehe

 

I have 17 inq and Im still getting approved, $700 for amazon yesterday :smileyvery-happy:

Amex PRG NPSL, Amex Delta 2k (AU) Discover iT 5k, BOFA Siggy $5k, BOFA AlaskaAir Siggy 5k, BBVA Compass $5k! Macy's $4.5k, C1 $2.5, SFCU $2.5k, SFCU LOC $2k, Paypal SmartC $4k, Sam's 5.5k Victoria Secret $2k, Kay's $1.7k.,76/Citi $1.5k Amazon $5k, Walmart Disco $3k JC Penny $4k, C1 $2.5, BBRZ 700.
Starting:TU:536 EXP:561 : EQ:552 Current:TU:680 Walmart (2-15-14)EXP:712 FICO!! (12-4-13):EQ:622 (FICO 2-6-14) Uti 27% Goal: 720 By 12-13.
Established Member
mikey4833
Posts: 90
Registered: ‎01-26-2013
Re: How many inquiries is too much?

I have 43 inquiries on Equifax and my Fico is 635 and 13 opened accounts in 1 year with 3-1/2 year old bankruptcy and I just got a $4,000 Sears Platinum MasterCard hows that work? My other Fico score is 676 at Transunion and I have 31 inq over there and Experian I don't know my Fico score. But Citi/Sears Card pulled Experian then TU 1 week after I got the card no idea why. I called them and asked if they made a mistake. They didn't they said its suited to my particular credit situation... Thank you Sears compared to $750 credit limits from Capital One. I'm done applying for credit of any kind and I'm paying all accounts off in full I have 11 open cards, 5 Major cards counting Sears MC and Capital Ones. I did lose a $500 Barclays Card over too many credit inq. They approved me with way too many to begin with then even with 5 payments in full in one month they closed it. Then I got Sears. Their loss. But way too many inquiries is trouble these companies seem to be looking at not just your credit score anymore but their own criteria they use. Chase told me they don't use credit scores.. I said what do you use they said their own reasoning. If that is true I don't know you call these places and get a different story from each different person.


Starting Score: TU:599 EXP: 596 EQ: 595 Starting Year 2009
Current Score: TU:715 (685 FAKO) EXP:647 (673 FAKO) EQX: 637 (FAKO 615) - All on 04/24/13 In the garden until 05/2014 because too many inq and low AAoA 1.4 mo. My BK chap 7 will be 4 yrs old July 2013
Goal Score: 760+ across the board by next year July 2014 5 yrs after BK


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New Visitor
Etoainshrdlu
Posts: 1
Registered: ‎08-02-2013
Re: How many inquiries is too much?

What about the same credit company pulling your report 2-3 times over several days from the same bureau? What is the impact on your score then?

Moderator Emeritus
llecs
Posts: 32,880
Registered: ‎08-04-2007
Re: How many inquiries is too much?

Etoainshrdlu wrote:

What about the same credit company pulling your report 2-3 times over several days from the same bureau? What is the impact on your score then?


If those inquiries from the same company are not coded as mortgage, auto loan, or student loan inquiries, then each will be scored as an individual inquiry and not lumped together. Impact to your score can vary. Most of my inquiries resulted in no FICO change when comparing a new FICO report the day before the pull and the day after. Of those that did, usually just one would ding a few points and the rest less than that. It's a YMMV-thing per person. Everyone's credit profile is different.

 

It's not that common for the same lender to pull that many times over a short period. If these were non-duplicatable inquiries (car, mortgage, SL), then you can always try asking them to see if they wouldn't mind removing one or two. They don't have to, but couldn't hurt to ask I suppose. I started a banking relationship with BofA to get a secured CC and that resulted in 6 individual inquiries over the course of 3 weeks. One was for the checking acct, one for savings, 2 were for two indiviual CC apps and when denied, they offered two 99/500 partially secured CCs and I applied for both. 6 inquiries in all and they wouldn't give the time of day to remove them (all were legit inquiries).

Established Member
MindKntrl
Posts: 31
Registered: ‎03-19-2013
Re: How many inquiries is too much?

What I find interesting is that I've been shopping for a home for maybe 4 months (since late March), and my mortgage lender (and underwriters) have me dealing with all these requirements..  I found a home, and was going through the closing process, but it didn't appraise, so long story short - I walked away..   During this time, they have ran my credit maybe 4 times (since late March), and it's showing up each time, a new Inq.   It hasn't negatively affected my credit, in fact, I am getting slight bumps every time they run it..  I can't figure out for the LIFE of me why.

When I get the FICO Score Alert, and check, it shows slight 4-5 point bumps UPWARD.  The reason shows as:

'Your FICO score may have gone up because the following factor is not hurting your FICO score as much as before:

  • You've recently been looking for credit.'

Is this accurate?  Should I get a BUMP UP on my score just because the mortgage lender checks my credit?    This score alert I got today shot me up a full 7 points..

Not that I'm mad about that!  LOL

Moderator
Shogun
Posts: 12,890
Registered: ‎04-15-2011
Re: How many inquiries is too much?

That's a new one on me!!!!!!


Starting Score: 504

July 2013 score: EQ FICO 819, TU08 778, EX "806 lender pull 07/26/2013
Goal Score: All Scores 760+, Newest goal 800+

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Current scores after adding $81K in CLs and 2 new cars since July 2013
EQ:809 TU 777 EX 790 Now it's just garden time!
Established Member
MindKntrl
Posts: 31
Registered: ‎03-19-2013
Re: How many inquiries is too much?
Threw me for a loop also. It literally bumps up every time I get an inquiry from either Equifax Mortgage Service or Bank of America/Landsafe..

The last time I applied for credit was early last year when I got a CapOne secured card, which I've had since and have used sparingly, paying off the full balance a day or 2 after use and never letting it report a balance (which is bad, I hear)... I guess they WANT me to get more stuff...

This is so confusing...
Moderator
Shogun
Posts: 12,890
Registered: ‎04-15-2011
Re: How many inquiries is too much?

If that was the case, I'd go to every car lot in town and have them shotgun out my apps.  LOL....

 

But seriously, just let those scores go up, grow your garden well.


Starting Score: 504

July 2013 score: EQ FICO 819, TU08 778, EX "806 lender pull 07/26/2013
Goal Score: All Scores 760+, Newest goal 800+

Take the myFICO Fitness Challenge

Current scores after adding $81K in CLs and 2 new cars since July 2013
EQ:809 TU 777 EX 790 Now it's just garden time!
Frequent Contributor
Kratos-TM
Posts: 426
Registered: ‎05-23-2013
Re: How many inquiries is too much?

Ok, someone threw this point out there, but the answer never got solidified........Does the ding from the inquiry have the same weight at the 11 month mark as it does at the 1 month mark?

Myfico scores.....
EX08... 800 (11-10-13)
EQ04... 790 (12-02-13)
TU08... 810 (12-02-13)