Is it possible to overcome inquiries with a strong credit profile?

[Anonymous]

Hello, I need a dining card since I dine out a lot for work. I wanted the Uber Visa card but was denied by Barclays on inquiries alone. TU at the time was 724, inquiries at 17 on TU. My score will significantly increase as two cards I have are paid off now, I’m waiting for it to reflect.

Say my TU goes to 770, is it worth re applying or just accept a denial.

I’d want the savor card but I Don’t think it’s worth a triple pull. Has anyone gotten the savor or Uber with an excessive amount of inquiries on this forum?

[UpperNwGuy]

If I were you, I would wait a year and let some of those inquiries fall off your report before applying again.  Meanwhile, stop applying for new credit.

[FinStar]

I would agree with above. A nominal notch higher in your score isn't going to change much in the grand scheme of things.

Generally speaking, most thick, like really thick, profiles with a pretty established AAoA, decent scores and low utilization (DTI/income can also play a role) can usually (not always) withstand or absorb most of the impacts. That being said, outcomes will always vary since no profile is ever the same.

[Anonymous]

I have noticed duration between new accounts is more important then inquiries. 4 months would be the bare minimum. At 6 months you should be golden (a couple of inquires for clis and other checks seem to ok within 6 months at least in my experience). With Alliant or Barclay I would not have any new accounts or new inquires in the last 6 months before applying, but other banks are far more lentient with inquiries.

[kdm31091]

New accounts are, IMO, more meaningful than inquiries but at the end of the day, fewer inquiries are always better. Don't fixate too much on score numbers. It is unlikely that a difference in the mid 700's would mean anything in terms of approval or denial. If they denied for too many inquiries, relax on the credit seeking behavior for awhile and then apply later (I'd say give it six months to a year). Creditors, especially recently, aren't taking well to excessive credit seeking.

With Barclay (or Capital One, since they seem to have tight underwriting these days as well) you'll want no new accounts in probably 6 months or a year to stand a better chance of approval. Preferably no more inquiries in that timeframe either. 17 credit applications in 2 years are a lot by most standards compared to the average consumer.

[MrCreditInternational]

Amex approved me for the gold with 10+ inquiries

[FinStar]

Right, but AmEx UW criteria is way different from Barclays or Capital One.

That being said, it's all profile specific. Some individuals can clear that piece of the algorithm while others won't. There have been many instances in which AmEx has declined applications due to too many inquiries amongst other factors.

[Anonymous]

Thanks for the replies, I’ll refrain from applying for credit for a while. I’ve been approved for other cards, but I just really need a dining card. I’m going to settle on a PC from my city DC to Costco for 3% on dining and travel in the meanwhile.

[kdm31091]

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@Anonymous wrote:
Thanks for the replies, I’ll refrain from applying for credit for a while. I’ve been approved for other cards, but I just really need a dining card. I’m going to settle on a PC from my city DC to Costco for 3% on dining and travel in the meanwhile.

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If you aren't otherwise a Costco member, remember the card technically costs $60 a year for a 1% increase over your DC in dining rewards. Just make sure it really makes sense. An extra 1% means you need to spend $6000 on dining before it actually eclipses your DC card.  If you are a Costco member anyway, it's more of a no brainer.

[CreditInspired]

+1 @upperNWguy