topic Re: To many inquiries in Credit Cards

To many inquiries

Anonymous — Fri, 26 Feb 2016 21:07:27 GMT

i have been following this forum for a while now but this is my first question on the forum, my current fico 8 is 655exq, 656trans, 704ex, I currently have between 15 to 20 inquires on my reports but they are due to fall off by October of this year. My question is should I wait to apply or would they take that into consideration ?, I also have a bk7 from 2011 and a forclosure that was finalized on 2013. thanks in advance

Re: To many inquiries

Anonymous — Fri, 26 Feb 2016 21:55:45 GMT

@Anonymous wrote:
i have been following this forum for a while now but this is my first question on the forum, my current fico 8 is 655exq, 656trans, 704ex, I currently have between 15 to 20 inquires on my reports but they are due to fall off by October of this year. My question is should I wait to apply or would they take that into consideration ?, I also have a bk7 from 2011 and a forclosure that was finalized on 2013. thanks in advance

hmmm I know that inq's stay on your report for up to 2 years but I think that after 12 months they no longer have a negative impact on your FICO score,, even after 6 months the inq's stop dinging your score in some FICO models

Re: To many inquiries

Anonymous — Fri, 26 Feb 2016 23:30:08 GMT

@Anonymous wrote:
i have been following this forum for a while now but this is my first question on the forum, my current fico 8 is 655exq, 656trans, 704ex, I currently have between 15 to 20 inquires on my reports but they are due to fall off by October of this year. My question is should I wait to apply or would they take that into consideration ?, I also have a bk7 from 2011 and a forclosure that was finalized on 2013. thanks in advance

Wait and don't apply for anything until they fall off. You have too many strikes against you right now thus, BK, foreclosure etc. Remember when it comes to credit, patience and strategy are your best friends.

Welcome to the board by the way...

Re: To many inquiries

Anonymous — Sat, 27 Feb 2016 00:38:26 GMT

thanks for replying, so the inquiries no longer affect my score but banks will still be able to see how many inquiries i have?

Re: To many inquiries

Anonymous — Sat, 27 Feb 2016 00:48:52 GMT

@Anonymous wrote:
thanks for replying, so the inquiries no longer affect my score but banks will still be able to see how many inquiries i have?

The banks will be able to see the inq's until they fall off your report 2 years after the initial inq. While after a while they do not really effect your score some banks do not like to see a lot of inq's. Paid that with the other stuff on your report and it is not going to help. Wait until the majority or all of them fall off to start apping for more credit.

Re: To many inquiries

Anonymous — Sat, 27 Feb 2016 01:41:03 GMT

will do, thanks!!

Re: To many inquiries

ptrain — Sat, 27 Feb 2016 02:24:21 GMT

@Anonymous wrote:
@Anonymous wrote:
thanks for replying, so the inquiries no longer affect my score but banks will still be able to see how many inquiries i have?
The banks will be able to see the inq's until they fall off your report 2 years after the initial inq. While after a while they do not really effect your score some banks do not like to see a lot of inq's. Paid that with the other stuff on your report and it is not going to help. Wait until the majority or all of them fall off to start apping for more credit.

Starting Score: 541 (May 2014)

Current Score: EX:680, EQ:690, TU:701

Goal Score: 700 across the board

Re: To many inquiries

Anonymous — Sat, 27 Feb 2016 02:27:12 GMT

@Anonymous wrote:
will do, thanks!!

Anytime, we are here to help.

Re: To many inquiries

Anonymous — Wed, 02 Mar 2016 19:20:50 GMT

I would Garden and use SPs every 6 months to increase CLs on existing accounts.
Wait till those INQs drop off, then slow your roll on App sprees.

Re: To many inquiries

NRB525 — Wed, 02 Mar 2016 20:26:57 GMT

@Anonymous wrote:
i have been following this forum for a while now but this is my first question on the forum, my current fico 8 is 655exq, 656trans, 704ex, I currently have between 15 to 20 inquires on my reports but they are due to fall off by October of this year. My question is should I wait to apply or would they take that into consideration ?, I also have a bk7 from 2011 and a forclosure that was finalized on 2013. thanks in advance

What were the INQ for?

Which credit cards do you already have? What are the limits of each?

Which cards are you interested in getting?

Re: To many inquiries

Anonymous — Thu, 03 Mar 2016 13:28:42 GMT

Too*

Sorry I had to be that person...

Re: To many inquiries

takeshi74 — Thu, 03 Mar 2016 13:34:01 GMT

@Anonymous wrote:
i have been following this forum for a while now but this is my first question on the forum, my current fico 8 is 655exq, 656trans, 704ex, I currently have between 15 to 20 inquires on my reports but they are due to fall off by October of this year. My question is should I wait to apply or would they take that into consideration ?, I also have a bk7 from 2011 and a forclosure that was finalized on 2013. thanks in advance

While inquiries do not impact FICO scoring after 1 year they can certainly be considered by creditors if they are on reports. We have no idea who you intend to apply with based on your OP and even if we did we don't know the specific underwriting criteria for all creditors/products out there anyway.

Inquiries are a relatively small factor but based on your scores you're probably going to see a bigger impact from them because of your credit profile. That is a lot for your profile. Your real problems based on just what you've said are the BK and the foreclosure. There could be other issues that you might be able to address but we would need more information to provide feedback. You can also research in the Rebuilding subforum.