Credit inquiries

[Anonymous]

Hello I recently started my credit journey and I got 15 inquiries in less than 7 months is this going to affect my journey

[Jnbmom]

Yes stop applying.  What cards do you have from those inquires? What does your credit look like, credit cards any negatives? Are you just starting out or rebuilding?

You need to post more info in order to get responses, is 15 inquiries alot in 7 months yes, but you need to post more info and not just a question when we know nothing about your profile..........................................

[RonM21]

---

@Anonymous wrote:
Hello I recently started my credit journey and I got 15 inquiries in less than 7 months is this going to affect my journey

---

Possibly.  It depends on what the rest of your profile looks like.  As well, I would say it also depends on how many overall inquiries you have, and how many with each bureau can make a diiference.  First, you could lose several points per inquiry from your score.  That lasts a year before it doesn't hurt your score.  Also, depending on how many overall inquiries you have with each bureau, if a lender looked at your reports it culd be a concern for them. 

But we can have a better feel for where you stand with more info. 

[Anonymous]

My profile is as follows my FICO scores are eq:657 tu:676 ex:680 I started 5 months ago in these 5 months I got 15 hard inquiries from trans union and 12 hard inquiries from Equifax

[Anonymous]

Not enough information to really comment.  It depends on the type of inquiries.  If they were all for revolving accounts, I'd say that yes that's a lot to take on in 7 months and you need to hit the brakes.

It's not at all uncommon though for someone rate-shopping for loan (say an auto) to receive 10-12 inquiries on a single bureau like EX.  Such a person may have 12 auto inquiries over the course of a week, but if properly coded those would be viewed and scored as a single inquiry.  So if you had 2 revolver inquiries, 12 auto inquiries for a total of 14 on a single bureau, you'd really only be seen as having 3 inquiries; that's far less of course than the 14 that it would seem like on the surface.

[Anonymous]

The iquiries were for revolving accounts trying to bring my utilization down

[Anonymous]

Since iam new to credit I didn’t know that by applying to credit would count against me

[Anonymous]

---

@Anonymous wrote:
Since iam new to credit I didn’t know that by applying to credit would count against me

---

It counts against you in more ways than just the inquiry, every time you add a new account, yes it can help with utilization (which can easily been achieved by paying the balance down before statement date without adding new accounts) but it will also lower your average age of accounts (AAoA) and reset your age of youngest accounts (AoYA) to 0 month, both are factors that can affect your score. This is also why advice were given in your other thread to stop applying and allow your profile/score to mature by aging these new accounts.

That is just the effects of "credit seeking behavior" have on your score, many lenders frown upon and view this behavior (high number of inquiries and new accounts within a short period of time) as high risk and will flat out deny you for that reason alone regardless of your score, judging by the number of inquiries compared to just a few accounts you have, I'm sure you have already experienced that.

[Anonymous]

Thank you for your advice and believe me that I learned my lesson the hard way now I know. Beginners mistake

[CreditInspired]

Also Obed, knowledge is power. While you’re gardening for the next 12 months, please read all the awesome advice given in these forums.