How many is too many inquiries

Discussion in 'Credit Talk' started by Holly, Oct 5, 2000.

  1. Holly

    Holly Guest

    I want to get a major credit card before I take a vacation. I applied on-line last night for a Discover card, but can I apply for another type of card in case I don't get the Discover card? I get offers in the mail every day.
  2. dave

    dave Well-Known Member

    RE: How many is too many inqui

    Just my opinion, but I think it is best to respond only to preapproved offers that you think are good. At least you have been prescreened and it is probable that you fit the lender's criteria for granting credit. Taking a stab at a card offered on a website when you don't know the lender's standards can generate wasited inquiries if you are denied. Even people with outstanding credit have gotten denials from these sites. Often too, the website will advertise a card with a great rate, but in the fine print it will say that if you don't qualify, you will be considered for another card with less favorable terms that you end up not wanting. The card gets reported to the bureaus even though you end up cancelling it. 2-3 inquiries for credit cards within 6 months isn't bad. Beyond that, it starts to get dicey.
  3. roni

    roni Well-Known Member

    RE: How many is too many inqui

    more than 3-4 inquiries in a short period starts a lowering of your score.
  4. whazzzup

    whazzzup Guest

    RE: How many is too many inqui

    What is your definition of a short period?
  5. RichGuy

    RichGuy Guest

    RE: How many is too many inqui

    I concur with Dave's opinion. Preapproved offers are the best way to avoid wasting your limited budget of inquiries.
  6. Larry

    Larry Guest

    RE: How many is too many inqui

    I agree with dave... it is better to respond to offers that you've been prescreened... but since you already applied to Discover here's my advise:

    If you don't get approved... call a rep and ask for a supervisor, nicely make him/her give you the reasons for denying you credit and what you can do to qualify with them in the future... maybe you'll get a break and the supervisor will over-ride the whole thing.

    Good luck ! keep us informed.

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