topic 14 day window hard pull question in Credit Card Applications

14 day window hard pull question

grootinator — Sun, 13 Aug 2023 04:01:59 GMT

If let's say I was going to apply for three secured credit cards from three different credit card companies, would this count as 1 inquiry if all done within a 14 day window?

Re: 14 day window hard pull question

GZG — Sun, 13 Aug 2023 04:23:14 GMT

@grootinator wrote:
If let's say I was going to apply for three secured credit cards from three different credit card companies, would this count as 1 inquiry if all done within a 14 day window?

mortgage, auto and student loans, in a different way. For these types of loans, FICO Scores ignore inquiries made in the 30 days prior to scoring. So, if you find a loan within 30 days, the inquiries won't affect your scores while you're rate shopping.
In addition, FICO Scores look on your credit report for rate-shopping inquiries older than 30 days. If your FICO Scores find some, your scores will consider inquiries that fall in a typical shopping period as just one inquiry. For FICO Scores calculated from older versions of the scoring formula, this shopping period is any 14-day span. For FICO Scores calculated from the newest versions of the scoring formula, this shopping period is any 45-day span
https://www.myfico.com/credit-education/credit-reports/credit-checks-and-inquiries

all credit card inquires are individual inquires, they aren't bundled together like mortgage, auto and student loan inquires within a 14-45 day period

if you're rebuilding, it doesn't really matter tbh

the inquries will fall off by time you're more advanced in your rebuild

Re: 14 day window hard pull question

FriendshipSoft — Sun, 13 Aug 2023 04:31:47 GMT

Post your stats no matter how brutal they are and let us help you. Do not blindly try to apply for a bunch of secured cards without a plan. There are a number of people here who have gone 500-800 ( hint I am one of them) - this is gradual and you need to get to the root before you start adding lines

Re: 14 day window hard pull question

grootinator — Sun, 13 Aug 2023 06:22:13 GMT

Well I currently have 0 hard inquiries and going the soft pull route (Cred.ai, step, three credit builder loans, self, etc).

Currently my length of credit history, amount of new credit, credit mix are very good on my fico

- revolving utilization hovers around 124% from cc charg off (went to collections) [poor]
- payment history considered good

If it helps I applied for the Lowe's card (synchrony bank), and here's the reason for denial

Lack of real estate secured loan information

Balances on all accounts too high compared to the credit limit

Too few accounts agreed as paid

Not enough balance paid down overtime on installment accounts.

Re: 14 day window hard pull question

SouthJamaica — Sun, 13 Aug 2023 14:59:29 GMT

@grootinator wrote:
If let's say I was going to apply for three secured credit cards from three different credit card companies, would this count as 1 inquiry if all done within a 14 day window?

It would probably count as 3 inquiries.

Re: 14 day window hard pull question

GZG — Sun, 13 Aug 2023 16:14:19 GMT

@grootinator wrote:
Well I currently have 0 hard inquiries and going the soft pull route (Cred.ai, step, three credit builder loans, self, etc).

Currently my length of credit history, amount of new credit, credit mix are very good on my fico
- revolving utilization hovers around 124% from cc charg off (went to collections) [poor]
- payment history considered good

If it helps I applied for the Lowe's card (synchrony bank), and here's the reason for denial
Lack of real estate secured loan information
Balances on all accounts too high compared to the credit limit
Too few accounts agreed as paid
Not enough balance paid down overtime on installment accounts.

feel free to make a rebuilding thread as well, but you need to settle and pay that CO to $0 (or wait out 7 years?), you can't fix the CO with secured cards