How many inquires are too many inquires?

[Bdj1]

So I searched and didn't see anything that would apply.  At least using my terminology.

...

How many inquires are considered too many?  

Credit Karma uses a school grade system:            

A = 0      B = 1-2      C = 3-6      D = 7-10      F = 11+

.....

Will this apply to the last 1 year or the last 2 years?  

I realize they stay on for the last two years.  Does the bad effect end at one or two?

I have 4 or 5 in the last two years and thought that, as a C, would be fairly bad.  

But I see many others talking about having 15-20....which shocked the heck out of me.

And are the quanitity of inquires diminished IF done on the same day even if they show seperately? 

Any other thoughts appreciated.

[Gunnar419]

Credit Karma's standards are pretty arbitrary. I wouldn't pay too much attention to them.

While I'm sure nearly everybody would agree that 20 in one year is "too many," some people will also think that 5 or 6 is "too many" while others just take that for granted.

A lot depends on the lender. Some lenders (Barclays, for example) have a reputation for being super inquiry sensitive and might freak out over one inquiry if you just got it last month. Others are more tolerant.

It also depends on your profile. Someone who's had credit for 20 years and has a high score might not have to worry about having 7 or 8 inquiries. Somebody who's just starting out might be denied for having that many. OTOH, high credit achievers tend to be among the fussiest when it comes to keeping the number of inquiries very low -- say 2 a year or less.

So it's really impossible to say what's "too many."

Inquiries stay on our reports for two years, but only count against us scorewise for one year.

And no, the ding isn't diminished if you get a bunch of inquiries on the same day. Each one counts. ONE EXCEPTION: When you're shopping for auto loans, student loans, or mortgages, all inquiries related to those loans that you incur in a short period count as one although they still show as multiples.

Clear as mud, isn't it?

[Bdj1]

I do take most things credit related with a grain of salt, as it seems that there are too many differences that play a part.  But it is good to have some understanding.

I do recall getting a car loan through a dealer and he rand my credit through ? in the teens of different places.  I

was still in the process of rebuilding after years of not using any credit.  So those, on the same day, only COUNTED as one per my score, but still showed if someone was looking.

Though credit card apps show and count for as many as you do.

...

I did just get a barclay card and got a hp on transunion.  Also applied for usbank business with a hp and a change of product from an over draft to a premier line with a hp on equifax.

So added 1 on transunion and 2 on equifax.  As far as usbank goes, I will not show any new accounts.  Premier switches from the overdraft...so I went from 1k up to 8k, but only have one open.  Business doesn't show.  Barclay is now showing.

How many inquires typically create problems for barclay?  I PLAN on using my 0% for the entire year.  Should I have any issues with them?  Or will they even look sp look at equifax?

[myjourney]

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@Gunnar419 wrote:

Credit Karma's standards are pretty arbitrary. I wouldn't pay too much attention to them.

While I'm sure nearly everybody would agree that 20 in one year is "too many," some people will also think that 5 or 6 is "too many" while others just take that for granted.

A lot depends on the lender. Some lenders (Barclays, for example) have a reputation for being super inquiry sensitive and might freak out over one inquiry if you just got it last month. Others are more tolerant.

It also depends on your profile. Someone who's had credit for 20 years and has a high score might not have to worry about having 7 or 8 inquiries. Somebody who's just starting out might be denied for having that many. OTOH, high credit achievers tend to be among the fussiest when it comes to keeping the number of inquiries very low -- say 2 a year or less.

So it's really impossible to say what's "too many."

Inquiries stay on our reports for two years, but only count against us scorewise for one year.

And no, the ding isn't diminished if you get a bunch of inquiries on the same day. Each one counts. ONE EXCEPTION: When you're shopping for auto loans, student loans, or mortgages, all inquiries related to those loans that you incur in a short period count as one although they still show as multiples.

Clear as mud, isn't it?

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Knocked it out the park Gunnar419

Very well said and good answer BRAVO

[yudeology101]

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@myjourney wrote:

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@Gunnar419 wrote:

Credit Karma's standards are pretty arbitrary. I wouldn't pay too much attention to them.

While I'm sure nearly everybody would agree that 20 in one year is "too many," some people will also think that 5 or 6 is "too many" while others just take that for granted.

A lot depends on the lender. Some lenders (Barclays, for example) have a reputation for being super inquiry sensitive and might freak out over one inquiry if you just got it last month. Others are more tolerant.

It also depends on your profile. Someone who's had credit for 20 years and has a high score might not have to worry about having 7 or 8 inquiries. Somebody who's just starting out might be denied for having that many. OTOH, high credit achievers tend to be among the fussiest when it comes to keeping the number of inquiries very low -- say 2 a year or less.

So it's really impossible to say what's "too many."

Inquiries stay on our reports for two years, but only count against us scorewise for one year.

And no, the ding isn't diminished if you get a bunch of inquiries on the same day. Each one counts. ONE EXCEPTION: When you're shopping for auto loans, student loans, or mortgages, all inquiries related to those loans that you incur in a short period count as one although they still show as multiples.

Clear as mud, isn't it?

---

Knocked it out the park Gunnar419

Very well said and good answer BRAVO

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+ 2 Well said, Gunnar!!! 

[DrZoidberg]

I have 34 inquiries currently on my report. I still was able to get a CSP and BoA Privileges this year. During manual review if you can explain the reasoning then they can overlook them. A lot of inquiries usually sugges that a person is desperate for credit. In my case, I took a lot of hits for student loans and auto loan. I explained this and they said ok. 

[Gunnar419]

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@Bdj1 wrote:

How many inquires typically create problems for barclay?  I PLAN on using my 0% for the entire year.  Should I have any issues with them?  Or will they even look sp look at equifax?

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First, thank you, thank you to MJ and Yude for the kudos. I'm glad when I can be helpful. So many people here have been helpful to me!

Bdj, unfortunately it's impossible to say with complete accuracy how many inquiries create problems for Barclays. But from what you describe, I don't think you'll have any problem.

I don't think they look at EQ much. They usually pull TU for approvals, and when I reconned that low CL they SP'd EX.

[Bdj1]

I appreciate all the answers and responses.  I used to work in quality control and all the little bits of information can help create a smaller grey area.  So many little things can affect credit. smh.

But again, I appreciate all the info.