topic Re: Inquiries in Credit Cards

Inquiries

Anonymous — Thu, 09 Aug 2007 22:11:32 GMT

I see alot of talk on here about too many inquiries. What is considered too many?

Re: Inquiries

Anonymous — Thu, 09 Aug 2007 23:54:15 GMT

I guess no one really knows????

Re: Inquiries

Anonymous — Fri, 10 Aug 2007 00:11:29 GMT

When you are declined for a credit card and the reason is too many inquiries, then you have too many inquiries

Re: Inquiries

Anonymous — Fri, 10 Aug 2007 00:28:37 GMT

credit4me wrote:
I see alot of talk on here about too many inquiries. What is considered too many?

uhhhhhmm, I've got too many...

Between a refinance, a lowes denial, couple cc denials, a CU Line of Credit and about 5 or 6 cc inq's that DID got me cards, I have about 6 to 12 inquiries depending on which CR you look at. All in the last 12 months, most in the last 6 months.

While these are definitely hurting my scores, my score has still been inching up and up due to a lot of other positive influences. As long as I let them age and add no new ones (ok, maybe one more new one for that amex delta sky ) my score should start easing back up.

My EX recently went up 37 points , but at the same time my EQ went from 624 to 623, I think due to inq's and/or new tradelines. And my EX has about 5 or 6 brand new inquiries on it due to CC chasing. THREE OF THEM because Chase banged me three times, once for the card, and twice more when I kept bugging them for a CLI

But after the Amex Delta Sky MIles I am done, no really, I quit

The general wisdom is to not be afraid of an inquiry (or two or three) ding, unless your really counting each point for something you need in the very near future, as they age off fairly quickly.

Hope that helps

Live Long & Prosper,

ctRob

Re: Inquiries

Anonymous — Fri, 10 Aug 2007 01:55:02 GMT

According to myFico, it's more than 1 per 12 months. I personally find that VERY difficult to believe when practically everyone nowadays does a credit pull (employers, insurance companies, etc.) But that's what they say. At least in my Fico range.

Re: Inquiries

Anonymous — Fri, 10 Aug 2007 11:52:22 GMT

re large number of inquiries...

With my HUGE number of inq's, tax lien, two paid charge offs, lots of new TL's, scores of eq 609, tu 648, & ex 657 I applied for the Delta Sky this morning....... 60 second approval....

Your credit line of $2000 will be available after you receive and activate your Card.

You will receive your new Card within 10 days.

OK, I'm done, no really, I mean it this time, no more cards, Honest...

Live Long & Prosper,

ctRob

Message Edited by ctrob on 08-10-2007 04:52 AM

Re: Inquiries

Anonymous — Fri, 10 Aug 2007 12:17:14 GMT

ctrob wrote:
re large number of inquiries...

Live Long & Prosper,
ctRob
Message Edited by ctrob on 08-10-2007 04:52 AM

Congrats....

Until the next card of course............

Re: Inquiries

Anonymous — Fri, 10 Aug 2007 12:33:32 GMT

congrats!!!!!ctrob.....

Re: Inquiries

Anonymous — Fri, 10 Aug 2007 16:31:10 GMT

Enough said....

When my TU showed 44 inq's I think I was at the too many point....now I started appling again when I got it down to 7....

Re: Inquiries

Anonymous — Fri, 10 Aug 2007 16:36:59 GMT

Who did they pull credit from??? Are they BK friendly???

Congrats!!!!!!

Re: Inquiries

Anonymous — Fri, 10 Aug 2007 16:37:56 GMT

44 inquiries lol

I have 2 inquiries and I thought i have too many

Re: Inquiries

fused — Fri, 10 Aug 2007 18:18:22 GMT

BKed_Rebound wrote:

Who did they pull credit from??? Are they BK friendly???

Congrats!!!!!!

Unfortunately, Amex is not BK friendly.

Re: Inquiries

Anonymous — Fri, 10 Aug 2007 18:21:22 GMT

Most of them were from when I was buying a car a little over 2 years ago, like 28 of them. I went into the dealer and raised holy h*ll with the manager. Then the finance guy ran 5 more. Don't believe the crap the CB's tell you if you apply for auto loans within 30 days it only will count as 1 inq. That is the biggest bunch of BS because if you look closely at the inq most don't indicate that it is for an auto loan and will all the hidden codes that we can't see. My credit shoot up 50+ points when they dropped off.

Re: Inquiries

Anonymous — Fri, 10 Aug 2007 18:24:07 GMT

That's what I thought, but it doen't hurt to ask.

Re: Inquiries

Anonymous — Fri, 10 Aug 2007 18:25:38 GMT

What do you have to set to get the message that I am replying to to be include like the other post?????

Re: Inquiries

Anonymous — Fri, 10 Aug 2007 22:17:33 GMT

AmEx is not BK friendly.

Re: Inquiries

MidnightVoice — Fri, 10 Aug 2007 22:37:09 GMT

BKed_Rebound wrote:
What do you have to set to get the message that I am replying to to be include like the other post?????

Hit "reply" on the post you wish to include. Wait for all the little icons to pop up (the red check mark is last), then press the little balloon thingie and "Hey Presto!".

Re: Inquiries

Anonymous — Sat, 11 Aug 2007 11:59:50 GMT

BKed_Rebound wrote:
Who did they pull credit from??? Are they BK friendly???

Congrats!!!!!!

I can't say for sure, I'm not enrolled for any CR alerts right now, and I just bought my CR's before the Delta Sky app....but I hear they pull a lot from EX.

Re: Inquiries

Anonymous — Mon, 20 Aug 2007 02:38:12 GMT

BKed_Rebound wrote:
Most of them were from when I was buying a car a little over 2 years ago, like 28 of them. I went into the dealer and raised holy h*ll with the manager. Then the finance guy ran 5 more. Don't believe the crap the CB's tell you if you apply for auto loans within 30 days it only will count as 1 inq. That is the biggest bunch of BS because if you look closely at the inq most don't indicate that it is for an auto loan and will all the hidden codes that we can't see. My credit shoot up 50+ points when they dropped off.

I had a mortgage lender tell me recently that nearly everyone who walks through his door has already had their credit pulled 2-4 times by other lenders within days and each time, the score drops from the previous pull. I challenged him on this (the lumping of multiple inquiries into one and no effect on score) and he said he was well aware of how it is supposed to be but he sees reality on a daily basis and the reality is that the scores decrease everytime. I only had mine pulled twice for a mortgage and my scores did decrease slightly - 2 to 3 points - so I don't know what it would have been had I checked with others. Would have been interesting to see.

Re: Inquiries

Gotagoal — Mon, 20 Aug 2007 02:59:31 GMT

I can totally relate to you!! I just wanted the Delta Amex and then I told myself no more!! I have all the new cards I need/want --- so the other night I couldn't resist and got the same approval message from AMEX as you! Woo hoo!!

This stuff is addictive. It's exciting though to go from 1 card at 300 CL to 6 new cards with about 10k in limits. I'm sure in time it will only get better. I couldn't buy a stick of gum on credit years ago. My EX score has gone down due to inq I think - but just thought I'd post these scores from last week if anyone needed to know. Rob, love your posts!!! Everyone on these forums is just so helpful - Thank you

TransUnion
652

Equifax
661

Experian
639