Exessive Inquiries?

Anonymous · ‎09-12-2008

I am going to be applying for Business LOC in January. Scores are pretty good and should be 720 - 750 by then.

I've gotten new credit this year, and currently have 2 TUs from Feb, 1 TU from August and 2 Exp from August. For some recent the two recent Equifaxs which were on my report before are gone. Not complaining.

In any event, if I apply for say 3 more cards, all efx that would mean in Jan I'd have;
2 10 mos old TUs
1 4 mos old TU
2 4 mos old Exps
3 3 Mos old Efx

8 Total spread out over 10 mos and 3 CRAs. Not as worried about score hit as manual review, is that going to look 'exessive?'. On the other hand if I apply well my utilization scores will be very good...

llecs · ‎09-12-2008

I guess it depends on the lender. I was turned down for excessive inquiries with a count of 1.

Mostly anything less than 6 months may be an issue. I used to say otherwise, but was turned down recently for 3-4 CCs for excessive inquiries for having 4-6 in the past six months.

Red1Blue · ‎09-12-2008

I have 69 Hard Inq's on my EX and I have no idea what effect it has on my scores. I just gave up at some point. Last week I applied for Equipment leasing company. He said there will be one inq. All of a sudden there are 6 new inq, when I ask him answer is our internal credit departement did not approve, I have syndicate of lenders and I forwarded your app. I was so mad. I have decided enough is enough and no more for next 12 months even for biz.

haulingthescoreup · ‎09-13-2008

Makes sense to me.

You can try sending the dealer a non-PP letter, in that he didn't tell you that he was going to shop your app to multiple lenders, so you had not give permission.

I don't know that it will work though. You'd have to get each of them to agree to re-code to a soft, and that sounds like herding cats to me.

* Credit is a wonderful servant, but a terrible master. * Who's the boss --you or your credit?
FICO's: EQ 781 - TU 793 - EX 779 (from PSECU) - Done credit hunting; having fun with credit gardening. - EQ 590 on 5/14/2007

Anonymous · ‎09-13-2008

Wow- Are you going to join the center?

concorduser wrote:

I have 69 Hard Inq's on my EX and I have no idea what effect it has on my scores. I just gave up at some point. Last week I applied for Equipment leasing company. He said there will be one inq. All of a sudden there are 6 new inq, when I ask him answer is our internal credit departement did not approve, I have syndicate of lenders and I forwarded your app. I was so mad. I have decided enough is enough and no more for next 12 months even for biz.