How many credit inquiries is too many?

**krismanten** · Dec 5, 10, 8:21 pm

Ive tried for the penfed card, got turned down a few weeks ago. i then got approved for a capital one secured card, and earlier in the year signed up for a debit card. How many cards would it be safe to sign up for during this year and not get my credit score hurt? i am just starting my credit.

Also, thinking of getting either chase rewards or discover open road card. i think both of them have the 5% in rotating categories. are categories the same for each card or different? also when can the consumer find out the categories on the 2011 calender?

**Mogul of Pineapples** · Dec 6, 10, 2:53 pm

Penfed is very conservative with approval so that's not surprising. Did you apply for the Capital One secured or did you apply for an unsecured and what they gave you was the secured?

At this point if your only being approved for a secured I wouldn't apply for any more credit cards for at least 6 to 9 months. Capital One has the loosest requirements so if you didn't get approved for an unsecured card from them, you almost are guaranteed not to be approved for a Discover or a Chase.

As far as how many credit inquiries is too many, the lower the better. I try and limit mine to no more than 2 per year, max 3. The credit inquiries will stay on your file for 24 months but count much less after 12 months.

**krismanten** · Dec 6, 10, 7:24 pm

nope i got approved for the secured one, thats what i applied for to help build my credit a little, i started to get a jcpenney card but my mom already has one so i figured id go with capital one. i do get letters from discover from time to time which cant be a bad thing i wouldnt think. but i am seriously considering piggy backing on my moms credit, she keeps on getting pre approval letters from chase freedom. i told her you guys liked that card, would my name being on the card with her be wise or not? or do they even offer that?

**infomaniac** · Dec 10, 10, 9:15 pm

It is often advised to not have any credit inquiries in the 6 months leading up to a mortgage application if that is in store for you.

**Cucumber** · Dec 19, 10, 2:19 pm

Guys I thought there was something in the scoring formula that if you had multiple credit inquiries of the same type within a short amount of time they would count as 1 inquiry. It's that way with mortgages I think does the same rule go for credit cards???

**infomaniac** · Jan 8, 11, 1:29 pm

Originally Posted by Cucumber

Guys I thought there was something in the scoring formula that if you had multiple credit inquiries of the same type within a short amount of time they would count as 1 inquiry. It's that way with mortgages I think does the same rule go for credit cards???

That is applicable to mortgages, student loans and auto loans applied for within a 30 day period. Revolving credit accounts such as credit cards do not qualify.

**kinkade** · Jan 13, 11, 2:26 pm

Do you think 7 inquiries in 1 year is too many because that is what showed up on my credit report when I pulled it today.

**jeffysdad** · Jan 13, 11, 8:41 pm

Yes, seven is too many if they are for revolving accounts. Best to sit still for a while and build credit with what you have. I have a fairly decent credit score, but the one area where I'm consistently dinged is hard pulls as I always seem to have two or three for revolving accounts. That said, this is a relatively small factor relative to the whole credit score. Pay your bills on time all the time and you will be fine.

**Elliot Castro** · Jan 22, 11, 2:44 am

Do you think 7 inquiries in 1 year is too many because that is what showed up on my credit report when I pulled it today.

I am going to go against the grain here. These companies know the same as you and I do (even more). They are well aware that people are getting dings for all sorts of things, and it is not always bad. In fact, most algorithms give you a set number of freebie dings, and any extras beyond that may still not even impact you negatively, if barely at all.

As mentioned, pay your bills on time... one month delay on a 20$ amount could mean 10 dings or more worth :P

**Cucumber** · Jan 24, 11, 2:05 am

How do you know there are freebies on the first few dings that are given......where did you hear that?

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