at what point does inquiries hurt less

[ecxpa]

Inquiries have been an issue for me for the past few mos as a reason for denial.........still been getting approval on several cards though, even though the limits vary from 6K to 2K; Citi keeps denying me.  Today I noted that my CK FAKO went to 703, my FICO'S from Scorewatch are EX 741, TU 752, and today my EQ FICO went to 724.  Theres an offer on CK for the Citi Diamond Preferred which I figured would be a hard one to get.......says my chances are "very good".  No offers on the Cibibank site.  Anybody trust CK recommendations?

[tcbofade]

NO!  Do NOT trust CK recommendations...they are PAID to get you to apply.

Inquiries hurt less after six months, and don't affect your score at all after one year, but will remain on your report for two years.

Go to www.citicards.com and try the pre appoval.  If you get one, great...if not, I'd wait if were you.

Good luck!

[Juss11]

I got a question. Not trying to hijack ops thread! If after a year if they dont effect your score. Can you still be denied, under manual or even auto review? I have a bunch that are getting ready to turn a year.

[ecxpa]

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@tcbofade wrote:

NO!  Do NOT trust CK recommendations...they are PAID to get you to apply.

Inquiries hurt less after six months, and don't affect your score at all after one year, but will remain on your report for two years.

Go to www.citicards.com and try the pre appoval.  If you get one, great...if not, I'd wait if were you.

Good luck!

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No offers from Citi........had same offer on ScoreWatch.......guess I need to wait.

[Anonymous]

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@Juss11 wrote:

I got a question. Not trying to hijack ops thread! If after a year if they dont effect your score. Can you still be denied, under manual or even auto review? I have a bunch that are getting ready to turn a year.

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Yes, score is just one part of the decision (a major one on auto review).   But anything on the CR is fair game for them making the decision (along with any records you have with that issuer).   So Penfed for example may well look back the whole two years to decide if you are one of those pyramiders.

[mongstradamus]

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@Anonymous wrote:

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@Juss11 wrote:

I got a question. Not trying to hijack ops thread! If after a year if they dont effect your score. Can you still be denied, under manual or even auto review? I have a bunch that are getting ready to turn a year.

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Yes, score is just one part of the decision (a major one on auto review).   But anything on the CR is fair game for them making the decision (along with any records you have with that issuer).   So Penfed for example may well look back the whole two years to decide if you are one of those pyramiders.

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i think the whole not affecting score thing is for auto approvals that are done by computers. If you get an manual review they will see all the inquiries you have had for previous 2 years i believe 

[Anonymous]

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@mongstradamus wrote:

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@Anonymous wrote:

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@Juss11 wrote:

I got a question. Not trying to hijack ops thread! If after a year if they dont effect your score. Can you still be denied, under manual or even auto review? I have a bunch that are getting ready to turn a year.

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Yes, score is just one part of the decision (a major one on auto review).   But anything on the CR is fair game for them making the decision (along with any records you have with that issuer).   So Penfed for example may well look back the whole two years to decide if you are one of those pyramiders.

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i think the whole not affecting score thing is for auto approvals that are done by computers. If you get an manual review they will see all the inquiries you have had for previous 2 years i believe 

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Yes.   Even on manual review, the score will of course be the same (only 1 year of impact) but as I said, anything, including the 2 years of inqs, can be considered if the issuer so chooses.

[Anonymous]

The inqs are kept on your CR because lenders want that information.  The FICO score is just one thing that references your CR.  Generally auto approval is based on score, but in these days of large computing resources it would not surprise me if at some stage some auto approvals started to consider other factors from your CR.  Manually anything on your CR or that the lender can reasonably request can be considered.

In terms of score the effect fades with time.  Generally after 6 months the effect diminishes, and after 1 year it falls off.

[CreditUnionFan]

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@ecxpa wrote:

Inquiries have been an issue for me for the past few mos as a reason for denial.........still been getting approval on several cards though, even though the limits vary from 6K to 2K; Citi keeps denying me.  Today I noted that my CK FAKO went to 703, my FICO'S from Scorewatch are EX 741, TU 752, and today my EQ FICO went to 724.  Theres an offer on CK for the Citi Diamond Preferred which I figured would be a hard one to get.......says my chances are "very good".  No offers on the Cibibank site.  Anybody trust CK recommendations?

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Citi's computers use a six-month window. As others have noted, up to two years are available in event of a manual review, such as the case with PenFed for everything.

I wouldn't trust CK or CS for their recommendations. They earn a commission on the application. While there may be a chance the approval is more likely, with the FAKO model they use, they don't always know the true situation, nor do they work for the lender, so they don't know what the answer will be. An issuer's preapproval site is a good start, although Barclay's didn't have one for me, but I opened up their UPromise MC at the start of the year. And then a Priceline Visa. So, preapprovals might give you a clearer indication, but it doesn't mean the approval is prevented either.

[Anonymous]

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@CreditUnionFan wrote:

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@ecxpa wrote:

Inquiries have been an issue for me for the past few mos as a reason for denial.........still been getting approval on several cards though, even though the limits vary from 6K to 2K; Citi keeps denying me.  Today I noted that my CK FAKO went to 703, my FICO'S from Scorewatch are EX 741, TU 752, and today my EQ FICO went to 724.  Theres an offer on CK for the Citi Diamond Preferred which I figured would be a hard one to get.......says my chances are "very good".  No offers on the Cibibank site.  Anybody trust CK recommendations?

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Citi's computers use a six-month window. As others have noted, up to two years are available in event of a manual review, such as the case with PenFed for everything.

I wouldn't trust CK or CS for their recommendations. They earn a commission on the application. While there may be a chance the approval is more likely, with the FAKO model they use, they don't always know the true situation, nor do they work for the lender, so they don't know what the answer will be. An issuer's preapproval site is a good start, although Barclay's didn't have one for me, but I opened up their UPromise MC at the start of the year. And then a Priceline Visa. So, preapprovals might give you a clearer indication, but it doesn't mean the approval is prevented either.

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And anyway, even if they were good faith recommendations (you are likely to get this card) you still shouldn't blindy take them.  You want a card that makes most sense to spend and your needs, not whatever card the issuer is trying to push, either directly or through a third party.   As an example, Chase Slate is a good choice IF you need to do a BT, otherwise it is useless for you.   So even an issuer preapproval for card X doesn't mean that is the card you should apply for, and in the case of a CK recommendation, well worth ignoring!