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Too many inqs

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djc1puno
Valued Contributor

Too many inqs

Fellas,

Got a friend who went on an app spree and he wanted to recon his csp denial. He can pretty much explain everything thing else in his reports except for his many inqs...around 12-15 the past year. What do you guys usually say when trying to recon and get asked about your new inqs and accounts? Thanks for the advice! Smiley Happy


GARDEN GOAL: MARCH 2014
LAST APP: 08/20/2013
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Message 1 of 26
25 REPLIES 25
FinStar
Moderator Emeritus

Re: Too many inqs

Your friend will have to explain the hunger for credit...lol... since that appears to weigh on a risky front for a variety of lenders.  Were the inquiries associated with auto loan shopping or mortgage?  An item to keep in mind, if the inital HP reaveals the majority of them on one CR and they pull an alternate CR if the consideration route is pursued, could he explan the high number on the other CR?

Message 2 of 26
red259
Super Contributor

Re: Too many inqs

That's a lot of Inqs to explain. Its going to come down to what they were for and how thick his file is. If they were auto loans etc that is easily explainable as shopping around. If its all CCs that would be a different situation. 

;
Starting Score: EQ: 714, TU 684
Current Score: EQ: 725 7/30/13, TU 684 6/2013, Exp 828 5/2018, Last App 8/5/17
Goal Score: 800 (Achieved!) In garden until Sepetember 2019
Message 3 of 26
FinStar
Moderator Emeritus

Re: Too many inqs


@red259 wrote:

That's a lot of Inqs to explain. Its going to come down to what they were for and how thick his file is. If they were auto loans etc that is easily explainable as shopping around. If its all CCs that would be a different situation. 


+1

 

Plus, they can tell who the inquires are from.  Just something to think about.

Message 4 of 26
djc1puno
Valued Contributor

Re: Too many inqs

Lol...he says some auto and the rest ccs! And yes fin he is an addict...which is why im tring to get him here w us! Lmao


GARDEN GOAL: MARCH 2014
LAST APP: 08/20/2013
---=[NORTHBOUND]=---
Message 5 of 26
myjourney
Super Contributor

Re: Too many inqs

To many to explain.....um

I app'ed 15 cars and only 4 cards Lol

Before you app think...
Have you done your research of the CC?
Does it fit your spending?
Do you have a plan for the bonus w/o going into debt?
Can you afford the AF?
Do you know the cards benefits? Is it worth the HP?
Message 6 of 26
FinStar
Moderator Emeritus

Re: Too many inqs


@djc1puno wrote:
Lol...he says some auto and the rest ccs! And yes fin he is an addict...which is why im tring to get him here w us! Lmao

LOL... Hmmm... maybe others who had similar experiences can chime in.  I recall reading some folks were eventually approved with a high number of inquiries but I'm not too sure what strategy they used.  Is it possible?  I suppose so... perhaps with the right u/w analyst and some baked goods!  Robot LOL

Message 7 of 26
FinStar
Moderator Emeritus

Re: Too many inqs


@myjourney wrote:

To many to explain.....um

I app'ed 15 cars and only 4 cards Lol


LMAO ...good one myjourney!!!

 

Message 8 of 26
myjourney
Super Contributor

Re: Too many inqs


@FinStar wrote:

@myjourney wrote:

To many to explain.....um

I app'ed 15 cars and only 4 cards Lol


LMAO ...good one myjourney!!!

 


Smiley LOL

Before you app think...
Have you done your research of the CC?
Does it fit your spending?
Do you have a plan for the bonus w/o going into debt?
Can you afford the AF?
Do you know the cards benefits? Is it worth the HP?
Message 9 of 26
djc1puno
Valued Contributor

Re: Too many inqs

@myjourney! Rflmao! Smiley Very Happy apped for cars and got cards?! Wonder if thatll work! Lmao


GARDEN GOAL: MARCH 2014
LAST APP: 08/20/2013
---=[NORTHBOUND]=---
Message 10 of 26
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