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Collection inquiries

The last post in this topic was posted 2788 days ago. 

 

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If someone has mostly good credit but they have collection inquiries, their score should only be affected a little by these inquiries, and I think they would get instant approvals for some cards. Am I correct?

 

But if their application is flagged for human review, the reviewer will see the collection inquiries, and consider it suspicious and very negative?

 

By mostly good credit, I mean they have late payments but nothing worse (no collections, bk, charge offs, etc). (Or perhaps they have one or two older bad account but imagine their score is still low 700s or mid 700s from good accounts.)

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Hmm, what do you mean by a collection inquiry? I know that even if things are sent to collections, they are suppose to give you 30 days to respond before sending anything to the credit bureaus. But I know even a 30 day late payment can send your score dropping by almost 100 points if you are in the low 700s.

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I mean inquiries, not collections. But inquiries can state "purpose: collection" or they can have Collection in the company name.

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Always wondered this myself, I do not think it has any bearings. It could result in a denial if the company you apply to uses that in figuring "too many inquiries" as a denial. That is why when I have had them in the past, and they were not a legitimately allowed to collect or the account was placed in error, I make them remove the inquiry. Not so much because of the stigma, but so that I do not have an unnecessary inquiry that I did not initiate for credit.

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