How many inquiries is considered a bit much?

[jamie123]

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@elixerin wrote:
thanks for the replies guys, will be going for amex 3x come jan 9, apple card isnt reporting so not much help there(will still ask eventually), Disco is stalemate as hecckk but meh they did just 4x my secured limit to unsecured in july so i cant complain too much

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Most of the top tier lenders want to see at least one year of history managing multiple cards before they will approve you for their cards. You have 3 great cards to start with. Just slow down a bit.

I would suggest waiting until your youngest card is over 1 year old before apping for anything else and then keep those apps down to 2 well thought out cards. If you go slower you will get higher CLIs and better starting limits.

[Anonymous]

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@elixerin wrote:
thanks for the replies guys, will be going for amex 3x come jan 9, apple card isnt reporting so not much help there(will still ask eventually), Disco is stalemate as hecckk but meh they did just 4x my secured limit to unsecured in july so i cant complain too much

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Apple is beginning to report to TU now!

[Anonymous]

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@Brian_Earl_Spilner wrote:

Like with everything else, it depends on the lender. My last approval was gotten with 19/24

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and I have been declined with 1 inquiry and the excuse given on the AA letter was "too many recent inquiries" with the one inquiry being that lender's inquiry.

[Anonymous]

Wow that’s bad I’ve never heard that one before. I think you should’ve reconned that.

[Anonymous]

I have about 20 each on Equifax and Transunion and over 40 on Experian. I was approved for cards in August, September, October of 18 and March, June, August, September, October and November of this year.

[EW800]

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@Anonymous wrote:

I have about 20 each on Equifax and Transunion and over 40 on Experian. I was approved for cards in August, September, October of 18 and March, June, August, September, October and November of this year.

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40 on Experian!?   I get stressed out when I get one or two!    

[eastsea]

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@Anonymous wrote:
IMHO, I would prefer 2 every 12 months to 1 every 6 months. Why? So I get the AoYA points and have a better score for apping.

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Are you saying apply 2 cards and then wait 12 months instead of apply one card every 6 months?  Interesting.  

What are AoYA points?  

[AllZero]

^ On a clean score card, Age of Youngest Account reaches 12 months receives ~15-20 points.

If on a derogatory scorecard, I don't believe you receive the bonus.

[Anonymous]

@AllZero is correct. At 12 months opening no revolving account, clean profiles get an AoYA award ranging from 10-20 points, depending on scorecards. And again, @AllZero is correct, it does not impact dirty profiles, excepts those with only one 30-day late, IIRC.

@eastsea To me, it makes no sense to apply for another revolver when I know I have points coming that will assist in approval. I mean, if I was 825+, I guess I wouldn't care, if I saw one I wanted; but still, lenders do NOT like credit-seeking behavior. Most consider how many accounts opened in the last 12 months; some picky ones scrutinize any in the last 6 months. This results in lower SLs and higher APRs in my humble experience and opinion. And CCC like Chase look at your last 24 months of inquiries!

So, yeah, my opinion and recommendation is to wait a year and then, depending on CRA and sensitivity, determine the optimal app order and app for what you want. But, it depends on the age of your profile how many. But how many does one need? All depends on the individual. But yes, definitely 2 every 12 months as opposed to 1 every 6 months, IMHO.