topic Re: Are there any CC's that are NOT Inq sensitive? in Credit Cards

Are there any CC's that are NOT Inq sensitive?

Anonymous — Fri, 17 Jan 2014 22:29:38 GMT

My fakos just went up from the upper 500s to the lower 700s. I went on an "app spree" and was unable to get anywhere due to limited history. So now I have a few more INQ's on my CR.

I know INQ's lower the score, but with a lower 700 fako I should be able to get approved for a regular credit card.

Are there any CC's that are easy to get with a decent score, but high INQ's?

Re: Are there any CC's that are NOT Inq sensitive?

Anonymous — Fri, 17 Jan 2014 22:35:03 GMT

@Anonymous wrote:
My fakos just went up from the upper 500s to the lower 700s. I went on an "app spree" and was unable to get anywhere due to limited history. So now I have a few more INQ's on my CR.

I know INQ's lower the score, but with a lower 700 fako I should be able to get approved for a regular credit card.

Are there any CC's that are easy to get with a decent score, but high INQ's?

scores are not the only thing lenders look at.

most of your inquiries are very recent, and many lenders will deny you simply because of that, regardless of your score. There are many people, including myself, who have been declined in the past with a 750+ score simply because there were too many recent inquiries.

Like others have said many times to you............you need to stop applying for anything and let your accounts and inquiries age.

Re: Are there any CC's that are NOT Inq sensitive?

Anonymous — Fri, 17 Jan 2014 22:38:56 GMT

Well right now I'm "B*".

Thing is, if I can get approved with a $1,500 (or there abouts), CC I won't need to worry because I won't need a high CL for a couple more years anyway.

Re: Are there any CC's that are NOT Inq sensitive?

gdale6 — Fri, 17 Jan 2014 22:43:11 GMT

@Anonymous wrote:
Well right now I'm "B*".

Thing is, if I can get approved with a $1,500 (or there abouts), CC I won't need to worry because I won't need a high CL for a couple more years anyway.

B* cannot be discussed on this forum........

Re: Are there any CC's that are NOT Inq sensitive?

Creditaddict — Fri, 17 Jan 2014 22:43:33 GMT

@Anonymous wrote:
My fakos just went up from the upper 500s to the lower 700s. I went on an "app spree" and was unable to get anywhere due to limited history. So now I have a few more INQ's on my CR.

I know INQ's lower the score, but with a lower 700 fako I should be able to get approved for a regular credit card.

Are there any CC's that are easy to get with a decent score, but high INQ's?

1. Why don't you spend the money to get 1 Fico score... I would get EQ or TU since I know more mid level prime banks that will pull those. Might be surprised how FAR off it is compared to your fako's

2. How old are the 3 accounts you list in your sigi?

Re: Are there any CC's that are NOT Inq sensitive?

Anonymous — Fri, 17 Jan 2014 22:47:11 GMT

Since when? I searched and there are a ton of topics on it.

Re: Are there any CC's that are NOT Inq sensitive?

Anonymous — Fri, 17 Jan 2014 22:48:47 GMT

1. Why don't you spend the money to get 1 Fico score... I would get EQ or TU since I know more mid level prime banks that will pull those. Might be surprised how FAR off it is compared to your fako's

2. How old are the 3 accounts you list in your sigi?

My oldest account is fingerhut from October, however most of the lenders I talked to said it does not count because it's an installment loan and not a CC.

The oldest "card" is Wells Fargo from December.

I cannot get a fico due to the fact my TL's are not old enough.

Re: Are there any CC's that are NOT Inq sensitive?

Creditaddict — Fri, 17 Jan 2014 22:48:48 GMT

@Anonymous wrote:
Since when? I searched and there are a ton of topics on it.

What's B?

What can't we discuss?

What I miss!~

Re: Are there any CC's that are NOT Inq sensitive?

Anonymous — Fri, 17 Jan 2014 22:49:47 GMT

Too many inqs, especially in a thin file, is going to be a red flag to all (good) issuers. It can be a sign of someone desperate for credit who is likely to default, and in a file without many accounts or positive history, there is nothing to mitigate that impression. So those inquiries need to go, whether through gardening or other means.

Re: Are there any CC's that are NOT Inq sensitive?

Creditaddict — Fri, 17 Jan 2014 22:50:25 GMT

@Anonymous wrote:
1. Why don't you spend the money to get 1 Fico score... I would get EQ or TU since I know more mid level prime banks that will pull those. Might be surprised how FAR off it is compared to your fako's
2. How old are the 3 accounts you list in your sigi?

My oldest account is fingerhut from October, however most of the lenders I talked to said it does not count because it's an installment loan and not a CC.

The oldest "card" is Wells Fargo from December.

I cannot get a fico due to the fact my TL's are not old enough.

then your Fako's are really worthless... banks pull fico and if you have no report generating yet you are just throwing INQ's down the toilet... you have to sit for 6 months and let a Fico generate... then you can go off and running!

Re: Are there any CC's that are NOT Inq sensitive?

Anonymous — Fri, 17 Jan 2014 22:50:59 GMT

@Anonymous wrote:
Well right now I'm "B*".

Thing is, if I can get approved with a $1,500 (or there abouts), CC I won't need to worry because I won't need a high CL for a couple more years anyway.

there are many threads on bumpage. this is one of them: http://ficoforums.myfico.com/t5/Rebuilding-Your-Credit/Bumpage-or-B-to-remove-hard-inquiries/td-p/2423453

Personally, assuming it still works and doesn't backfire on you with a split file, I think it is still too much trouble for what it is worth. Your inquiries are not going to matter much once they hit the 6 month mark, and after a year, they are pretty much irrelevant, though there's a small possibility that it can come back to hurt you as well sometimes. Rather than to spend time doing frivolous stuff, worry about other important aspects instead, and most importantly, let time do its work.

Even if the inquiries are bumped off or are on a different credit bureau, it's not going to change the fact that you have numerous new accounts that are opened only recently. Lenders are still going to see that, and you are still going to get a denial simply because of that.

When you applied for your last credit card (Merrick, was it?) you said the same thing about not having to worry about applying for new credit cards for a few months to a year. It's been less than a month, and you are now back with thoughts about applying for more new accounts.

Waiting may seem to be a pain in the ass, but it will pay off in the long run. Even if you are approved, why short change yourself now with a low CL or high APR, when you can possibly get better rates and CLs if you would just wait a few months? Take your mind off credit cards, and focus on other stuff for now.

Re: Are there any CC's that are NOT Inq sensitive?

Anonymous — Fri, 17 Jan 2014 22:52:35 GMT

@Anonymous wrote:
Since when? I searched and there are a ton of topics on it.

This forum is sponsored by FICO, which sells algorithms to predict risk, based on accurate data. Techniques that impact the accuracy of the data decrease the value of their products, so they cannot be discussed here. Go to the "other place" (which cannot be named here for the same reason) for those discussions.

Re: Are there any CC's that are NOT Inq sensitive?

Anonymous — Fri, 17 Jan 2014 22:52:40 GMT

@Creditaddict wrote:
@Anonymous wrote:
Since when? I searched and there are a ton of topics on it.
What's B?
What can't we discuss?

What I miss!~

bumpage.

using soft inquiries to try kick off hard inquiries.

it still works on TU / EQ sometimes, though it can backfire.

EX seems to have fixed this issue for the most part.

It's really just a lot of work for something that may or may not work.

Re: Are there any CC's that are NOT Inq sensitive?

Anonymous — Fri, 17 Jan 2014 22:57:01 GMT

What's the 6 months you speak of? I thought INQ's only start falling off/not counting after a year, what goes on in 6 months?

Since my fakos got bumped so high, is it still worth it sending in the $200 for another secured card I was approved for, or should I forget it?

Re: Are there any CC's that are NOT Inq sensitive?

Creditaddict — Fri, 17 Jan 2014 22:58:30 GMT

@Anonymous wrote:
@Creditaddict wrote:
@Anonymous wrote:
Since when? I searched and there are a ton of topics on it.
What's B?
What can't we discuss?

What I miss!~
bumpage.
using soft inquiries to try kick off hard inquiries.
it still works on TU / EQ sometimes, though it can backfire.
EX seems to have fixed this issue for the most part.

It's really just a lot of work for something that may or may not work.

oh goodness I could use something like that but still don't know how I have missed it but have no idea what you all are talking about and it's something I wouldn't waste 2 seconds trying to figure out, learn or DO!

INQ's are not that big of a deal... and the INQ's ARE NOT the reason you are being denied... regardless if that's what's on the letter... you do realize that it's by law that a creditor gives you a denial statement with at least 1 reason, usually at least 3 reasons... it's one of the reasons why I HATE denial letters and the reasons on them because they just direct people a lot of times in the wrong direction or focusing on the wrong things... your letters should say NO FICO FILE so you don't get confused that you can't get a credit card with a 700+ fako.

you are going to hurt yourself in the long run.

those with no file who have gotten 1 secured card and didn't apply for ANYTHING else and sat for 6 months (I know, it's killer, I can't do it either) but at month 6 they were able to add multiple prime accounts with multiple thousand dollar limits vs. those who insisted on more and more credit just ended up with a bunch of cards under $500 limits!

most of your apps are going straight through a computer system and inq's are hurting you more now than they would someone with a bigger file because you don't have a file established to let them know that your shopping around is not desperate and not something you can't handle.

Re: Are there any CC's that are NOT Inq sensitive?

Creditaddict — Fri, 17 Jan 2014 22:59:45 GMT

@Anonymous wrote:
What's the 6 months you speak of? I thought INQ's only start falling off/not counting after a year, what goes on in 6 months?

Since my fakos got bumped so high, is it still worth it sending in the $200 for another secured card I was approved for, or should I forget it?

It takes 6 months for a Fico score to be calculated when someone gets 1st account.

I'm not addressing your INQ's

2nd secured card with who?

Re: Are there any CC's that are NOT Inq sensitive?

Anonymous — Fri, 17 Jan 2014 22:59:58 GMT

Like every one has suggested many times, on multiple threads, you should stop applying for now. Age what you have and treat it carefully. You have more than enough accounts now that you should see significant progress in your credit reports by the time you move. You also could consider using the money you want to invest into more cards, and secured cards and use that money instead to negotiate payments for deletion or settlements on any negative accounts that you have. If you compile all of your posts and threads, you'll see that you're unlikely to get different answers at this point other than what is already mentioned.

Also, you mentioned moving and also that you didn't really have a lot of money to set aside for various things. Can you afford the credit lines you have? Can you afford to make more than the minimum payments on accounts? To add to this and to add to what many of the posters said, and I mean this kindly.. are you sure you're in a position to have credit right now? If $50 or more is too much for you to pay on one account or another, or one bill or another, can you pay your accounts promptly? If you end up with multiple accounts all with even just minimum payments (which is not recommended) will you be able to keep up? Please be careful that you don't find your self in over your head! I know you want more credit, and you want it now, but it is seriously and simply NOT possible for you at this time.

Re: Are there any CC's that are NOT Inq sensitive?

Anonymous — Fri, 17 Jan 2014 23:01:11 GMT

@Anonymous wrote:
What's the 6 months you speak of? I thought INQ's only start falling off/not counting after a year, what goes on in 6 months?

Since my fakos got bumped so high, is it still worth it sending in the $200 for another secured card I was approved for, or should I forget it?

inquiries age over time. the effects of inquiries tapers off slowly over the course of 2 years.

Some people are able to recover from the score ding due to inquiries after 3 months. For some others, it may be 6, 9 or 12 months. It all depends on your credit profile.

In some cases, inquiries after 6 months usually are not regarded as "recent" inquiries, though sometimes it may be a full year as well. However, the inquiry count will still be in effect for the full entire year.

Personally I think you should just stop applying for pointless cards. If you must get another card, get a secured card that will graduate you, such as the Bank of America secured card, or try to get an unsecured card with little to no fees. The best solution, is to just wait........

Re: Are there any CC's that are NOT Inq sensitive?

Anonymous — Fri, 17 Jan 2014 23:03:11 GMT

I mentioned $50 and repeated myself due to this thread http://ficoforums.myfico.com/t5/Credit-Cards/I-really-wish/m-p/2701269 where you mentioned wanting a secured card that started with a deposit as low as $50

Re: Are there any CC's that are NOT Inq sensitive?

Anonymous — Fri, 17 Jan 2014 23:05:17 GMT

"INQ's are not that big of a deal... and the INQ's ARE NOT the reason you are being denied.."

I thought lenders look at INQ's beside the score? I thought you could get denied for too many inquries regardless of the score.