Do multiple credit inquiries on the same day count as one?

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kcarter609
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Do multiple credit inquiries on the same day count as one?

Postby kcarter609 » Wed Jan 02, 2013 9:34 pm

Hi Guys,

When I applied for the Freedom in August, they pulled EX and gave me a $3k limit. I called in and asked for a credit limit increase to $5k a few minutes later. They hard pulled EX again and approved it.

Does this count as 2 inquiries? Or does it fall under that rate shopping rule and only count as 1 inquiry? I can't find a solid answer.

Thanks,
Kevin

Active Cards:
Chase Freedom 10+10 Visa Signature ($9k Limit - 8/2012)
Chase Sapphire Preferred ($10k Limit - 2/2013)
Chase Ink Plus ($7k Limit - 2/2013)
Discover IT ($9.5k Limit - 10/2012)
AMEX Zync (No Pre-set Limit - 1/2010)
AMEX Blue Cash Everyday ($20k Limit - 1/2013 - Backdate to 1/2010)


MemberSince99
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Postby MemberSince99 » Thu Jan 03, 2013 6:27 am

2 inquiries. Rate shopping typically applies to things like mortgages and auto loans not credit cards. It sucks that they pulled it again to increase your limit, but they are within their rights to do that as you requested more credit. It just depends on the lender and if they decide to do another hard pull and in this case Chase did. I hear they usually do hard pulls for CLIs.

kcarter609
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Postby kcarter609 » Thu Jan 03, 2013 1:09 pm

MemberSince99 wrote:2 inquiries. Rate shopping typically applies to things like mortgages and auto loans not credit cards. It sucks that they pulled it again to increase your limit, but they are within their rights to do that as you requested more credit. It just depends on the lender and if they decide to do another hard pull and in this case Chase did. I hear they usually do hard pulls for CLIs.


How does the system differentiate whether it was for a CC or a mortgage? I can't see the difference on my credit report. And yeah, it sucks, but I needed $5k. I run so much money through this card I'd be paying it like every 2 weeks if it was a $3k limit.

Active Cards:
Chase Freedom 10+10 Visa Signature ($9k Limit - 8/2012)
Chase Sapphire Preferred ($10k Limit - 2/2013)
Chase Ink Plus ($7k Limit - 2/2013)
Discover IT ($9.5k Limit - 10/2012)
AMEX Zync (No Pre-set Limit - 1/2010)
AMEX Blue Cash Everyday ($20k Limit - 1/2013 - Backdate to 1/2010)

MemberSince99
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Location: WI

Postby MemberSince99 » Thu Jan 03, 2013 4:59 pm

kcarter609 wrote:How does the system differentiate whether it was for a CC or a mortgage? I can't see the difference on my credit report. And yeah, it sucks, but I needed $5k. I run so much money through this card I'd be paying it like every 2 weeks if it was a $3k limit.


They have a credit "type" field that specifies revolving or student loan or auto loan (installment) if you check your credit report. That's how CK for example knows where to group your accounts under.

I hear you on that, it was I'm sure well worth the pull to get the 5k, though it would have been nice if they had just used the pull they had!

kcarter609
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Postby kcarter609 » Thu Jan 03, 2013 6:46 pm

MemberSince99 wrote:They have a credit "type" field that specifies revolving or student loan or auto loan (installment) if you check your credit report. That's how CK for example knows where to group your accounts under.

I hear you on that, it was I'm sure well worth the pull to get the 5k, though it would have been nice if they had just used the pull they had!


The CSR told me it wouldn't pull again, but it did. I've never ran into a company with CSR's who know the correct answers. Everyone gives you a different answer, regardless of what company it is. Oh well, it won't be a factor in like a month anyway. It's been just about 5 months so far. I feel like I should have asked for more, but I didn't want to push it and have them just outright deny an increase.

Active Cards:
Chase Freedom 10+10 Visa Signature ($9k Limit - 8/2012)
Chase Sapphire Preferred ($10k Limit - 2/2013)
Chase Ink Plus ($7k Limit - 2/2013)
Discover IT ($9.5k Limit - 10/2012)
AMEX Zync (No Pre-set Limit - 1/2010)
AMEX Blue Cash Everyday ($20k Limit - 1/2013 - Backdate to 1/2010)

MemberSince99
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Postby MemberSince99 » Fri Jan 04, 2013 5:37 am

You could call them and since the record all calls for "quality assurance purposes", remind them of this fact and ask them to check that call and verify that. Even if they turn around and say "our policy requires that we do a hard pull for EVERY request for credit due to the 'CARD Act'" or some such nonsense (in other words screw you), at the VERY least you need to make the point that they should train their reps to know what they are talking about because giving customers inaccurate information makes them look like chimps and gives a bad impression. At least see if you can't get them to remove that hard I would say. You might have a case for disputing it with the credit bureau but then it's "he said she said" and they 99.999999999% of the time just take whatever the creditor says as the word of God and close the case so that would be a wash.

I wouldn't be happy if I was told it wasn't a hard pull and it was either.

kcarter609
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Postby kcarter609 » Fri Jan 04, 2013 7:17 am

MemberSince99 wrote:You could call them and since the record all calls for "quality assurance purposes", remind them of this fact and ask them to check that call and verify that. Even if they turn around and say "our policy requires that we do a hard pull for EVERY request for credit due to the 'CARD Act'" or some such nonsense (in other words screw you), at the VERY least you need to make the point that they should train their reps to know what they are talking about because giving customers inaccurate information makes them look like chimps and gives a bad impression. At least see if you can't get them to remove that hard I would say. You might have a case for disputing it with the credit bureau but then it's "he said she said" and they 99.999999999% of the time just take whatever the creditor says as the word of God and close the case so that would be a wash.

I wouldn't be happy if I was told it wasn't a hard pull and it was either.


I totally get what you're saying, but at this point in the game it's really not even worth the time it would take to do that... If I had nothing else to do at all, I probably would. But I work ~55 hours a week on average and have other things I do too, so giving Chase a hard time isn't a priority. If I run into something like this in the future, I definitely will.

Active Cards:
Chase Freedom 10+10 Visa Signature ($9k Limit - 8/2012)
Chase Sapphire Preferred ($10k Limit - 2/2013)
Chase Ink Plus ($7k Limit - 2/2013)
Discover IT ($9.5k Limit - 10/2012)
AMEX Zync (No Pre-set Limit - 1/2010)
AMEX Blue Cash Everyday ($20k Limit - 1/2013 - Backdate to 1/2010)

silver6054
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Postby silver6054 » Fri Jan 04, 2013 11:53 am

MemberSince99 wrote:2 inquiries. Rate shopping typically applies to things like mortgages and auto loans not credit cards. It sucks that they pulled it again to increase your limit, but they are within their rights to do that as you requested more credit. It just depends on the lender and if they decide to do another hard pull and in this case Chase did. I hear they usually do hard pulls for CLIs.


Also, rate shopping only applies within a fairly short time frame (less than a month), all mortgage/loan inqs within that timeframe are counted as one. If for whatever reason you rate shop again two months later, you will get two inqs. In your case, the inquiries are several months apart and so is clearly not rate shopping, you are asking for new additional credit, hence why they can hard pull.

kcarter609
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Postby kcarter609 » Fri Jan 04, 2013 6:12 pm

silver6054 wrote:Also, rate shopping only applies within a fairly short time frame (less than a month), all mortgage/loan inqs within that timeframe are counted as one. If for whatever reason you rate shop again two months later, you will get two inqs. In your case, the inquiries are several months apart and so is clearly not rate shopping, you are asking for new additional credit, hence why they can hard pull.


I think you misread something. The inquiries were made MINUTES apart... not MONTHS.

Active Cards:
Chase Freedom 10+10 Visa Signature ($9k Limit - 8/2012)
Chase Sapphire Preferred ($10k Limit - 2/2013)
Chase Ink Plus ($7k Limit - 2/2013)
Discover IT ($9.5k Limit - 10/2012)
AMEX Zync (No Pre-set Limit - 1/2010)
AMEX Blue Cash Everyday ($20k Limit - 1/2013 - Backdate to 1/2010)

hematino
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Postby hematino » Sun Jan 06, 2013 10:02 pm

Kcarter609, it might vary by bank, but I was curious about this back in May so I tested something out. I applied for both the Citi Forward and the Citi Dividend within seconds of each other using two browsers, filling out all the info first, and then hitting submit on both. I believe they pulled twice, or at least knew about both pulls because with both instant approvals, the Forward was an instant $6000 limit while the Dividend only got a measly $1200. However on my Experian credit report, only one pull ever appeared. I think EX rolled them into one.
Now she's eyeless.
The snakes she held once
Eat up her hands.



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