YMMV with this one, as always there is multiple factors when looking at your credit profile. I was approved with 1 new account in the last 6 months and 8 inquires in the last 2 years.
Don't give up! I re-applied after getting denied last June, stated "too many inquiries" with only 2! Just approved $15K instantly with 3 inquiries EXP pull - I think they are just a crapshoot with applications - hit and miss