Too many Credit Inquiries. When should I check again?

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Credit Card guy
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Too many Credit Inquiries. When should I check again?

Postby Credit Card guy » Wed Nov 14, 2012 7:32 pm

I was approved two credit cards, applied for 3 mortgage loans, and 2 background checks. All within a span of 4 months. I attempted a credit line increase on one of my credit cards but they said there are too many inquiries. Just wondering when it would be a good time to reapply for a credit line increase knowing that I was denied due to too many inquiries in my credit.

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Postby kcarter609 » Wed Nov 14, 2012 7:41 pm

The background checks are soft inquiries that don't affect your credit at all. The mortgage loan inquiries, if they were done within 30 days, only count as one inquiry and are considered "rate shopping".

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Postby namvet » Wed Nov 14, 2012 7:54 pm

Wait 6 months before you app for new credit. Some lenders prefer no inquiries during the last 12 months. Most are ok with no inquiries during the previous 6 months. Do your research prior to app.

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