topic Re: New Accounts and Inquries - Denied in Credit Card Applications

New Accounts and Inquries - Denied

TheBoondocks — Sun, 11 Mar 2018 15:19:46 GMT

Hey guys, so before I went on a credit card app spree my previous credit card was in May of 2017, I didn't apply for credit cards until Jan of this year but one credit card rep told me that I had 3 I guess within the last 6 months or so. It sounds about right. It's tricky cause some will want to see how many cards you had in the past 6 months or year.

I got denied due to new accounts, so when I do reapply or apply for a new credit card just to make sure it doesn't show on the reasons of denial that, I should apply after the 6 months but you can't tell right?

Also, if I reapply from the same issuer, would it be a result of a double hard inquiry or it will be look at as 1 inquiry regardless of when I reapply for? Thanks!

Re: New Accounts and Inquries - Denied

jamie123 — Sun, 11 Mar 2018 15:35:11 GMT

You want to get at least 3 cards as soon as possible and then stop apping for 6 months to a year. You generally need 1 year of history managing at least 2 cards to be able to qualify for the top tier cards.

Everytime you app it will create an HP. No, the one from 6 months ago won't be used in any new app from that lender.

Re: New Accounts and Inquries - Denied

Anonymous — Sun, 11 Mar 2018 15:35:38 GMT

Hi. If you wait at least 6 months you should be able to get the card, assuming everything else in your profile stays good. Some lenders may want 1 year. They will still see the account and when it was opened, but will not weigh it so heavily as a "new" acocunt.

There are some lenders who will use the same pull for up to 90 days. I don't know of any that will use the same pull for 6 months.

If you tell us what lender you are trying to get in with, the nice gurus here could give you more specific advice for what that lender wants.

Re: New Accounts and Inquries - Denied

TheBoondocks — Sun, 11 Mar 2018 18:20:30 GMT

Thank you guys for the information, it makes sense! Just trying to get the Discover card, it seems like they are sensitive. But that's about it for now, eventually gonna want to buy a house so need to stop having inquiries lol.

Re: New Accounts and Inquries - Denied

Anonymous — Mon, 12 Mar 2018 06:00:07 GMT

@TheBoondockswrote:
Thank you guys for the information, it makes sense! Just trying to get the Discover card, it seems like they are sensitive. But that's about it for now, eventually gonna want to buy a house so need to stop having inquiries lol.

Disco, Will show luv but as with any date things need to be a lil more established give some more time.