topic Re: Inquiry Question in Credit Cards

Inquiry Question

Anonymous — Tue, 12 May 2015 14:32:56 GMT

I was just curious if certain credit inquiries are valued more than others when applying for certain credit cards. I understand certain cards may only pull TU or maybe TU/EX but is there certain ones that u wanna try to keep at a low number?

I've seen people say things like "if it's a hard pull on EX then I wanna make it count" so I was just curious if some are valued more than others. Or if it just depends on what card u are apping for.

Sorry if this doesn't make sense as I'm typing on my phone so may need to rephrase what I'm asking!

Re: Inquiry Question

Anonymous — Tue, 12 May 2015 14:35:14 GMT

@Anonymous wrote:
I was just curious if certain credit inquiries are valued more than others when applying for certain credit cards. I understand certain cards may only pull TU or maybe TU/EX but is there certain ones that u wanna try to keep at a low number?

I've seen people say things like "if it's a hard pull on EX then I wanna make it count" so I was just curious if some are valued more than others. Or if it just depends on what card u are apping for.

Sorry if this doesn't make sense as I'm typing on my phone so may need to rephrase what I'm asking!

No they are not looked at different. What people are saying since the hard inquiry stays on your report for 2 years and impacts your score, you want to make it count. Unlike soft inquiries that don't count at all...

So all hard inquiries are considered the same no matter what lender it is .

Re: Inquiry Question

Anonymous — Tue, 12 May 2015 14:39:35 GMT

Ahh ok thanks. I was just curious because I thought certain prime cards that are popular may pull a certain one so u wanted to maybe make sure u didn't waste those pulls on others.

Re: Inquiry Question

Anonymous — Tue, 12 May 2015 14:42:09 GMT

@Anonymous wrote:
Ahh ok thanks. I was just curious because I thought certain prime cards that are popular may pull a certain one so u wanted to maybe make sure u didn't waste those pulls on others.

That is also true...

Re: Inquiry Question

Anonymous — Tue, 12 May 2015 16:27:43 GMT

Do we know which banks pull which ones?

Re: Inquiry Question

Anonymous — Tue, 12 May 2015 16:30:54 GMT

@Lincoln465 wrote:
Do we know which banks pull which ones?

Yes for the most part we do but instead of posting multiple creditors and which bureau they pull, there is a much easier way. Google credit pulls database

Re: Inquiry Question

Anonymous — Tue, 12 May 2015 16:49:01 GMT

Okay thank you.

Re: Inquiry Question

Anonymous — Tue, 12 May 2015 17:35:45 GMT

One thing is certain: Cap One pulls all three for every card. Ouch. I do nto have many inquiries, but the tripple pulll for both Qs1 and Venture I felt the sting....the 10k Venture approval lessened the sting, but still...

Re: Inquiry Question

Anonymous — Tue, 12 May 2015 17:42:21 GMT

Yeah, pulling all 3 stinks.

Re: Inquiry Question

Jansroom726 — Tue, 12 May 2015 19:15:32 GMT

Somewhat related:

Are inquires from non-banking institutions (Ex: Cell phone companies, Rental Agencies, TV Providers, etc...) counted just the same as a C.C. inquiry?

Reason I ask, is because I moved about 9 months ago, and have about 5 inquires on my reports from non-banking related companies simply because it had to be done.

How do banks see these? Do they count the same, etc?

Thank you.

Re: Inquiry Question

Anonymous — Tue, 12 May 2015 21:36:43 GMT

I'll tag on a related question I was going to post in the general credit forum, and still may. DH had something like 7 inquiries across all bureaus when buying a car. All on one day. They say when you're getting a car loan or home loan they don't count multiple within a certain period of time, but how do they know? And is that only if a human is viewing? Or would the algorithms account for that?

Re: Inquiry Question

gdale6 — Tue, 12 May 2015 23:06:53 GMT

@Anonymous wrote:
I'll tag on a related question I was going to post in the general credit forum, and still may. DH had something like 7 inquiries across all bureaus when buying a car. All on one day. They say when you're getting a car loan or home loan they don't count multiple within a certain period of time, but how do they know? And is that only if a human is viewing? Or would the algorithms account for that?

Inquiries for mortgage or auto loans are counted as one in the eyes of Fico if done within a 2 week period. They have to be coded as such for Fico. Computers will pick them up.

Re: Inquiry Question

Anonymous — Tue, 12 May 2015 23:12:18 GMT

@gdale6 wrote:
@Anonymous wrote:
I'll tag on a related question I was going to post in the general credit forum, and still may. DH had something like 7 inquiries across all bureaus when buying a car. All on one day. They say when you're getting a car loan or home loan they don't count multiple within a certain period of time, but how do they know? And is that only if a human is viewing? Or would the algorithms account for that?
Inquiries for mortgage or auto loans are counted as one in the eyes of Fico if done within a 2 week period. They have to be coded as such for Fico. Computers will pick them up.

Thanks for the reply. Is there any way that we can see the coding?

Re: Inquiry Question

Anonymous — Tue, 12 May 2015 23:19:46 GMT

@Anonymous wrote:
One thing is certain: Cap One pulls all three for every card. Ouch. I do nto have many inquiries, but the tripple pulll for both Qs1 and Venture I felt the sting....the 10k Venture approval lessened the sting, but still...

I have read about the 3x pull from Cap, but i have not found that to be the case.

I got the SAKS WEMC last july and there was only one pull from EQ

Re: Inquiry Question

Anonymous — Wed, 13 May 2015 01:27:49 GMT

@Anonymous wrote:
@Anonymous wrote:
One thing is certain: Cap One pulls all three for every card. Ouch. I do nto have many inquiries, but the tripple pulll for both Qs1 and Venture I felt the sting....the 10k Venture approval lessened the sting, but still...

I have read about the 3x pull from Cap, but i have not found that to be the case.

I got the SAKS WEMC last july and there was only one pull from EQ

We are talking about the bank's cards: Platinum MasterCard, QS1, QS, VentureOne, Venture