Apple Card cli decline due to inquiries.

[Red1Blue]

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@FinStar wrote:

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As far as inquiries go, US Bank is not "abusing" the process - FYI. As far as the 4 HPs you mentioned, you applied for 2 new secured accounts and you attempted to unsecure 2 other USB CCs. That's been their UW policy all along. I realize gardening has been a challenge for you, but you can't blame USB for said HP activities 🤷‍♂️

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Hi @FinStar I am not saying US Bank policy is good or bad. I have 4 more inquires from them on my EX. I dont see 4+4 inqs in 2 weeks period. I am sure many CUs would use the same hard inq for 30 days for several lending decisions. I guess it is what it is. Water under the bridge and these inqs will wash off the report in few months. What I am afraid is end of this year when they try to unsecure my 2 secured cards they will pull another 2-4 hard inqs to add to my report. This is never ending torture.  I might let them keep my money for few more months and do not ask for them unsecure my $10k cards I have with them and not add more hard inqs on my reports. Any way for now I know how each lender would behave and react.

[Anonymous]

They give me the same reason, i have $2500 limit with a TU Score of 746. i use it for business uber and thats it.

[Remedios]

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@Red1Blue wrote:

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@FinStar wrote:

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As far as inquiries go, US Bank is not "abusing" the process - FYI. As far as the 4 HPs you mentioned, you applied for 2 new secured accounts and you attempted to unsecure 2 other USB CCs. That's been their UW policy all along. I realize gardening has been a challenge for you, but you can't blame USB for said HP activities 🤷‍♂️

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Hi @FinStar I am not saying US Bank policy is good or bad. I have 4 more inquires from them on my EX. I dont see 4+4 inqs in 2 weeks period. I am sure many CUs would use the same hard inq for 30 days for several lending decisions. I guess it is what it is. Water under the bridge and these inqs will wash off the report in few months. What I am afraid is end of this year when they try to unsecure my 2 secured cards they will pull another 2-4 hard inqs to add to my report. This is never ending torture.  I might let them keep my money for few more months and do not ask for them unsecure my $10k cards I have with them and not add more hard inqs on my reports. Any way for now I know how each lender would behave and react.

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No, that is not torture. Torture is something forced upon you, and no one forced you to apply for those accounts. 

Also, at the time of applications, you knew there would be HPs, you knew US Bank does not recycle HPs, and you knew graduation will involve HPs.  

You weren't complaining when you got those approvals, in fact, untill FNBO stole your heart, those cards were the ones you talked about a lot.  

So, that's what you decided on and that wasn't even the end of your applications. 

There were more after that, and just because they might be on the different CRA, it doesn't make them invisible.

GS can SP any of your reports and while I'm not iFruit person, every lender does account reviews so they are perfectly aware of your activities.

Didn't you also applied for business cards with HPs on personal report? 

You were advised many times that this will be eventual outcome of credit seeking, it was your decision to do things your way, and now lenders are going to do things their way.

It's in your best interest not to ask for increases, apply for accounts, or perform any actions that will bring more attention to your accounts/profile, especially with all the negatives still present.  No lender wants to think that they will be left holding the bag, secured cards aren't exempt because of they unsecure, it's no longer your money, it will be theirs. 

I'm perfectly aware you'll tell me how it's not important, you're going to garden and such, but instead of doing that, perhaps a good hard look at the situation you've put yourself in is a better option for you. 

[Credit-hoarder]

They just declined mine the other day for not paying off my balance fast enough. I got the card last April and the highest balance I've had is around $1200--now it's down to about $400. Been making $100 + payments. Apparently they want it used like a charge card.

[Drifter73]

I may have missed it. I see the 4/12, but what's your x/6? From what I've been seeing. The x/6 is the most critical, as anything under 6 months Is considered recent. Though each lender is definitely different (e.g. chase 5/24).

Your x/6 data point would be helpful for my own notes.

[Aim_High]

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@Red1Blue wrote:

 ... I have total 13 (inquiries) on my TU. I have only 8 in the last 12 months.

 ... I dont understand how many inqs are too many inqs ...

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I know you've heard it before, @Red1Blue, but that really is a LOT of inquiries for most people.  Sure, we have a few outliers on My Fico who seem bullet-proof getting new accounts easily opened with dozens of new inquiries and accounts.  Kids, don't try this at home.    For the vast majority of us, that simply isn't possible or feasible.  How many is too many?  It's profile-specific so there is no single answer.  High incomes, low debt loading, high FICO, thick and aged credit files are all things that help soften that number.  For the average profile, having more than four or five inquiries within 24 months on a single CRB by itself is probably starting to raise eyebrows.  The average consumer just doesn't apply for that much credit, so you're drawing negative attention to yourself. 

Unfortunately, they don't care that US Bank did four of them.  An inquiry is an inquiry.

In 2020, I had eight new accounts within 24 months (and less inquiries per CRB) and started getting turned down for new cards, even with 850 FICOs, high income, 30+ year credit history, low debt, and no baddies.  I knew it was time to chill in the garden. 

For comparison purposes, today I am:

• EQ:  0/6 - 0/12 - 2/24 (*0/24 by May 2022)
• EX:  0/6 - 0/12 - 4/24 (*0/24 by Aug 2022)
• TU:  0/6 - 0/12 - 1/24 (*0/24 by Jul 2022)

If you want a target, I would suggest allowing yourself no more than 1 or 2 new inquiries per CRB per year.  That way, you'll always be 4/24 or less on all three of them.  While even that isn't "good", it might prevent these types of denials. 

[MPabs]

As a data point, I am still receiving the same declined message despite attempting CLI on a regular monthly basis. Currently, I only have 3 Hard Pulls from Transunion, 2 of which are exactly 5 months old and one that is 6 months and 26 days old. I'm thinking all three would need to be over 6 months before they approve for a CLI.

[Mfaiz]

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