topic Re: How many inquiries is too many? in Credit Card Applications

How many inquiries is too many?

Anonymous — Mon, 20 Jul 2020 22:51:27 GMT

Is 10 too many to get approved?

Re: How many inquiries is too many?

coldfusion — Mon, 20 Jul 2020 22:54:56 GMT

@Anonymous wrote:
Is 10 too many to get approved?

There are so many factors involved that it's impossible to give a reliable blanket answer beyond "it depends".

If the question you really want to ask is "is 10 inquiries too many for me to get approved" we may be able to give feedback if you give us more information, like which CRA are you talking about, when were these inquiries made, were any of them for auto loans or mortgages, what card or cards are you thinking of applying for, for starters.

Re: How many inquiries is too many?

Anonymous — Mon, 20 Jul 2020 23:11:25 GMT

@coldfusion thank you for your reply!
I am trying to apply for either care credit synchrony or Alphaeon comenity credit cards.
my FICO is above 700 across all three. With
10 percent utilization.
10 inquiries ex , 8 inquiries TU and 6 inquiries eq. Only three inquires are not from the past 24 months.

I recently just co signed on an auto loan in April and opened a credit first credit card for Evans tires.
the other inquirys were to refinance my other auto loan and some other credit cards I got denied for back when my credit was below 600.

Re: How many inquiries is too many?

Brian_Earl_Spilner — Tue, 21 Jul 2020 00:15:56 GMT

Might be too many for sync.

Re: How many inquiries is too many?

Anonymous — Tue, 21 Jul 2020 00:44:01 GMT

@Anonymous wrote:
@coldfusion thank you for your reply!
I am trying to apply for either care credit synchrony or Alphaeon comenity credit cards.
my FICO is above 700 across all three. With
10 percent utilization.
10 inquiries ex , 8 inquiries TU and 6 inquiries eq. Only three inquires are not from the past 24 months.
I recently just co signed on an auto loan in April and opened a credit first credit card for Evans tires.
the other inquirys were to refinance my other auto loan and some other credit cards I got denied for back when my credit was below 600.

@Anonymous what do you mean three were not from the last 24 months? And how many in the last 12 months and be specific about the dates and their purposes because some of those will be scored as one potentially.

Re: How many inquiries is too many?

Anonymous — Tue, 21 Jul 2020 01:38:34 GMT

@Anonymous Oh im sorry I meant last 12 months not 24.

I will explain more whats on my Experian.

2 inq for refinance auto (denied when my score was below 600 w/ high util) June 11 2020

2 inq for Cosign auto April 9 2020

1 inq sterling jew (denied when score was below 600 w/ high utli) April 1, 2020

1 inq cap one walmart - approved Nov 2019

1 inq cap one - approved Dec 2019

1 inq amazon - (denied when score was below 600 w/ high utli) September 2019

1 inq USAA0- Denied Aug 27 2019

1 inq- recent inquiry that the co-sign dealership did after we got approved for some reason? on may 6 2020

My total credit limit overall is 14,100 of which I currently have a 10 % utli and above 700 on all credit Bureus as well as excellent payment history and no baddies.

Re: How many inquiries is too many?

Anonymous — Tue, 21 Jul 2020 02:39:06 GMT

The three from April and May should be grouped together as one for scoring purposes; the two in June should also be grouped together as one for scoring purposes this is called de-duplication.

That’s of course assuming they were on the same bureau. If they were on different bureaus then of course they have an effect at each bureau. Hope that helps. So that’s how the fico scoring algorithm counts it when it’s penalising you for the inquiries.

Re: How many inquiries is too many?

morgacj2004 — Tue, 21 Jul 2020 02:44:07 GMT

It all depends. Barclays Chase Cap One are very sensitive while other lenders not so much. There are people on this forum with 30-40+ inqxwho are still getting approved so it is really up to you. What specific product are you looking etc etc.

Re: How many inquiries is too many?

Meanmchine — Tue, 21 Jul 2020 03:20:24 GMT

Do a search on the card you want to apply for and see what others

Good luck

Re: How many inquiries is too many?

M_Smart007 — Tue, 21 Jul 2020 17:31:53 GMT

@Meanmchine wrote:
Do a search on the card you want to apply for and see what others
Good luck

"Do a search on the card you want to apply for and see what others" Think?

Re: How many inquiries is too many?

Anonymous — Tue, 21 Jul 2020 20:22:02 GMT

@Anonymous but remember that makes those count as one scorewise if they were coded correctly and also keep in mind that some credit card companies when you apply, not only does their computer seek a score, but it reads your credit report data.

If it sees too many inquiries it automatically denies you, like US Bank. Lol. In those situations, you can call in sometimes and point out that those were due to rate shopping and then on manual review sometimes they will then be approved, but there is no recon for some issuers, so for those you don't even get a second bite at the apple, like Capital One. In those situations the number of inquiries just causes a denial and there's nothing you can do about it.

But at the same time, I don't know how good manual review would be considering the number of inquiries you have from different credit seeking events anyway.

Re: How many inquiries is too many?

coldfusion — Tue, 21 Jul 2020 21:12:50 GMT

@Anonymous wrote:

But at the same time, I don't know how good manual review would be considering the number of inquiries you have from different credit seeking events anyway.

OP might have a bit of luck but I think we're on the same page - the profile at this point is unfortunately too weak to have a good chance of success.

Re: How many inquiries is too many?

Meanmchine — Wed, 22 Jul 2020 00:25:21 GMT

@M_Smart007 wrote:
@Meanmchine wrote:
Do a search on the card you want to apply for and see what others
Good luck
"Do a search on the card you want to apply for and see what others" Think?

oopsie

Re: How many inquiries is too many?

M_Smart007 — Wed, 22 Jul 2020 00:26:16 GMT

@Meanmchine wrote:
@M_Smart007 wrote:
@Meanmchine wrote:
Do a search on the card you want to apply for and see what others
Good luck
"Do a search on the card you want to apply for and see what others" Think?
oopsie

@MeanmchineNP!

Re: How many inquiries is too many?

PointsBonus — Fri, 24 Jul 2020 06:10:35 GMT

Depends which bank

Re: How many inquiries is too many?

Anonymous — Tue, 30 Mar 2021 06:25:58 GMT

Which lenders aren't as sensitive.? I have similar profile.

Re: How many inquiries is too many?

Duriel — Sun, 04 Apr 2021 21:19:20 GMT

Alliant credit union approved me for their 2% card with intro apr with 8 on Transunion but 4 were auto loan shopping. At some point you'll just have to click and pray.