samhradh wrote:Anyway, she's hesitant to apply since Citi has a reputation for being less generous with their approvals and CL. I told her just to go for it since the inquiry falls off her report in six months.
Then we were reading her credit report and she called me out on my error. Apparently inquiries stay on for two years.
So my question is: I know something falls off in six months. But I can't remember what. Any ideas?
Nothing falls off at 6 months. An inquiry may lose some of its impact at 6 months. However, inquiries are a small factor. If your friends sees a major impact from one inquiry then she has bigger issues with her credit profile that she needs to address.
Don't rely solely on the card or creditor for limit. That's just part of the equation. One's credit profile and income will determine the limits that one qualifies for. Again, if she has issued with her credit then she needs to identify them and work an addressing them.
If she's looking to BT what's her revolving utilization? Don't count on a new card for a BT if revolving utilization is high. It is possible to get approved with high revolving utilization but limits may be low and APR's may be high.