topic Re: Question about Inquiries in Credit Cards

Question about Inquiries

Anonymous — Fri, 06 May 2016 21:13:20 GMT

Quick question. I had several INQ in April 2015. They all have reached a year old now since we're into May, 2016. If I was to apply for a card, would the big 3 see the inquiries from April or not? For example, if a EQ is pulled, will they see 3 inq's under a year old, or with the ones from April 2015 (4) will they see 7 inquiries the past 12 months? Should I wait until June so they only see 3 or is it ok now?

**Just to clarify** I meant do the inquiries still count now or wait another month.

Re: Question about Inquiries

Anonymous — Fri, 06 May 2016 21:07:08 GMT

I can still see some inquiries from 2014 that are due to fall off soon, but will be watching what others say to answer your question.

Re: Question about Inquiries

Anonymous — Fri, 06 May 2016 21:08:48 GMT

@Anonymous wrote:
Quick question. I had several INQ in April 2015. They all have reached a year old now since we're into May, 2016. If I was to apply for a card, would the big 3 see the inquiries from April or not? For example, if a EQ is pulled, will they see 3 inq's under a year old, or with the ones from April 2015 (4) will they see 7 inquiries the past 12 months? Should I wait until June so they only see 3 or is it ok now?

Creditors will see every inquiry done within the last 2 years so yes they'll see ones from April, 2015. Inquiries over a year dont count in FICO scoring but they remain on your reports for 24 months for EQ and TU and 25 months for EX

Re: Question about Inquiries

SouthJamaica — Fri, 06 May 2016 21:09:05 GMT

@Anonymous wrote:
Quick question. I had several INQ in April 2015. They all have reached a year old now since we're into May, 2016. If I was to apply for a card, would the big 3 see the inquiries from April or not? For example, if a EQ is pulled, will they see 3 inq's under a year old, or with the ones from April 2015 (4) will they see 7 inquiries the past 12 months? Should I wait until June so they only see 3 or is it ok now?

They will "see" your inquiries going back 24 months, but only those going back 12 months will be factored into your FICO score.

Re: Question about Inquiries

Anonymous — Fri, 06 May 2016 21:10:55 GMT

The 3 big CRA can definitely still see the INQs, because they are not removed for 2 years; however, I don't know what the lender will see because all of the monitoring services I use quits showing INQs once they reach 1 year old - but I know they are still on my actual credit reports because when I pull my reports for free each year I still see ALL of the INQs going back 2 years.

Re: Question about Inquiries

Anonymous — Fri, 06 May 2016 21:12:16 GMT

@Anonymous wrote:
@Anonymous wrote:
Quick question. I had several INQ in April 2015. They all have reached a year old now since we're into May, 2016. If I was to apply for a card, would the big 3 see the inquiries from April or not? For example, if a EQ is pulled, will they see 3 inq's under a year old, or with the ones from April 2015 (4) will they see 7 inquiries the past 12 months? Should I wait until June so they only see 3 or is it ok now?
Creditors will see every inquiry done within the last 2 years so yes they'll see ones from April, 2015. Inquiries over a year dont count in FICO scoring but they remain on your reports for 24 months for EQ and TU and 25 months for EX

Irish - I totally understand that, and I should have been more clear. I know they see them for 2 years, but after a year they don't count. So, I guess my questin is, usiing EQ as an example, today, will they count as 3 or 7? My last inquiry last April was on April 20, 2015.

Re: Question about Inquiries

Anonymous — Fri, 06 May 2016 21:19:03 GMT

@Anonymous wrote:
@Anonymous wrote:
@Anonymous wrote:
Quick question. I had several INQ in April 2015. They all have reached a year old now since we're into May, 2016. If I was to apply for a card, would the big 3 see the inquiries from April or not? For example, if a EQ is pulled, will they see 3 inq's under a year old, or with the ones from April 2015 (4) will they see 7 inquiries the past 12 months? Should I wait until June so they only see 3 or is it ok now?
Creditors will see every inquiry done within the last 2 years so yes they'll see ones from April, 2015. Inquiries over a year dont count in FICO scoring but they remain on your reports for 24 months for EQ and TU and 25 months for EX
Irish - I totally understand that, and I should have been more clear. I know they see them for 2 years, but after a year they don't count. So, I guess my questin is, usiing EQ as an example, today, will they count as 3 or 7? My last inquiry last April was on April 20, 2015.

They'll still count as 7 overall. Now whether any particular creditor will care is another thing. Some reportedly only care about inquiries in the last 6 months. I don't think we will ever know for sure how any of them specfically view the number of inquiries that an applicant has. I will say this from my experience though. Most creditors care very little about the number of inquiries you have if the rest of your credit profile is strong. When someone is denied for a new card or CLI and the reason given is 'number of inquiries' it usually means that there is something in your profile that they dont like and use the number of inquiries to fulfill the requirements of FCRA but that's not the real reason that you were denied.

Re: Question about Inquiries

kdm31091 — Fri, 06 May 2016 21:30:55 GMT

The inquiries still exist for 24 months. They do not factor into FICO scoring after a year, but for purposes of apping, especially manual review, yes they are still there.

Many creditors care more about recent inquiries versus ones over a year old, but they still show credit seeking, and it's still best to let as many fall off as possible before pursuing more apps (especially if you have a lot).

Inquiries in and of themselves are not a big deal; it's more the pattern of aggressive credit seeking that leads to denials.

Curious what card(s)/lenders you are considering as that does somewhat matter. Some are more sensitive to inquiries than others.

Re: Question about Inquiries

amakol — Fri, 06 May 2016 23:16:48 GMT

Steel, I think what you're asking is whether the inquiries from Apr 2015 are now considered over a year old, instead of whether they appear on your report.

I'd think yes, but I'm not sure - others might know better how up-to-date the timing of the system is. Judging by how 24 month inquiries can take up to a month to fall off, things may also not be that efficient.

Re: Question about Inquiries

Anonymous — Sat, 07 May 2016 00:43:55 GMT

@kdm31091 wrote:
The inquiries still exist for 24 months. They do not factor into FICO scoring after a year, but for purposes of apping, especially manual review, yes they are still there.

Many creditors care more about recent inquiries versus ones over a year old, but they still show credit seeking, and it's still best to let as many fall off as possible before pursuing more apps (especially if you have a lot).

Inquiries in and of themselves are not a big deal; it's more the pattern of aggressive credit seeking that leads to denials.

Curious what card(s)/lenders you are considering as that does somewhat matter. Some are more sensitive to inquiries than others.

It's a local Sheetz gas card. It's issued by FNB Omaha. They can be a PITA to deal with and rejected me last year because of too many inquiries. The FNB Omaha hits were on April 20, 2015 and they hit EX and EQ. I still want the card because of the total of 8 cents off per gallon. My total credit usage is 2% and no card has a balance over $1K, and those that do have a balance are 0% APR intro cards.

In the past 12 months my EX: 5, EQ: 3, TU 5; Past 24 months EX: 15, EQ: 9, TU: 18. Most of the hits the past 12 months were from our mortgage refinance and when I traded in for my new Toyota Tacoma. The rest in the past 12 months are 2 cards earlier this year for the 0% APR.

Re: Question about Inquiries

Anonymous — Sat, 07 May 2016 03:39:22 GMT

@Anonymous wrote:
It's a local Sheetz gas card. It's issued by FNB Omaha. They can be a PITA to deal with and rejected me last year because of too many inquiries. The FNB Omaha hits were on April 20, 2015 and they hit EX and EQ. I still want the card because of the total of 8 cents off per gallon. My total credit usage is 2% and no card has a balance over $1K, and those that do have a balance are 0% APR intro cards.

In the past 12 months my EX: 5, EQ: 3, TU 5; Past 24 months EX: 15, EQ: 9, TU: 18. Most of the hits the past 12 months were from our mortgage refinance and when I traded in for my new Toyota Tacoma. The rest in the past 12 months are 2 cards earlier this year for the 0% APR.

Just so you know, FNBO also checks SageStream (IDA) and ARS. ARS (I believe is owned by ICS) keeps track of every application (INQ) we do for Visa and Mastercard - regardless of which bureau was pulled for the app - and they track it by our ss# and address. As far as I know, they keep these records indefinitely (I could be wrong though). My point is, they can see ALL of your INQs far beyond 2 years using ARS (or ICS).

Re: Question about Inquiries

Blodreina — Sat, 07 May 2016 03:24:39 GMT

@Anonymous wrote:
@Anonymous wrote:
It's a local Sheetz gas card. It's issued by FNB Omaha. They can be a PITA to deal with and rejected me last year because of too many inquiries. The FNB Omaha hits were on April 20, 2015 and they hit EX and EQ. I still want the card because of the total of 8 cents off per gallon. My total credit usage is 2% and no card has a balance over $1K, and those that do have a balance are 0% APR intro cards.

In the past 12 months my EX: 5, EQ: 3, TU 5; Past 24 months EX: 15, EQ: 9, TU: 18. Most of the hits the past 12 months were from our mortgage refinance and when I traded in for my new Toyota Tacoma. The rest in the past 12 months are 2 cards earlier this year for the 0% APR.
Just so you know, FNBO also checks SageStrean (IDA) and ARS. ARS (I believe is owned by ICS) keeps track of every application (INQ) we do for Visa and Mastercard - regardless of which bureau was pulled for the app - and they track it by our ss# and address. As far as I know, they keep these records indefinitely (I could be wrong though). My point is, they can see ALL of your INQs far beyond 2 years using ARS (or ICS).

How do you know?

Re: Question about Inquiries

Anonymous — Sat, 07 May 2016 03:38:48 GMT

@Falere wrote:
@Anonymous wrote:
@Anonymous wrote:
It's a local Sheetz gas card. It's issued by FNB Omaha. They can be a PITA to deal with and rejected me last year because of too many inquiries. The FNB Omaha hits were on April 20, 2015 and they hit EX and EQ. I still want the card because of the total of 8 cents off per gallon. My total credit usage is 2% and no card has a balance over $1K, and those that do have a balance are 0% APR intro cards.

In the past 12 months my EX: 5, EQ: 3, TU 5; Past 24 months EX: 15, EQ: 9, TU: 18. Most of the hits the past 12 months were from our mortgage refinance and when I traded in for my new Toyota Tacoma. The rest in the past 12 months are 2 cards earlier this year for the 0% APR.
Just so you know, FNBO also checks SageStream (IDA) and ARS. ARS (I believe is owned by ICS) keeps track of every application (INQ) we do for Visa and Mastercard - regardless of which bureau was pulled for the app - and they track it by our ss# and address. As far as I know, they keep these records indefinitely (I could be wrong though). My point is, they can see ALL of your INQs far beyond 2 years using ARS (or ICS).
How do you know?

Because I did a lot of research on ARS last year after I received a letter from them, and through that research I learned that FNBO and US Bank lean on the info from IDA/ ARS pretty heavy. Almost all lenders use ARS, the letter they sent me was to notify me that 9 lenders had requested a copy of my report from them. It's just the only lenders that I have come across that actually deny people based off of ARS is FNBO and US Bank, although it wouldn't surprise me if other lenders do to.

Re: Question about Inquiries

Benzman — Sat, 07 May 2016 05:56:48 GMT

I can attest that FNBO is inquiry sensitive. I have tried since day one to get the Sheetz card and continiously get declined due to inquiries. I even know some of the Sheetz brothers personally as I grew up/went to school with them in their hometown and still can't get brownie points with FNBO, even with Sheetz help.

Re: Question about Inquiries

myjourney — Sat, 07 May 2016 06:04:26 GMT

@Anonymous wrote:
@Falere wrote:
@Anonymous wrote:
@Anonymous wrote:
It's a local Sheetz gas card. It's issued by FNB Omaha. They can be a PITA to deal with and rejected me last year because of too many inquiries. The FNB Omaha hits were on April 20, 2015 and they hit EX and EQ. I still want the card because of the total of 8 cents off per gallon. My total credit usage is 2% and no card has a balance over $1K, and those that do have a balance are 0% APR intro cards.

In the past 12 months my EX: 5, EQ: 3, TU 5; Past 24 months EX: 15, EQ: 9, TU: 18. Most of the hits the past 12 months were from our mortgage refinance and when I traded in for my new Toyota Tacoma. The rest in the past 12 months are 2 cards earlier this year for the 0% APR.
Just so you know, FNBO also checks SageStream (IDA) and ARS. ARS (I believe is owned by ICS) keeps track of every application (INQ) we do for Visa and Mastercard - regardless of which bureau was pulled for the app - and they track it by our ss# and address. As far as I know, they keep these records indefinitely (I could be wrong though). My point is, they can see ALL of your INQs far beyond 2 years using ARS (or ICS).
How do you know?
Because I did a lot of research on ARS last year after I received a letter from them, and through that research I learned that FNBO and US Bank lean on the info from IDA/ ARS pretty heavy. Almost all lenders use ARS, the letter they sent me was to notify me that 9 lenders had requested a copy of my report from them. It's just the only lenders that I have come across that actually deny people based off of ARS is FNBO and US Bank, although it wouldn't surprise me if other lenders do to.

Correct and also nice to know you do your research BRAVO JustMe3 BRAVO

Re: Question about Inquiries

Anonymous — Sat, 07 May 2016 06:12:46 GMT

@Benzman wrote:
I can attest that FNBO is inquiry sensitive. I have tried since day one to get the Sheetz card and continiously get declined due to inquiries. I even know some of the Sheetz brothers personally as I grew up/went to school with them in their hometown and still can't get brownie points with FNBO, even with Sheetz help.

Outside of the Marvel card, the only cards I am seriously looking at are all FNBO or Barclays. Both are a pain on HPs. Even worse, from the beginning of the year until last week, nearly half of my HPs were Barclays. Not sure when I will ever be able to get in with FNBO

Re: Question about Inquiries

Benzman — Sat, 07 May 2016 06:50:21 GMT

OzMan1788 wrote
Outside of the Marvel card, the only cards I am seriously looking at are all FNBO or Barclays. Both are a pain on HPs. Even worse, from the beginning of the year until last week, nearly half of my HPs were Barclays. Not sure when I will ever be able to get in with FNBO

OZ,

Marvel should be easy for you, it's Synchrony, a TU pull. Good luck!

Re: Question about Inquiries

Anonymous — Sat, 07 May 2016 06:55:34 GMT

@Benzman wrote:
OzMan1788 wrote
Outside of the Marvel card, the only cards I am seriously looking at are all FNBO or Barclays. Both are a pain on HPs. Even worse, from the beginning of the year until last week, nearly half of my HPs were Barclays. Not sure when I will ever be able to get in with FNBO
OZ,
Marvel should be easy for you, it's Synchrony, a TU pull. Good luck!

I'm pretty sure it will (total exposure of $24k with them, and just got three CLIs this week), but I am waiting for some of my HPs to age so that I can get the bump to my score. Hoping for a nice SL (even though I know, and have had good luck with, calling the backdoor number and getting nice CLIs, even on a brand new card). Also, after being denied for Blispay, and possibly for the best in the long run, I just want the newness to wear off the product.

Althoiugh it would be really really cool to roll up to the theatre and pull it out to pay for Civil War.

Re: Question about Inquiries

Anonymous — Sat, 07 May 2016 10:15:10 GMT

@Benzman wrote:
I can attest that FNBO is inquiry sensitive. I have tried since day one to get the Sheetz card and continiously get declined due to inquiries. I even know some of the Sheetz brothers personally as I grew up/went to school with them in their hometown and still can't get brownie points with FNBO, even with Sheetz help.

The thing is, the Sheetz card is one that I would always PIF because their APR is astounding, like 21.99% if you wouldn't PIF. So, other than getting the discount on the gas and inside purchases the card is pretty worthless. I just want the card's 5 cents off, in addition to the Sheetz card 3 cents. I don't want a $10K CL with them and keep paying minimum amounts each month and get interest racking up on me. Too bad they're associated with FNBO.

Re: Question about Inquiries

kdm31091 — Sat, 07 May 2016 12:32:43 GMT

@Anonymous wrote:
@Benzman wrote:
I can attest that FNBO is inquiry sensitive. I have tried since day one to get the Sheetz card and continiously get declined due to inquiries. I even know some of the Sheetz brothers personally as I grew up/went to school with them in their hometown and still can't get brownie points with FNBO, even with Sheetz help.
The thing is, the Sheetz card is one that I would always PIF because their APR is astounding, like 21.99% if you wouldn't PIF. So, other than getting the discount on the gas and inside purchases the card is pretty worthless. I just want the card's 5 cents off, in addition to the Sheetz card 3 cents. I don't want a $10K CL with them and keep paying minimum amounts each month and get interest racking up on me. Too bad they're associated with FNBO.

Just a suggestion, instead of a dedicated Sheetz card, why not look into a card with gas rewards? 3% or 5% back on gas will often come out to more than 5 cents off per gallon, anyway.

You don't sound that enthused about the card and you don't want to get you'll later regret/want to close. I recall awhile back you posted about wanting to pare down; does this addition really add enough value to make sense?