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Garden or keep building?

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New Member

Garden or keep building?

This is my first post, so please bear with me:

 

In Nov 2017, I was shopping for a car and one dealer decided to rack up 20+ inquiries on EQ when rate shopping. Not a big deal anymore, as they'll fall off at the end of 2019. But as a result, most of my cards have low limits (I hope I set up my signature right so you can see them). So I end up paying multiple times a month the keep my utilization low. My long term goal is to build a relationship with Chase (I have friends that rave about their rewards) and aim for the Trifecta and I know Chase likes to see multiple cards above certain limits in order to approve apps. My Cap1 QS is likely bucketed and AMEX hasn't been very generous on the last SP ($500 in Dec). No pre-qual "green check marks" on the Chase site. My question is should I:

 

a) Garden until most of the inquiries fall off. No HPs for CLIs.

b) Request CLIs from USAA and Chase (Amazon), eat the two HPs, and hope that helps with future apps.

c) Try for CFU or CF with my current scores data points to help with my Chase relationship.

USAA Preferred Cash Rewards (9.5K), AMEX BCE (6.0k), Amazon Prime Chase (5.0k), Cap1 QS (1.1k)

Data Points (as of 10/2019):
EX (FICO): 785 (16 inq) , TU (not FICO): 766 (7 inq) , EQ (FICO): 794 (23 inq)
Utilization 5-10% (PIF monthly), AAoA: 4y 5m, AoOA: 7y 1m
Message 1 of 15
14 REPLIES 14
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Moderator

Re: Garden or keep building?

Have you tried Chase's prequal page? 

 

Your scores and limits are fine as far as  CFU or CF app. 

I am not sure how much weight they may assign to older auto inquiries, tho. 

 

 

 

 

Message 2 of 15
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New Member

Re: Garden or keep building?

Yep - tried the prequal site. No results. Which is mainly why I'm hesitant to cold app.

USAA Preferred Cash Rewards (9.5K), AMEX BCE (6.0k), Amazon Prime Chase (5.0k), Cap1 QS (1.1k)

Data Points (as of 10/2019):
EX (FICO): 785 (16 inq) , TU (not FICO): 766 (7 inq) , EQ (FICO): 794 (23 inq)
Utilization 5-10% (PIF monthly), AAoA: 4y 5m, AoOA: 7y 1m
Message 3 of 15
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Moderator

Re: Garden or keep building?

No prequal does not mean you would not get approved but I'd hesitate too because Chase 😐

 

If you can wait till those inquiries are completely gone, I'd lean that way. Tho, I never listen to my own advice, so there is that. 

 

How old is your Amazon card? 

Message 4 of 15
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New Member

Re: Garden or keep building?

Amazon card is 11mo old; 1 year in mid-March. If I were aiming for a combo that didn't involve Chase I'd be less hesitant. Even if I wait until Dec (when the HPs fall off), I'm still not sure if I should request a CLI on the Amazon card at this moment. Just to keep my HPs low.

USAA Preferred Cash Rewards (9.5K), AMEX BCE (6.0k), Amazon Prime Chase (5.0k), Cap1 QS (1.1k)

Data Points (as of 10/2019):
EX (FICO): 785 (16 inq) , TU (not FICO): 766 (7 inq) , EQ (FICO): 794 (23 inq)
Utilization 5-10% (PIF monthly), AAoA: 4y 5m, AoOA: 7y 1m
Message 5 of 15
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Moderator

Re: Garden or keep building?


@DCSportsGuy wrote:

Amazon card is 11mo old; 1 year in mid-March. If I were aiming for a combo that didn't involve Chase I'd be less hesitant. Even if I wait until Dec (when the HPs fall off), I'm still not sure if I should request a CLI on the Amazon card at this moment. Just to keep my HPs low.


I'd skip HP for CLI and save it for the card app unless you are putting a big spend on your amazon card, and your spending supports the need for CLI. 

 

 

 

 

 

Message 6 of 15
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New Member

Re: Garden or keep building?

Appreciate the advice. I'll stay in the garden in that case.

USAA Preferred Cash Rewards (9.5K), AMEX BCE (6.0k), Amazon Prime Chase (5.0k), Cap1 QS (1.1k)

Data Points (as of 10/2019):
EX (FICO): 785 (16 inq) , TU (not FICO): 766 (7 inq) , EQ (FICO): 794 (23 inq)
Utilization 5-10% (PIF monthly), AAoA: 4y 5m, AoOA: 7y 1m
Message 7 of 15
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Valued Contributor

Re: Garden or keep building?

FYI, you can request for them not to pull so many times. Given you've decided on a car and are only going to one place.

Why people shop from car lot to car lot and allow multiple dealers to pull their CR I'll never know. 

 

When I finaly decide on the car I like and want, I go to that dealer to app. I tell them my ballpark score and to only pull a max of 5 lenders, and also tell them who I bank with to compare the rates. 






Message 8 of 15
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Valued Contributor

Re: Garden or keep building?


@Janus wrote:

FYI, you can request for them not to pull so many times. Given you've decided on a car and are only going to one place.

Why people shop from car lot to car lot and allow multiple dealers to pull their CR I'll never know. 

 

When I finaly decide on the car I like and want, I go to that dealer to app. I tell them my ballpark score and to only pull a max of 5 lenders, and also tell them who I bank with to compare the rates. 


Not to get off topic but the OP said he got those 20+ inquiries from one dealer. (Which happens a lot). Also from personal experience the FI guy is under no obligation to listen to your request to only shop your app to 5 banks. Many say ok, leave the room , and do whatever they like, and leave it up to salesman to deal with you when those hits pop up on your report.

 

Assuming that they always go overboard I usually tell them 3 max and expect 5-6. I bring my credit report with me so they know exactly what my score is (yes they still have to HP your report) A good FI guy will have a few banks he can get your loan approved for sure and the rest he’s just fishing for kickbacks. Sitting with them in the office can cut down on the fishing.

 

sorry for getting somewhat off topic but I’m currently car shopping and it’s somewhat on my mind.

Message 9 of 15
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Regular Contributor

Re: Garden or keep building?

I always thought car buying and house buying multiple pulls were looked at as one?



Message 10 of 15
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