topic Re: CC Approval Process in Credit Cards

CC Approval Process

AZHeather — Thu, 31 May 2012 17:58:48 GMT

Just out of curiousity - When you buy a car or a house and you have several inqs pertaining to that financing, I know that they are all scored together as one by FICO (if all done in the same time period), but if you were to apply for a cc within that same year do they view all those inqs as one as well if they run your info through their own scoring system or do a manual review?

Re: CC Approval Process

Tuscani — Thu, 31 May 2012 18:21:04 GMT

No. Credit Card Inqs (or any Inq that is not home or auto) are not de-duped (counting multiple inquiries as one)

Re: CC Approval Process

AZHeather — Thu, 31 May 2012 18:13:38 GMT

Sorry, I do not think that I made that very clear. Does the cc company that you are applying with view the auto or home finance inqs as one inq like FICO does?

Re: CC Approval Process

pizzadude — Thu, 31 May 2012 18:16:44 GMT

@AZHeather wrote:
Sorry, I do not think that I made that very clear. Does the cc company that you are applying with view the auto or home finance inqs as one inq like FICO does?

Not always. Sometimes automated underwriting systems aren't sophisticated enough to recognize multiple auto/mortgage inquiries, and people have reported being declined sometimes because of it. However many times it is an easy recon to call and explain.

Re: CC Approval Process

AZHeather — Thu, 31 May 2012 18:24:21 GMT

That's what I thought. Thanks Pizza!

Re: CC Approval Process

Anonymous — Thu, 31 May 2012 20:18:12 GMT

Other problem is that the damn mortgage companies don't code their inquiries correctly. Definitely wouldn't apply to CC that doesn't have good recon process in that next year.

Re: CC Approval Process

AZHeather — Thu, 31 May 2012 20:27:42 GMT

I am gardening until next year, but the question came to mind when I was reviewing my report and saw all the inqs, even though I knew that they all counted as one.