topic Re: Inquiries and passing time in Understanding FICO® Scoring

Inquiries and passing time

EaglesFan2006 — Mon, 03 Sep 2012 15:03:52 GMT

A couple of months ago I applied for new cards with Chase and CitiBank. Initially, both were denied due to too many inquiries. The inquiries were all related to an auto-refinance I had in March. I called and explained that situation to the recon lines at both, and they ended up approviing me. Of course, I was always under the impression that auto inquiries should only count against me once if done in a 14-day span. That might be true, but it clearly still caused a headache.

Anyway, I'm not rushing to get any new credit but was just wondering how much time should pass before a creditor would say there were too many recent inquiries. Is 6 months a good rule of thumb?

Re: Inquiries and passing time

llecs — Mon, 03 Sep 2012 17:31:48 GMT

YMMV. Most credtors are OK beyond 6 months. I had a denial with a solitary inquiry near the one-year mark (and was referenced, though there were other factors for the denial).

Re: Inquiries and passing time

EaglesFan2006 — Mon, 03 Sep 2012 21:17:44 GMT

Thanks for the tip. By the way, what does 'YMMV' mean?

Re: Inquiries and passing time

llecs — Mon, 03 Sep 2012 22:26:17 GMT

Your Mileage May Vary