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100 Apps in a day

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Aduke1122
Senior Contributor

Re: 100 Apps in a day

My personal opinion only , but yes I feel that Comenity is poison so to speak . They let ppl open all these accts with SCT and then the AA the hell out of you can one day close all your accts down for "too many new accts" this happened to my sister in her early part of rebuilding , it was not right at all and set her back on her rebuild .
Message 61 of 69
sarge12
Senior Contributor

Re: 100 Apps in a day


@Aduke1122 wrote:
My personal opinion only , but yes I feel that Comenity is poison so to speak . They let ppl open all these accts with SCT and then the AA the hell out of you can one day close all your accts down for "too many new accts" this happened to my sister in her early part of rebuilding , it was not right at all and set her back on her rebuild .

I have been trying to reach 850 on and off for a while, and once reached 825. The only reason stated for why it was not 850 was there was a non-prime lender on my report. It turned out to be American Honda for Goldwing purchase which I refinanced at my CU before the first payment. I know for a fact now that the reputation/quality of lender can adversly affect scores.

TU fico08=812 07/16/23
EX fico08=809 07/16/23
EQ fico09=812 07/16/23
EX fico09=821 07/16/23
EQ fico bankcard08=832 07/16/23
TU Fico Bankcard 08=840 07/16/23
EQ NG1 fico=802 04/17/21
EQ Resilience index score=58 03/09/21
Unknown score from EX=784 used by Cap1 07/10/20
Message 62 of 69
Aduke1122
Senior Contributor

Re: 100 Apps in a day

Oh wow , I never realized this could affect your scores from reaching a certain tier . Thanks for sharing and letting me know this .
Message 63 of 69
sarge12
Senior Contributor

Re: 100 Apps in a day


@Aduke1122 wrote:
Oh wow , I never realized this could affect your scores from reaching a certain tier . Thanks for sharing and letting me know this .

Yes, I did not either until I clicked on the items that were hurting my score...it was showing on just a couple of the scoring models, can not remember which ones. I also would have never dreamed that fico considered American Honda a sub-prime lender. Must be Harley Davidson fans.

TU fico08=812 07/16/23
EX fico08=809 07/16/23
EQ fico09=812 07/16/23
EX fico09=821 07/16/23
EQ fico bankcard08=832 07/16/23
TU Fico Bankcard 08=840 07/16/23
EQ NG1 fico=802 04/17/21
EQ Resilience index score=58 03/09/21
Unknown score from EX=784 used by Cap1 07/10/20
Message 64 of 69
NRB525
Super Contributor

Re: 100 Apps in a day


@sarge12 wrote:

My fico 08 scores are all over 800 and I've always been concerned about how a hp makes my score go down. This is fairly common on these boards, but I've always wondered if I fill out 100 apps in a day...how much would my score actually drop? Does anyone know anyone who has tried it? I really am kind of tempted just to find out.


Terminology seems to be wandering in the thread ( no surprise )

 

100 applications in a day will result in some mix of EX, EQ, and TU pulls of one, two or Capital One All Three bureaus. It would not result in 100 HP on a single bureau, which I percieve to be OP initial question. Getting to 100 HP on a single bureau would take more than 100 credit applications, since different banks would have to be included.

 

Several of the responses have lumped all three bureaus to a total count. well that's 30 INQ per bureau, which is a much more common occurrence than 100 INQ on a single bureau.

 

And even in those cases where 30 INQ are seen, the effect of the INQ starts to be less. A single factor in FICO scoring does not send you to 350. In order to get to 350 you have to have a comprehensive, accross the board set of challenges on your credit, to hit all the right factors. Otherwise, you only drop to 500 and are disappointed you didn't get down to 350.

 

I'm in the opinion that the larger impact is from the new accounts beginning to show up, as well as AA from the various herd of creditors.

 

There's also the factor that opening up a lot of credit cards exposes your personal information for multiple possibilities of fraud or data breaches. If I have a credit account at every possible retailer across the nation, and one or more of those retailers has a data breach, my data is out with the breach.

High Bal Jan 2009 $116k on $146k limits 80% Util.
Oct 2014 $46k on $127k 36% util EQ 722 TU 727 EX 727
April 2018 $18k on $344k 5% util EQ 806 TU 810 EX 812
Jan 2019 $7.6k on $360k EQ 832 TU 839 EX 831
March 2021 $33k on $312k EQ 796 TU 798 EX 801
May 2021 Paid all Installments and Mortgages, one new Mortgage EQ 761 TY 774 EX 777
April 2022 EQ=811 TU=807 EX=805 - TU VS 3.0 765
Message 65 of 69
Revelate
Moderator Emeritus

Re: 100 Apps in a day


@sarge12 wrote:

@Aduke1122 wrote:
Oh wow , I never realized this could affect your scores from reaching a certain tier . Thanks for sharing and letting me know this .

Yes, I did not either until I clicked on the items that were hurting my score...it was showing on just a couple of the scoring models, can not remember which ones. I also would have never dreamed that fico considered American Honda a sub-prime lender. Must be Harley Davidson fans.


I can sort of see it, dealer / captive financing was at one point considered lender of last resort much like other CFA accounts.  Not sure why these days though given the market, was this a motorcycle purchase instead of a car?  Wonder if that reports somewhat differently?

 

Are you certain it's this account though?  Also how have you reached the conclusion this is what's keeping you from an 850?  Just because it shows up as a negative, doesn't mean it's a non-trivial penalty.




        
Message 66 of 69
sarge12
Senior Contributor

Re: 100 Apps in a day


@Revelate wrote:

@sarge12 wrote:

@Aduke1122 wrote:
Oh wow , I never realized this could affect your scores from reaching a certain tier . Thanks for sharing and letting me know this .

Yes, I did not either until I clicked on the items that were hurting my score...it was showing on just a couple of the scoring models, can not remember which ones. I also would have never dreamed that fico considered American Honda a sub-prime lender. Must be Harley Davidson fans.


I can sort of see it, dealer / captive financing was at one point considered lender of last resort much like other CFA accounts.  Not sure why these days though given the market, was this a motorcycle purchase instead of a car?  Wonder if that reports somewhat differently?

 

Are you certain it's this account though?  Also how have you reached the conclusion this is what's keeping you from an 850?  Just because it shows up as a negative, doesn't mean it's a non-trivial penalty.


I doubt that was accounting for the whole 25 points, but it was the only thing that was showing up. It was identified as sub-prime...google search confirmed that American Honda finances those with low scores. Google search also gave me evidence that sub-prime lenders such as finance companies can damage your credit score. American Honda Financial appears to be a finance company. It is all speculative, but when that was the only thing negative that is stated...have to give it weight.

TU fico08=812 07/16/23
EX fico08=809 07/16/23
EQ fico09=812 07/16/23
EX fico09=821 07/16/23
EQ fico bankcard08=832 07/16/23
TU Fico Bankcard 08=840 07/16/23
EQ NG1 fico=802 04/17/21
EQ Resilience index score=58 03/09/21
Unknown score from EX=784 used by Cap1 07/10/20
Message 67 of 69
morgacj2004
Valued Contributor

Re: 100 Apps in a day

Ask Ron1 or Credit Addict they are the experts lol.  Would love to see someone else try!  Shame to waste a perfectly good 800 profile 


AX Hilton Aspire 20k, AX Bonvoy Brilliant 15k, AX BCP 2k, AX Blue Bus Cash 15k, AX Delta Air Platinum 49k, (AU) AX Delta Gold 15k, AX Amazon Prime Bus 25k, BC Uber 29k, AKUSA FCU -10k , CITI AAdvantage Exec World Elite MC 16.5k, Discover (2) 16k, Kohls-4k, VS Comenity $3k, BofA AK Air Siggy 9.8k, WF Propel AX 5k, JCP $10k PFCU Plat Rewards Siggy 39.5k, PFCU Power Cash Rewards AX 10.5k, NFCU Flagship 50k, CLOC 15k, CITI Costco 9.5k, GAP VISA Synchrony $9k,Target MC 9k, Ulta MC Comenity 9k, Pay Pal 1k, CO Venture One 23k, US Bank Radisson Rewards Signature 10k, US Bank Fred Meyers World MC, 11k, US Bank Plat VISA 15.7k, VS Comenity 2k, 240k total available credit. Utiliz-2%, Current FICO EQ-724, EX 763,TU 802 ,Chapt 7 BK D/C 11-2012. Starting scores 520-550
Message 68 of 69
sarge12
Senior Contributor

Re: 100 Apps in a day


@morgacj2004 wrote:

Ask Ron1 or Credit Addict they are the experts lol.  Would love to see someone else try!  Shame to waste a perfectly good 800 profile 


You did notice the last post on this was over 8 months ago...right???

TU fico08=812 07/16/23
EX fico08=809 07/16/23
EQ fico09=812 07/16/23
EX fico09=821 07/16/23
EQ fico bankcard08=832 07/16/23
TU Fico Bankcard 08=840 07/16/23
EQ NG1 fico=802 04/17/21
EQ Resilience index score=58 03/09/21
Unknown score from EX=784 used by Cap1 07/10/20
Message 69 of 69
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