denied due to inquires

[3se7ens]

Fact: Inquiries in the last 12 mo. are the only ones that effect your credit score.
Also find out what agency the creditor wiil pull from as you may have 4 Inqs with EX and 0 with EQ.

[Meanmchine]

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@3se7ens wrote:

Fact: Inquiries in the last 12 mo. are the only ones that effect your credit score.
Also find out what agency the creditor wiil pull from as you may have 4 Inqs with EX and 0 with EQ.

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Sorry but youre mostly wrong.  While your statement is correct in that inqs only inpact your score for 12 months, lenders look at many factors in deturmining credit worthieness. You can have 800+ scores with a clean file and still be EASILY denied for excessive credit seeking behavior.

[Meanmchine]

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@Gmood1 wrote:

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@Anonymous wrote:
While having a ton of inquiries isn’t a great thing, they are not what’s really holding you back from approvals. Your score (and the underlying things leading to that score) is the real problem. While getting into the 600s is an awesome accomplishment, a 620 still isn’t going to get you many approvals. You need to keep chugging away at improving your overall credit profile/score.

The “too many inquiries” denial reason is many times just a reason they assign when they just don’t like your overall creditworthiness.

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Yup, this right here∆.

The too many inqs is a standard reason given. We have members here with 50+ on one CB. They get approvals as easy as a person with no inqs. The stronger the profile the less meaningful the inqs become.

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50 inqs times 3 CBs = 150 inquiries / apps

Im gonna need a new mouse if Im gonna try to join that club

[CreditCuriosity]

Inquiries are just an excuse they spit out as other eluded to and they got to provide a reason/reasons for denying credit.  Once your scores get up there and your profile matures inquiries reallly don't mean much.  

[Anonymous]

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@Anonymous wrote:

The “too many inquiries” denial reason is many times just a reason they assign when they just don’t like your overall creditworthiness.

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This. OP, your score is a little lower than mine. I got a refusal recently and I think one of the reasons was "too many inquiries" and I only had two on that bureau at the time. I really doubt it was the inquiries. It was my overall profile. 

You have a LOT of inquiries. But I think when your scores go up and you "relax" a little (no inquiries for at least six months?) you might be able to (VERY carefully and with GREAT deliberation), apply for some card you really, really want (that is realistic for your score, etc). And if you are rejected? Wait another six months. 

I don't have a horrible amount of inquiries right now, but have added four new revolving accounts in just a few months. While that is okay (since those are all the open accounts I have!) I MUST relax for a while. I want to minimize my risk of getting rejected and the best way to do that is to wait. 

[3se7ens]

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@Meanmchine wrote:

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@3se7ens wrote:

Fact: Inquiries in the last 12 mo. are the only ones that effect your credit score.
Also find out what agency the creditor wiil pull from as you may have 4 Inqs with EX and 0 with EQ.

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Sorry but youre mostly wrong.  While your statement is correct in that inqs only inpact your score for 12 months, lenders look at many factors in deturmining credit worthieness????????????

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The OP was told it was INQs, thats it.
Also when you apply for a CC. it's algorythms that make the decision not a person looking
over your report unless you do a recon. Otherwise it's a computer decision that was made pulling from 1 of the three bureaus.

.

[Remedios]

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@3se7ens wrote:

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@Meanmchine wrote:

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@3se7ens wrote:

Fact: Inquiries in the last 12 mo. are the only ones that effect your credit score.
Also find out what agency the creditor wiil pull from as you may have 4 Inqs with EX and 0 with EQ.

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Sorry but youre mostly wrong.  While your statement is correct in that inqs only inpact your score for 12 months, lenders look at many factors in deturmining credit worthieness????????????

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The OP was told it was INQs, thats it.
Also when you apply for a CC. it's algorythms that make the decision not a person looking
over your report unless you do a recon. Otherwise it's a computer decision that was made pulling from 1 of the three bureaus.

.

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Sometimes computer makes a decision, at other times, human gets to take a peek

"Too many inquiries"  is an euphemism for excessive credit seeking. Some profiles can handle it, others cant. Some lenders care, some don't. 

For OP, bottom line is getting denials based to newly opened accounts in conjunction with many inquiries. 

They dont have to tell us a nine paragraph story about what went into a denial, they only have to tell us something. 

OP, you have two new accounts, let it cool down for 6 months to a year and work on whatever is holding your scores down. That will help you a lot more than opening new accounts. 

Good luck!