when does too many INQs start?

[drkaje]

A lot of credit seekers could care less about inquiries and figure they'll get an approval upon recon.

Some (like Me) are very conservative.

With lendors, it's all over the place. Some probably perceive a ton of inquiries as being really desperate.

[Fico2Go]

I agree.. If one is starting out with zero TL then anything to get in the door is understandable.

But for me and those with 1 good TL,, each HP is worth much more.

[09Lexie]

Besides the thickness of a file and overall credit portfolio, after a certain number inq's stop counting against your score.  Lenders, may still take issue but all things are considered in approving a file.  

[Fico2Go]

Lexie, INQs might stop effecting the fico scores after awhile but it will continue to effect the computer algorithm or human being that see them on the HP list...I would venture to say that it could cause biases even after the one year mark...despite its non impact on scores.

[09Lexie]

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@Fico2Go wrote:
Lexie, INQs might stop effecting the fico scores after awhile but it will continue to effect the computer algorithm or human being that see them on the HP list...I would venture to say that it could cause biases even after the one year mark...despite its non impact on scores.

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I agree with you.  Lenders have their internal threshold of how many are acceptable. Sometimes, a lender may decline due to excessive inq's but upon a human looking at your report they may override 10 inq's for car shopping even though FICO scores them as 1.

[rebuildingmission2013]

I was just approved for Barclays card with 30 inqs.

[drkaje]

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@rebuildingmission2013 wrote:
I was just approved for Barclays card with 30 inqs.

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Am I misreading the signature? Looks like almost 60 inquiries between three bureaus.

Barclays seems to strongly dislike new accounts for at least 6 months.

[compassion101]

I think many lenders would view 70% util and 3 inquiries as too many but 8% util and 10 inquiries ok.

I think thinner files also would be under more scrutiny for inquiries than more established files.

[rebuildingmission2013]

Yeah, I haven't updated the siggy in a few months, but I did get approved with ahem* now ~30 inqs with each bureau and 2 new accounts in past 3 months. Suppose I should have taken that gardening plant down.

[llecs]

Same as the prev. poster....I found this site after going on a few app sprees with zero success, and even applied after improving my score here with the help of posters in here. At my peak, I had over 30 each on Eq and EX, and less than 10 on TU, and all of these were inside a year. After an aggressive repair phase, my FICO creeped into the high 600s and despite all of these inquiries being less than a year old, I was still approved without too much issue (on inquiries alone). It was a negative FICO scoring reason and that was reflected in some of the denials. The #1 reason always cited the remaining baddies.

To the OP, even when everything aged off, and I only selectively applied 1x/yr per CRA tops, I mostly got approved but some lenders had issues with even one inquiry reporting. I recall Juniper (now Barclays) denied me with the sole reason being that I had one inquiry reporting.