Hi all, wondering if anyone can offer any insight on this, as Discover is a card I have my eyes on.
Let me preface this whole thing by saying that I am perfectly content to wait/let things age. But sometimes, for s--ts and giggles, I like to check for pre-approvals. The denial reason on my pre-approval request from Discover lately has consistently been 'number of recent inquiries'. Now, when talking inquiry-sensitive lenders, Discover isn't the first one that comes to mind. But, I also know that my profile is still very much in the improving stages, so they may be more sensitive to the number of inquiries on my report vs someone with higher scores.
Currently, I have 15 (!) inquiries on EX, with 7 inquiries from 2021 that are slated to drop over the course of this year (4 from a car loan in April, 1 in May, 1 in July, and 1 in August), 1 that is more than 6 months old and less than 12 months old, and 7 that are between 0-6 months. Again, as I said up-thread, more than happy to wait it out and not looking to apply right this second, as I am aware that 15 inquiries is a lot. Just wanted to put it out there to see if anyone has had similar or contradictory experiences. Anything besides it being profile dependent (which is the conclusion I came to)?
@laurenjessica wrote:Hi all, wondering if anyone can offer any insight on this, as Discover is a card I have my eyes on.
Let me preface this whole thing by saying that I am perfectly content to wait/let things age. But sometimes, for s--ts and giggles, I like to check for pre-approvals. The denial reason on my pre-approval request from Discover lately has consistently been 'number of recent inquiries'. Now, when talking inquiry-sensitive lenders, Discover isn't the first one that comes to mind. But, I also know that my profile is still very much in the improving stages, so they may be more sensitive to the number of inquiries on my report vs someone with higher scores.
Currently, I have 15 (!) inquiries on EX, with 7 inquiries from 2021 that are slated to drop over the course of this year (4 from a car loan in April, 1 in May, 1 in July, and 1 in August), 1 that is more than 6 months old and less than 12 months old, and 7 that are between 0-6 months. Again, as I said up-thread, more than happy to wait it out and not looking to apply right this second, as I am aware that 15 inquiries is a lot. Just wanted to put it out there to see if anyone has had similar or contradictory experiences. Anything besides it being profile dependent (which is the conclusion I came to)?
Virtually every lender (especially prime lenders) has an internal threshold pertaining to what they deem excessive, or too many. For FICO scoring, only what you have in the last 12 months is calculated in your scores. For you, I'd say the 7 within the last 6 months combined with the very recent spree of new accounts is what is holding you back currently with Disco, as they see it as risky behaviour...
How many new accounts in the last 6 months? @laurenjessica
In my opinion all lenders have been inquiries/new accounts sensitive lol I started getting denials after #7 in a year.
@JoeRockhead wrote:
@laurenjessica wrote:Hi all, wondering if anyone can offer any insight on this, as Discover is a card I have my eyes on.
Let me preface this whole thing by saying that I am perfectly content to wait/let things age. But sometimes, for s--ts and giggles, I like to check for pre-approvals. The denial reason on my pre-approval request from Discover lately has consistently been 'number of recent inquiries'. Now, when talking inquiry-sensitive lenders, Discover isn't the first one that comes to mind. But, I also know that my profile is still very much in the improving stages, so they may be more sensitive to the number of inquiries on my report vs someone with higher scores.
Currently, I have 15 (!) inquiries on EX, with 7 inquiries from 2021 that are slated to drop over the course of this year (4 from a car loan in April, 1 in May, 1 in July, and 1 in August), 1 that is more than 6 months old and less than 12 months old, and 7 that are between 0-6 months. Again, as I said up-thread, more than happy to wait it out and not looking to apply right this second, as I am aware that 15 inquiries is a lot. Just wanted to put it out there to see if anyone has had similar or contradictory experiences. Anything besides it being profile dependent (which is the conclusion I came to)?
Virtually every lender (especially prime lenders) has an internal threshold pertaining to what they deem excessive, or too many. For FICO scoring, only what you have in the last 12 months is calculated in your scores. For you, I'd say the 7 within the last 6 months combined with the very recent spree of new accounts is what is holding you back currently with Disco, as they see it as risky behaviour...
That makes sense and basically mirrors what I was thinking. As I said earlier, more than happy to wait this one out, just wanted to see if others had any insight, as it's not one of the usual reasons I see on Disco denials.
@Yasselife wrote:How many new accounts in the last 6 months? @laurenjessica
In my opinion all lenders have been inquiries/new accounts sensitive lol I started getting denials after #7 in a year.
4 in the last 6 months, which, given my profile, I totally understand them seeing as risky.
Thanks for the responses, everyone! I think I was mostly shocked/happy that the only denial reason on the pre-qual was inquiries. That's an easy one to handle/wait out.
That may have been the reason listed but I suspect it may have also been score, and whatever dropped you to that 533 score in the first place.
It is important to remember they are required to give you A reason, not THE reason(s).
If you want a Disco card, sign up for a Discover account. They will let you know once you are eligable. I signed up years ago because they were giving out a FICO score and letting you see credit alerts for free. They still let me know at least once a week if not more that I can get one of their cards, pretty good terms too now days but alas, not really a card I want right at the moment.
8/22/24
3/09/25