topic Re: Excessive Inquiry's in Credit Cards

Excessive Inquiry's

Anonymous — Sun, 23 Sep 2007 20:31:27 GMT

I was recently turned down by Amex and the reason was "excessive inguiry's" which is fine but I was wondering what number is excessive inquiry's? Is it so many in a month, quarter, year, or what? I know they decrease your score but just what is the magical number?

Re: Excessive Inquiry's

MidnightVoice — Sun, 23 Sep 2007 20:35:10 GMT

hard to tell. Assuming they are all for credit cards, I think 4 is too many!

Re: Excessive Inquiry's

Anonymous — Sun, 23 Sep 2007 21:08:37 GMT

kasowell wrote:
I was recently turned down by Amex and the reason was "excessive inguiry's" which is fine but I was wondering what number is excessive inquiry's? Is it so many in a month, quarter, year, or what? I know they decrease your score but just what is the magical number?

How many inquiry's do you have?

Re: Excessive Inquiry's

Anonymous — Sun, 23 Sep 2007 21:17:30 GMT

In the last 3 months I've had 4 inquiry's

Re: Excessive Inquiry's

Anonymous — Sun, 23 Sep 2007 21:31:33 GMT

i had 6 inqs and they gave me credit,and they all from cc

Re: Excessive Inquiry's

Anonymous — Sun, 23 Sep 2007 23:57:47 GMT

When does an inquiry stop affecting your score. For example if I applied for 2 cards in September when will those inquiry's stop affecting my FICO?

Re: Excessive Inquiry's

Anonymous — Sun, 23 Sep 2007 23:58:48 GMT

oneloveforall_2000 wrote:
i had 6 inqs and they gave me credit,and they all from cc

It depends on what you have on your report to go with the inqs. I too got credit with more than 6, but truthfully, MV is correct. I think you and I just lucked out.

Re: Excessive Inquiry's

Anonymous — Mon, 24 Sep 2007 00:00:54 GMT

It would be nice if they shared the play book with us so we could just do what they wanted. I hate the game playing.

Re: Excessive Inquiry's

Anonymous — Mon, 24 Sep 2007 00:00:56 GMT

kasowell wrote:
When does an inquiry stop affecting your score. For example if I applied for 2 cards in September when will those inquiry's stop affecting my FICO?

They stay on your CR for 2 yrs, but only figure into your score for 12 mos. or 1 yr. However, if the creditor does a physical perusal of your report, he can see and may count all 2 yrs worth against you if he chooses.

Re: Excessive Inquiry's

Anonymous — Mon, 24 Sep 2007 00:02:16 GMT

Anybody know the % inquiry's count in the score?

Re: Excessive Inquiry's

Anonymous — Mon, 24 Sep 2007 00:14:08 GMT

10%

Re: Excessive Inquiry's

Anonymous — Mon, 24 Sep 2007 00:14:37 GMT

kasowell wrote:
Anybody know the % inquiry's count in the score?

I believe inqs and new accounts can account for as much as 10% of your total score

Re: Excessive Inquiry's

Anonymous — Mon, 24 Sep 2007 18:36:14 GMT

after a whole day of staying in this forum, I found in the "understanding your fico score", the following percentage breakdown of scores: 35% - Payment history 30% - Utilization: acct. bal to cr limit ratio 15% - Established Credit History: age of each credit card/instrument 10% - Inquires: Self-explanatory 10% - Mix of Credit: Revolving, Installment, Auto, Mortgage, etc Hope this helps. Thank you myFiCO!