topic Re: How fast on inquiries? in General Credit Topics

How fast on inquiries?

Anonymous — Sun, 03 Jul 2016 00:17:01 GMT

When applying for credit cards, most companies use automated system to approved/declined your application base on your credit report/score. Then you get inquiries sent to your report. Now, my question is: HOW FAST DOES THE INQUIRY SENT TO THE BUREAU? Because I'm being smart a$$ thinking WHAT IF I APPLIED 20 CREDIT CARDS IN SECONDS? Do you think your credit report or the three bureaus would catch them all in one minute? You might get approved $8k for each 20 cards. I'm just curious here because today's technology not always as quick as we think.

Re: How fast on inquiries?

Anonymous — Sun, 03 Jul 2016 00:21:25 GMT

@Anonymous wrote:
When applying for credit cards, most companies use automated system to approved/declined your application base on your credit report/score. Then you get inquiries sent to your report. Now, my question is: HOW FAST DOES THE INQUIRY SENT TO THE BUREAU? Because I'm being smart a$$ thinking WHAT IF I APPLIED 20 CREDIT CARDS IN SECONDS? Do you think your credit report or the three bureaus would catch them all in one minute? You might get approved $8k for each 20 cards. I'm just curious here because today's technology not always as quick as we think.

Good question and sorry I don't have an answer but my question is... are you just using this as an example or do you really plan on applying for 20 cards?

Re: How fast on inquiries?

Anonymous — Sun, 03 Jul 2016 00:34:18 GMT

No I'm not planning to apply 20 cards. No way I will do that. I'm just being a smart butt.

Re: How fast on inquiries?

Anonymous — Sun, 03 Jul 2016 00:36:56 GMT

@Anonymous wrote:
No I'm not planning to apply 20 cards. No way I will do that. I'm just being a smart butt.

Oh just wondering.

Re: How fast on inquiries?

juniornj23 — Sun, 03 Jul 2016 00:41:06 GMT

If is all from the diferent back and you have a good credit file you may do it .

But is not really a good idea

Capitalone may gave you 2 card in same HP
Amex 2 card one chrage one regular
Some companies will not approve you they may put some app in hold because fraud .
What card do you really want and need is the best question .

Re: How fast on inquiries?

Anonymous — Sun, 03 Jul 2016 00:41:12 GMT

Instant

Re: How fast on inquiries?

MrsCHX — Sun, 03 Jul 2016 01:35:00 GMT

It varies. When I apped for Barclay rewards it was INSTANT. Some of my others took a bit to show up.

Re: How fast on inquiries?

Anonymous — Sun, 03 Jul 2016 01:39:09 GMT

Some are instant and others take a few minutes to show up in my experience. Although with my last application, I appd June 29 morning but the inquiry on Experian showed June 28 lol

Re: How fast on inquiries?

greent — Sun, 03 Jul 2016 02:06:51 GMT

Well I was approved for two credit cards on Friday. I have CK application in my phone and within in about a second i recieved a notice from CK that a change had occured on my credit. It was literaly a second. So i think each inquiry will pull right away.

Re: How fast on inquiries?

Anonymous — Sun, 03 Jul 2016 02:31:29 GMT

Keep in mind that the alerts that we get from these inquiries may be delayed however.

Re: How fast on inquiries?

Anonymous — Sun, 03 Jul 2016 02:34:36 GMT

I applied today for Citi Double Cash and haven't received an alert yet. When I applied for Dillards the application was still going through and I instantly got an alert. I checked all my credit monitoring websites and still nothing yet.

Re: How fast on inquiries?

Anonymous — Sun, 03 Jul 2016 02:43:24 GMT

I applied for something like 12 cards in the last 24 hours and started getting flagged as potential fraud. I had to call in on the 2nd AmEx and 3rd Syncrony. My credit montioring started freaking out with the potential idenity theft alerts

Re: How fast on inquiries?

Anonymous — Sun, 03 Jul 2016 05:06:17 GMT

Some credit report monitoring are slow. I had Wellsfargo credit report for the longest and they track pretty slow. I never had instant report inquiries.

Re: How fast on inquiries?

Anonymous — Sun, 03 Jul 2016 05:20:12 GMT

Totally agree! I think some will most definitely see this as fraud and send you a letter to confirm yourself. Some do that now just to be safe. You will most likely get stopped somewhere down the line.

Re: How fast on inquiries?

Revelate — Sun, 03 Jul 2016 17:14:43 GMT

If you take an inquiry for whatever reason, expect it to show up immediately.

If it doesn't, congrats I guess. There's a bunch of potential delays in the system as MrPotato suggests for various reasons, but the design goal of the system is real-time for lodging an inquiry on the actual report regardless of when the monitoring solutions are triggered. Probably not quite there yet but some inquiries do get recorded at that speed, so the assumption has to be that they all will.

Re: How fast on inquiries?

RonM21 — Sun, 03 Jul 2016 20:02:46 GMT

That is a smart to look at it Revelate. Just assume they'll be reported immediately because you have no real way of knowing how it will play out. I do think some hit immediately and some not. It may all depend more on the lender's system and how it't tied to the bureaus, who knows.

Any credit monitoring will not reflect the exact speed how quickly an inquiry was reported. Or at least I would not count on them for that info, as many times, they'll have their own delay.

Re: How fast on inquiries?

takeshi74 — Wed, 06 Jul 2016 18:19:22 GMT

@Anonymous wrote:
Then you get inquiries sent to your report. Now, my question is: HOW FAST DOES THE INQUIRY SENT TO THE BUREAU?

Inquiries are not reported like other items. When a creditor pulls your report the inquiry is recorded.

@Anonymous wrote:
Because I'm being smart a$$ thinking WHAT IF I APPLIED 20 CREDIT CARDS IN SECONDS? Do you think your credit report or the three bureaus would catch them all in one minute? You might get approved $8k for each 20 cards. I'm just curious here because today's technology not always as quick as we think.

Not quite as smart as you're thinking. Smart involves considering much more than just the inquiries. The inquiries are typically a small factor despite how people tend ot obsess over them.

Keep all the other factors in mind

http://www.myfico.com/crediteducation/whatsinyourscore.aspx

including the impact of having 20 new accounts on your report and the red flags that it would raise. It's not just about getting the approvals. Your creditors will routinely SP your reports and they will see those new accounts. Getting 20 new accounts does no good if your creditors take adverse action.