Take a look at my inqs (along with dates), then look at my scores at the bottom. Interesting isn't it? Equifax Date Company requesting your credit record 6/5/2004 HOUSEHOLD CREDIT SER 6/3/2004 MCCBG/WAL-MART 6/3/2004 HB/BESTBUY 5/27/2004 HOUSEHOLD FINANCE CO 5/26/2004 CB&T 5/24/2004 RETAILER NATIONAL BA Transunion Date Company requesting your credit record 6/3/2004 CAP ONE BANK 6/3/2004 LRD&TLR 5/26/2004 CBUSA 5/21/2004 BANK OF AMER Experian Date Company requesting your credit record 6/3/2004 CITI-USA-SEARS 6/3/2004 CAPITAL ONE BANK 6/2/2004 CITIFINANC 5/27/2004 FIRST USA BANK 5/27/2004 STERLING INC 5/26/2004 CITGO/CITI 5/26/2004 MACY/FDSB 5/25/2004 ASSET ACCEPTANCE LLC 3/31/2004 FIRST NATL BK MARIN 3/25/2004 NATIONAL AUTO FINANCE 3/25/2004 CAPITAL ONE AUTO FINAN 3/24/2004 ******MAZDA INC 1/20/2004 AMERIFEE 1/5/2004 HOUSEHOLD CREDIT SERVI 12/8/2003 ***** HYUNDAI 12/6/2003 ROUTE **** HONDA 12/3/2003 STERLING INC 12/1/2003 VALLEY NATIONAL BANK 12/1/2003 PEOPLEFIRST FINANCE LL 12/1/2003 ROADLOANS.COM 11/12/2003 ASSET ACCEPTANCE LLC 11/11/2003 FIRST USA BANK 10/26/2003 CAPITAL ONE BANK
yeah your scores suck, you will feel the pain of inquiries and new accounts when you are in the 700 club. They penalize you hard for inquiries, debt ratio, and account age. trust me. why my wife went as primary borrow (they used her mix 750 avg) versus my 708 avg for the mortgage. The only difference, i had same debt ratio, but had 4 new accounts and about 5 more inquiries in the past 6 months compared to her. +42 pts due to inquiries and new accounts. Just keep that in mind, it will come back and haunt you when you move up to the next level of credit. And 750 is tier 1 in most places and 700 is tier 2 so had i not indulged in some (wasted) applications i probably would have saved on a few things in other parts of life. (ie house insurance is based heavily on credit rating). been in your shoes my friend, only now have i quite applying because i realize the damage to my score its doing
I am done with the apps now. Once I get the amex card in a couple weeks, that will be it. (worked out a deal with them by paying of CO and I get reinstated with the Optima card) I think that in another year, I will be in the 700 club, and I didn't want a ton of inqs when I get there to get the cards that I want. Also by that time, these accounts will have some history which will only serve to boost my score... Maybe with these new accounts, I will be at 750 in a year.... but the point is, with my score, the inqs aren't impacting me like I thought they would
