@YoungJay18 wrote:So i recently applied for a Citi Forward for college and i got denied for the following reason "Too many recent credit inquiries were recorded on your credit bureau report." since im new to the credit card scene i really dont know what it mean and id really like this card is there anything i can do ??? and what exactly does this mean ??
-How many INQ's do you have??
What bureau did they pull and how does that file look? (Baddies)
it was from "Equifax Credit Information Service" and i have no idea i havent gone on my credit report im completly new to this 
@YoungJay18 wrote:it was from "Equifax Credit Information Service" and i have no idea i havent gone on my credit report im completly new to this
OK so they pulled EQ. I would recommend you pull your FICO EQ report from here and see what your score is and see if they're is anything inaccurate on your report. You may also want to pull TU too.
@steve23111 wrote:
@YoungJay18 wrote:So i recently applied for a Citi Forward for college and i got denied for the following reason "Too many recent credit inquiries were recorded on your credit bureau report." since im new to the credit card scene i really dont know what it mean and id really like this card is there anything i can do ??? and what exactly does this mean ??
It means basically what it says: there are too many recent inquiries on your credit report. Every time you apply for a credit card or loan, and often when opening a new bank account, an "inquiry" is made with one or more of the three major credit bureaus. Inquiries are also made periodically while you have an account so that the banks that issue your credit cards and other accounts can monitor your use of other credit cards and credit products from other banks so they can keep tabs on your behavior and also for occasional credit limit increases or decreases.
Inquiries can be either hard or soft. A hard inquiry (or hard "pull") is made when you apply for a new card. There are some exceptions to exactly how this works in instances where you are applying for a second card from the same company and get declined, but for now let's just say that it's a given: if you apply for an account, hard pull. Soft pulls are the occasional inquiries made by the credit card companies and other institutions you do business with for purposes of checking up on you and possibly offering additional services.
Both hard and soft pulls go on your credit record, but only hard pulls impact your credit score. The amount of a credit score decrease you see and for how long after the inquiry will vary from one score model to the next, but in general, hard inquiries are bad. One every now and then won't hurt too bad -- a couple or less per year -- but much more than that (other than for certain loans) and it sends up red flags that you're aggressively shopping for credit. It makes lending institutions and everyone who looks at your credit report nervous. That not only includes companies you are applying with at the time, it also includes companies you already do business with. Some credit card companies are said to be "inquiry sensitive" after the fact-- when they do their periodic soft pulls every month or two months or six months, they're looking for new credit applications, and they see them in the form of hard inquiries.
If the Citi Forward is the only card you have applied for in the last 6-12 months, then I'd definitely be ordering up a full report from whichever bureau they pulled. The denial letter should include instructions on getting a copy of that report for free. If you've applied for more than a couple of cards in the last 6-12 months, you might have a hard time getting approved because of all the inquiries. Wait 6 months before applying for anything else to let some of those inquiries age a bit, and then try again if you still need the card.
I hope this helps.
+1
@YoungJay18 wrote:it was from "Equifax Credit Information Service" and i have no idea i havent gone on my credit report im completly new to this
How many credit cards have you recently applied for?