topic Re: Questions about Inquires? in Credit Cards

Questions about Inquires?

Anonymous — Mon, 18 Dec 2017 04:47:06 GMT

With my Inquires (19 on one and 10 on another report) as they will still be on my report next year just a year old with Amex and others use those as an excuse to deny applications a year down the road with those? OR will they see they are a year old and not look as harsh upon the amount of them?

Re: Questions about Inquires?

Anonymous — Mon, 18 Dec 2017 04:54:50 GMT

Typically they are more spooked by new accounts rather than credit inquiries themselves

Re: Questions about Inquires?

Anonymous — Mon, 18 Dec 2017 04:57:34 GMT

Inquiries are less of an issue the older they get. That being said, inquiries that fall into the 1-2 year range are going to be less meaningful than inquiries that are < 1 year old. Those under a year also impact FICO scores, where those over a year do not even though they're still on your report for another year.

Re: Questions about Inquires?

Anonymous — Mon, 18 Dec 2017 05:03:03 GMT

The Chase rep I talked to on the phone during a failed recon call basically told me that as he was looking over inquries and new accounts, he noticed that for every inq I had, I had one account up until a point.

He then went on to mention those inqs that didnt generate a new account and who they were with. Major issuers, and on a manual review he didnt like seeing other major issuers had declined.

It didnt bother him so much the number of accounts and inquiries. He said I spread them out well (they were in two big sprees six months apart), it was that I overextended both times and went for too much at once.

He also hinted that at six to twelve months or so I could reapply and would probably be approved if nothing else changed. He did say flat out that he didnt even consider my four inquries from last year in his decision.

Re: Questions about Inquires?

Anonymous — Mon, 18 Dec 2017 05:03:50 GMT

Just want to add to the above replies....it’s not a good idea to try to get them removed just because you don’t want them to show. If they are legit....let them age off.

Re: Questions about Inquires?

Anonymous — Mon, 18 Dec 2017 05:04:25 GMT

@Anonymous wrote:
Inquiries are less of an issue the older they get. That being said, inquiries that fall into the 1-2 year range are going to be less meaningful than inquiries that are < 1 year old. Those under a year also impact FICO scores, where those over a year do not even though they're still on your report for another year.

I was dumb and applied for everything with scores that weren't the best at the time, But Now I am in the Garden for at least a year and hoping this time next year I can apply for an amex card and they won't deny me for the inquires reason which is what they got me for on my last app a month ago.

Re: Questions about Inquires?

Anonymous — Mon, 18 Dec 2017 05:05:37 GMT

@Justagirl73 wrote:
Just want to add to the above replies....it’s not a good idea to try to get them removed just because you don’t want them to show. If they are legit....let them age off.

Not gonna try and have them removed just waiting a year before applying for anything now.

Re: Questions about Inquires?

Anonymous — Mon, 18 Dec 2017 05:08:18 GMT

They denied you because of the hard inquiries? I never knew Amex is sensitive to inquiries. And yeah I'm doing the same. Definitely done apping for a good while

Re: Questions about Inquires?

Anonymous — Mon, 18 Dec 2017 05:09:22 GMT

@Anonymous wrote:
They denied you because of the hard inquiries? I never knew Amex is sensitive to inquiries. And yeah I'm doing the same. Definitely done apping for a good while

Yep that was the lone reason on the Score on the back of the denial letter my score was 730.

Re: Questions about Inquires?

Hotcoals91 — Mon, 18 Dec 2017 09:51:21 GMT

Thats why its even better if you can garden for 2 years, they cant say a word about inquiries if there aren't any!

Re: Questions about Inquires?

AverageJoesCredit — Mon, 18 Dec 2017 12:02:27 GMT

I think when they deny someone with a 730 score and use the inquiry count as excuse its just the reason they use to deny. Might be more to their reasoning on denial. But its always nice to let the hps age, looking back at this year, i have way too many hps and sp cli requests. I wanna go 12 months free if i can remain strong

Re: Questions about Inquires?

Anonymous — Mon, 18 Dec 2017 15:42:03 GMT

I made the mistake last year to check Auto refi rates early December. I was browsing on Lending Tree and wasn't aware they would have all of their "business partners" do a HP so I ended up with about 6 HP's on my CR......I was so mad it ding my score about 15 points.....I just noticed this weekend that it had been a year and I checked my EX score went up 7 points. also they are not showing on my CR anymore....Strange!

But good enough for me.

won' t make that mistake again.....it was costly and didn't even refi my car.

Sorry for the rant - just thought it would help on the HP's theme.