how many inquiries is too many?

[Anonymous]

Hey guys so i recently went on an app spree for some pretty good cards I was approved for 2/5. I got approved for a discover cashback card and the apple card, i was not approved on the chase freedom card, bank of america cash rewards card, and my last inquiry i did was cap one savor one card. The reason for not being approved on these 3 were from too many inquiries. How long would I have to wait to apply again(or should i just not) or any other cards you guys recommend that are similar that i might get approved for? my scores are 720-740, overall utilization 5%. Also how long would I have to wait before asking for a cli for discover card since i've heard it is a hard pull and are apple card cli's hard pulls?

[Remedios]

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@Anonymous wrote:

Hey guys so i recently went on an app spree for some pretty good cards I was approved for 2/5. I got approved for a discover cashback card and the apple card, i was not approved on the chase freedom card, bank of america cash rewards card, and my last inquiry i did was cap one savor one card. The reason for not being approved on these 3 were from too many inquiries. How long would I have to wait to apply again(or should i just not) or any other cards you guys recommend that are similar that i might get approved for? my scores are 720-740, overall utilization 5%. Also how long would I have to wait before asking for a cli for discover card since i've heard it is a hard pull and are apple card cli's hard pulls?

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Considering number of denials, wait a year. Two out of five is very indicative of you really needing to stop applying. Keep in mind that by applying, you added to inquiries for which you were being denied in a first place and now you have two new accounts. 

Discover, feel free to ask after 90 days/3rd statement, it's a soft pull. 

No clue on Apple, it just came out. More than one statement, that's for sure  

[coldfusion]

There is no hard and fast rule about how many inquiries are too many.  That depends among other things the issuer of the card and your credit profile as a whole, not just the number of inquiries and your FICO scores.   Most issuers are more tolerant of inquiries and new accounts if the applicant has a clean, deep, and thick profile than of young and thin profiles, especially if there are 1 or more derogs with that thin file.  

The fact that you got 2 approvals out of 5 applications is a clear indication that the best thing you can do for yourself IMO right now is practice patience and follow the guidance that @Remedios outlined.     You can spend your downtime constructively by determining which cards you want to acquire and their relative priority, so you can establish the order in which you should apply when the time is right. 

I would also discourage you from app sprees and instead establish a long term pattern of waiting at least 6 months  between applications.

Goldman Sachs is I believe not yet accepting CLI requests on the Apple card. 

[Meanmchine]

Alright, Ill ask the uestion

How many inquiries do you have and when did you get them? Its impossible to answer your question without this info

[gjean78]

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@Anonymous wrote:

Hey guys so i recently went on an app spree for some pretty good cards I was approved for 2/5. I got approved for a discover cashback card and the apple card, i was not approved on the chase freedom card, bank of america cash rewards card, and my last inquiry i did was cap one savor one card. The reason for not being approved on these 3 were from too many inquiries. How long would I have to wait to apply again(or should i just not) or any other cards you guys recommend that are similar that i might get approved for? my scores are 720-740, overall utilization 5%. Also how long would I have to wait before asking for a cli for discover card since i've heard it is a hard pull and are apple card cli's hard pulls?

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if too many inquiries is the reason then you gotta get in the Garden for maybe about 6 to 12 months without applying for credit. once you done gardening give these cards another try. Since you scores are pretty good I would advice you to do a recon for the one you didn't get approved for. rerec always gives you a second chance.

[Anonymous]

I will probably just end up going to the garden then, I haven’t had too many inquiries in past 2 years but I’m pretty sure it’s cause I apped for a bunch of different cards in one day! I do have 18 inquiries in past year on Experian but half of those are from when I was purchasing my car, on TU I have 7 inquiries in past year and 6 on EQ in pst year and again over half of those on the eq are from auto finance companies. I apped first for chase card so not sure why I was declined there and then second went for discover and was approved immediately then went for us bank and then for bofa and cap one and was denied on those 3. So yes Ive decided I’ll wait till a few inquiries have fallen off or weighed less lol.

On another note I was able To get a cli increase with wf from 2k-5k and my Ashley furniture sync card from 2500-5500 so that’s good 😁

[Medic981]

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@gjean78 wrote:

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@Anonymous wrote:

Hey guys so i recently went on an app spree for some pretty good cards I was approved for 2/5. I got approved for a discover cashback card and the apple card, i was not approved on the chase freedom card, bank of america cash rewards card, and my last inquiry i did was cap one savor one card. The reason for not being approved on these 3 were from too many inquiries. How long would I have to wait to apply again(or should i just not) or any other cards you guys recommend that are similar that i might get approved for? my scores are 720-740, overall utilization 5%. Also how long would I have to wait before asking for a cli for discover card since i've heard it is a hard pull and are apple card cli's hard pulls?

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if too many inquiries is the reason then you gotta get in the Garden for maybe about 6 to 12 months without applying for credit. once you done gardening give these cards another try. Since you scores are pretty good I would advice you to do a recon for the one you didn't get approved for. rerec always gives you a second chance.

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+1

When I went into the garden, I decided to use nature's calendar to keep time for me. I am going to follow the equinox and solstice to time when I am going to apply for new credit cards or CLIs, it is much easier for me to remember this way.

Winter Solstice - December 21 - The day with the shortest period of daylight for the year

 - Call or go online to request from creditors SP CLI and decrease APRs on 181/6 CCs

 - Make an application for one goal credit card if not in the garden

Spring Equinox - March 21 - The beginning of spring

 - Request CLI for new CC obtained Dec 21st

 - Use sock draw cards to keep them active

Summer Solstice - June 21 - The day with the longest period of daylight for the year

 - Call or go online to request from creditors SP CLI on 181/6 CCs

 - Make an application for one goal credit card if not in the garden

Autumn Equinox - September 21 - The beginning of autumn

 - Request CLI for new CC obtained Jun 21st

 - Use sock draw cards to keep them active

Once I am below 5/25, this should keep me 4/24 if I maintain this cycle and keep my inquiry count low.

[kdm31091]

There is no hard and fast number, and everyone's profile is different. Generally speaking, inquiries are a relatively minor factor in your overall credit picture. That said, they're not meaningless. If you are getting denials it's best to stop for at least 3-6 months and just let things cool down. Adding more and more inquiries just for denials is only going to worsen the problem, plus you are opening new accounts on top of it. Just let things settle.

Additionally, app sprees are a bad idea IMO. A slower pace of adding inquiries/new accounts will make you appear to be a more solid borrower which in the long run will help you out not only with CC approvals but loans too. Appearing credit hungry and taking on multiple new accounts at once doesn't look good.

To sum it up if you're at a point where inquiries are having an effect on your ability to get approved then it's time to garden and let things age, and stop fueling the fire with more inquiries.