cancel
Showing results for 
Search instead for 
Did you mean: 

how many inquiries are too many?

Auto Loans for ANY Credit Situation. Immediate Response.
Advertiser disclosure
Established Member

how many inquiries are too many?

According to CK I now have 8 inquiries.  In the last 12 months, I got a citi DC, Amex BCE and Now Chase AARP Visa.  I also opened a Walmart and Amazon store card.

 

I was advised by H&R Block to get a small business card for an independent contractor gig for expenses while I'm on the road.  I applied for the AARP card instead but now am not sure if that was a very smart move.   The only thing I would get now is a small business card for my deductable business related expenses but I'm thinking it would be better to just use a personal card for now.I

 

I'm just wondering how long to wait.  I'm sure my scores will take a major hit from adding another card, they always do

 

Major expenses will be gas, food and motels. 

 

 

 

 

 

 

 

 

Message 1 of 17
16 REPLIES 16
Established Contributor

Re: how many inquiries are too many?

Whether you have 8 or 9 it isn't going to make a difference so you might as well apply if you want another card. If it's a business card it might not even report on your personal credit report and won't drop your AAoA or score. 

Message 2 of 17
Valued Contributor

Re: how many inquiries are too many?

You can use your personal credit cards for business expenses and reimburse yourself for those expenses.  Just keep all your receipts and documentation and you will be fine.  I use my personal cards for some of my business expenses for better rewards per $ spent rather than my 3 business cards.  

 

The pluses of getting a business card is that it doesn't report on your credit reports and to get additional sign-up bonuses, Capital One business cards do report though.

 

Therefore, use the card that gives you the best bang for your buck and if a business card doesn't give you the same as your personal card then you don't need a business card.  Just somethings H&R Block won't tell you.

Personal Cards: Amex Gold, & Plat | Amex Delta Res | Amex Hilton | CSR | Citi AA Exec Business Cards: Ink+ | Amex BGR | Amex Plat
Message 3 of 17
Valued Contributor

Re: how many inquiries are too many?

Unfortunately, there's really no good single, hard-and-fast answer to that question. This is because every issuer has different perspectives on how many inquiries can show up on someone's credit report before they start getting uneasy about how aggressively the applicant appears to be seeking credit. What I can say, though, is that the general rule of thumb is, the fewer inquiries on any specific credit report, the better. That's one reason why "gardening" is such an important thing in this community; taking a lengthy break from applying for new cards or doing other things (such as requesting credit line increases) for which hard pulls are required will allow existing inquiries to age (after 1 year, inquiries cease to have an effect on a credit score) or, at 2 years, to delete from one's reports entirely.

 

I have a total of 21 inquiries across the three major bureaus - 9 on TransUnion, 8 on Equifax, 4 on Experian. At least half of these, probably more now, are 1 year of age or more, and at least one TU inquiry will have aged to 2 years and disappeared by the end of this year. I'm gardening until at least after New Year's, at which time I'm planning on joining Navy Federal CU and applying to them for at least one of their cards. NFCU is famous for being friendly to rebuilders and at that point, having refrained from new account openings for at least 6 months (hopefully more if I can make my willpower last that long!!!) ought to assuage any concerns about "pyramiding" debt.

Ch 7 BK discharged 11/28/14, credit rebuild well advanced. FICO:TU 680 FICO 8 (3/2/19) or 687 FICO 9/EX 694 FICO 8/EQ 685 FICO 8 or 674 FICO 9 (NFCU 3/3/19), VS 3.0 10/17/18: TU 702/EX 699/EQ 698. $92.9k revolving credit as of 1/31/19; $1K NFCU cashRewards Visa, $2K BJ's Perks MC, $5.1k Discover It #1, $6.5k Discover It #2 (new 3/12/18), $3.5k Petal Visa, $6k Paypal 2% CB MC, $6k Amazon Prime Store Card, $6k Walmart Store Card, $7k Apple FCU Platinum Visa, $7k Penfed Power Cash Rewards Visa, $11.8k Overstock Store Card, $15K Care Credit, $16K Cap One QS Rewards Visa Signature, $10k PenFed used car loan, $5k Navient student loan, $12.7k Lending Club loan. Gardening: 3 months, 19 days as of 1/31/19. 24 HP inqs total as of 10/12/18: 10 TU, 9 EQ, 5 EX (about half over 1 year old).
Message 4 of 17
Established Member

Re: how many inquiries are too many?

I tried to get a PRG right after I got my BCE and got declined.  Too many new accounts, too many inquiries, not enough time with current accounts, balance to limit ratio across all accounts is too high, lack of installment loan information, you failed to scoop up after your dog, etc.....   They only gave me $500 on the BCE so I figure even if I apply with a legal business name and EIN it will still be an instant denial.  

 

Citi couldn't pre-qualify me for anything so I was afraid to try, I really don't want to waste a HP on a denial.  

 

I recently joined AARP, received an invite to apply for the Visa card and was instantly approved.  A friend then pointed out that what AARP sent me was an advertisement, not a pre-approval.  

 

I'm finished applying for personal cards for now.  Maybe wait 6 months or so before I start looking at a business card.

Message 5 of 17
Valued Contributor

Re: how many inquiries are too many?


@crabtree052 wrote:

Too many new accounts, too many inquiries, not enough time with current accounts, balance to limit ratio across all accounts is too high, lack of installment loan information, you failed to scoop up after your dog, etc.....   


Classic!  We've all heard the script read to us at one point or another, time to lay low and enjoy the new additions you have. Smiley Happy


Message 6 of 17
Valued Contributor

Re: how many inquiries are too many?

Just realize just because a credit application letter states too many inquiries doesn't mean that has anything to do with your rejection.  I don't think Amex cares about inquiries at all.  Citi might care for the prior 6 months but I had 7 in the prior 6 months and got approved for a 12k limit card from them.  

More cards than I can mention in a signature.
Message 7 of 17
Super Contributor

Re: how many inquiries are too many?

Number of inquiries in and of itself is irrelevant. What is relevant is the number of inquiries you have relative to the rest of your profile. Someone with high utilization and multiple negative baddies may get denied for "too many inquiries" when they only have 3. Someone else with a clean file and low utilization that has 20+ inquiries applies for the same product from the same lender and is approved. Clearly, the 3 inquiries that the first person had wasn't the "real" reason for denial.
Message 8 of 17
Frequent Contributor

Re: how many inquiries are too many?

Similiarly to when you should buy new underwear, if you are asking the question, then you probably already have your answer.

Stop trying to save a nickel; start trying to earn a dollar.
Message 9 of 17
Valued Contributor

Re: how many inquiries are too many?


@Cred4All wrote:

@crabtree052 wrote:

Too many new accounts, too many inquiries, not enough time with current accounts, balance to limit ratio across all accounts is too high, lack of installment loan information, you failed to scoop up after your dog, etc.....   


Classic!  We've all heard the script read to us at one point or another, time to lay low and enjoy the new additions you have. Smiley Happy


The vast majority of the time, what it really comes down to is "Our computer doesn't like your profile, so no new card/CLI for you!" So you usually have to go to hands-on human recon to find out the real reason, unless you're savvy enough to sort through the auto-generated denial letter to figure out what it might be.

Ch 7 BK discharged 11/28/14, credit rebuild well advanced. FICO:TU 680 FICO 8 (3/2/19) or 687 FICO 9/EX 694 FICO 8/EQ 685 FICO 8 or 674 FICO 9 (NFCU 3/3/19), VS 3.0 10/17/18: TU 702/EX 699/EQ 698. $92.9k revolving credit as of 1/31/19; $1K NFCU cashRewards Visa, $2K BJ's Perks MC, $5.1k Discover It #1, $6.5k Discover It #2 (new 3/12/18), $3.5k Petal Visa, $6k Paypal 2% CB MC, $6k Amazon Prime Store Card, $6k Walmart Store Card, $7k Apple FCU Platinum Visa, $7k Penfed Power Cash Rewards Visa, $11.8k Overstock Store Card, $15K Care Credit, $16K Cap One QS Rewards Visa Signature, $10k PenFed used car loan, $5k Navient student loan, $12.7k Lending Club loan. Gardening: 3 months, 19 days as of 1/31/19. 24 HP inqs total as of 10/12/18: 10 TU, 9 EQ, 5 EX (about half over 1 year old).
Message 10 of 17
Advertiser Disclosure: The offers that appear on this site are from third party advertisers from whom FICO receives compensation.