Apping Strategy?

[creditninja9000]

BTW I opened a Amex Delta and Citi Diam. Pref. card the same week in March, then a Discover More and Chase Platinum last week, 4 total new accounts in the past 30 days.

And my CreditSecure has 25 inqs from TU while EX and EQ only have 5-7 each. I'm in Illinois.

[Anonymous]

I'm confused about your plan and how it's affected by your refi.  Are you planning on going on an app spree within that 5-day window?  If so, why does it matter that you get these new cards before the refi is funded?

Also, what's the purpose of having several apps open and submitting them almost instantaneously?  Is it to try and prevent the creditors from seeing each others' inquiries?  Inquiries are noted instantly.  That most likely won't work unless your apping finger can move faster than electrons.

[Anonymous]

Cheddar, well, I  want to wait til after my refi is funded(takes 3 business days and dont want the mortgage co. to come back in the three days and see that I  went on a mini app spree)

I just want to be able to maximize the  availablility of my current good scores befoer the app hits drop it a bit is all.

Sadly, dont know how fast the inq's post when apping-just thought it might be a bit better looking if everything were tryng to go thru at once rather than a few hours or days apart.

And no, my computer  is fast but not nanosecond fast!

[unknown_entity]

cheddar wrote:

That most likely won't work unless your apping finger can move faster than electrons.

  That's funny!!! 

One can get 3 new cards with only one pull from each CRA if they pick and choose carefully. 

[creditninja9000]

With that being said, is the inq something that goes on you CR the moment you hit the button for the app request? Also, once you do an app, they can only see you CR the way it was on the day you applied/ the day their inq reports right?

[Anonymous]

OK, I see.  So you want to get the new cards after the refi is funded.  Definitely a good call!

I agree with u_e.  Instead of trying to beat the inquiries, it's probably a better idea to plan your apps so the pulls are spread across CRAs.  You could even get SIX new cards this way if you plan it right.  Most creditors won't care that you have a new inquiry from earlier the same day, as long as you don't have too many altogether.  Just make sure to apply for the most inquiry-sensitive issuers before the others.

[unknown_entity]

Yes the inquiry is recorded instantly for the next puller of your credit to see.  Once a CCC pulls the report, that's the report they see for evaluating you.  They can only see an updated version if they grant you credit or you reapply.

Message Edited by unknown_entity on 04-22-2008 04:24 PM

[bott6698]

The moment you hit and apply for new app. My score dropped every app. I pulled my score after every ap just to see what happened and each time it was lower so inq's count against your score immediately but that is a great idea lol

[Anonymous]

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mekmek86 wrote:
With that being said, is the inq something that goes on you CR the moment you hit the button for the app request? Also, once you do an app, they can only see you CR the way it was on the day you applied/ the day their inq reports right?

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Well, not the moment you hit the button exactly.  When you hit the button, the network latency that is simply a part of the Internet will make it less than instant, but as soon as the issuer's website gets notification that you hit the button, they will request your report from the CRA.  Once the CRA receives that request, the inquiry is noted in your report virtually instantly.

Message Edited by cheddar on 04-22-2008 01:26 PM

[unknown_entity]

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bott6698 wrote:

The moment you hit and apply for new app. My score dropped every app. I pulled my score after every ap just to see what happened and each time it was lower so inq's count against your score immediately but that is a great idea lol

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LOL,  My score stopped dropping because of inquiries.  I guess I have so many that it is now a fraction of a point deduction for me.