INQUIRIES

[Anonymous]

I have a question...Could someone please inform me about how many inquiries is too many in a 30 day period? I have 2 for March and 4 for April, which 3 of those were done mistakenly and will be removed. I have 4 cards to apply for before I go to the garden, and I wanted to know HOW MANY WAS TOO MANY? I wanted a Barclay's and 2 Synchrony-issued cards. I'd like any and all opinions on this. I know we aren't "CREDIT EXPERTS," but I know everyone has something to teach that we can all learn from. Thanks!

[MrsCHX]

Barclay's is inquiry sensitive. But with anyone, "too many" is subjective based on the individual's file. It's so hard to know. 

June of 2016 I was denied for INQs and too many new accounts. I had 15 inquiries in the prior 6 months (16 total over 12 months, 3 from car shopping). TU was around 630-640.

February of 2017 I was approved ($1,300). I had 5 INQs in the prior 6 months (20 in prior 12 months, same 3 from my car). TU was around 680.

[brownie545]

For what it's worth I try to keep mine in the single digits. I also sprinkle them out throughout the year. Checked the last 24 months and I have not had more than 2 in a 2 month period. Of course I base my single digit theory completely on my fear of denial.

I have never been denied for inquiries so I can't say where the ceiling is. 

[Anonymous]

Thanks for the info on Barclays! I figured they would be inquiry sensitive; it's just something about them! Lol! I just hate that Avianca dinged my reports for 5 inquiries each for a single approval! They stated that they would fix it as soon as my account is activated. So I am just waiting on that one there...Do you think 6 in 2 months is a lot for Barclays? I was told I could recon and explain the situation and more than likely get approved, as they can see they were all done in the same day. I am weighing my options on that one though...

[Anonymous]

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@Anonymous wrote:

I just hate that Avianca dinged my reports for 5 inquiries each for a single approval! They stated that they would fix it as soon as my account is activated. So I am just waiting on that one there...

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That's crazy, must have been a mistake.

[MrsCHX]

OH MY GOSH that is insane!  I would wait until it's fixed honestly. Wow.

[dlm0820]

Inquires don't matter.....there are better ways to spend your time.

[MrsCHX]

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@brownie545 wrote:

For what it's worth I try to keep mine in the single digits. I also sprinkle them out throughout the year. Checked the last 24 months and I have not had more than 2 in a 2 month period. Of course I base my single digit theory completely on my fear of denial.

I have never been denied for inquiries so I can't say where the ceiling is. 

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hahaha to the bolded! 

I think it just depends. I have been denied for too many inquiries (both cards and CLIs) so I think it's deceptive to say they don't matter if you know you know card X and that bank is sensitive to new inquiries or new accounts (e.g. Chase). 

At any rate, I think it can go either way, rather you decide to spread out apps, which leaves you constatly with "new" accounts or group them together to let new accounts age together and inquiries drop off together.

[Anonymous]

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@dlm0820 wrote:

Inquires don't matter.....there are better ways to spend your time.

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I agree, they are very much overated.

[MrsCHX]

Ahh. I see. I see. This is CB talk.

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