Can you open too many accounts?

[ppc]

My chex report is clean but just wondering if you can be denied for having opened too many accounts? What's the policy on that?

[Credit Please]

Yes, too many (6 inq) in I believe a 6 month time frame will cause you to be chex flagged and will shut down all your new accounts. I believe 6 is the magic number.

[ppc]

Yes, too many (6 inq) in I believe a 6 month time frame will cause you to be chex flagged and will shut down all your new accounts. I believe 6 is the magic number.

 

Hi,

 

Can you explain to me this process? Chex contacts the banks and tells them that I applied for more than 6? From what I understand, the banks only look at chex when you initially apply.

 

Thnx