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credithacker

Credit Cards that don't care about inquiries (Experian Preferred)

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@ Mendelssohn: "Your problem is your thin credit file. Now is the time to stop applying and let the new accounts report and age."

 

My question is, since I also have a thin file, how long should we (those new accounts) let them sit and age? 6 months? A year?

 

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Thanks I actually just opened an account with them a few days ago to get that going. I was approved with NFCU for an auto loan and I've read they said no need if opening a new auto loan. I know it can't hurt but would you open one of those if you were planning on getting an auto loan soon?

Yes, there is no need if you are going to have an auto note reporting.

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Spent 20 minutes on the phone today with an underwriter for Wells Fargo regarding a credit line increase. When I got the card I had a med collection showing that was removed and the underwriter suggested I request an increase when it's removed. The UW I spoke with today specifically told me he could not grant me a credit line increase because of the amount of inquiries in the last 60 days. His exact words "your credit is not the issue and your scores are showing in the mid 700's but we don't know what all those inquiries are for and it looks like you are applying for a lot of credit in a short amount of time". I asked point blank so you are telling me that essentially I would be approved if not for the recent inquiries and he said those were the deciding factor in his decision to not approve the increase.

 

I hate to beat a dead horse and I'm not saying it's a factor with all creditors but it is for some.

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I hate to beat a dead horse and I'm not saying it's a factor with all creditors but it is for some.

 

Keep drinking the Koolaid

 

How much money is in your Wells Fargo checking account?

Edited by Konrad2012

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I have my business accounts with Wells Fargo, account is well funded and run $240k+ through that account.

I apped for the business platinum as well so we will see what that UW says, different dept. Just telling you what he said, don't shoot the messenger.

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I have my business accounts with Wells Fargo, account is well funded and run $240k+ through that account.

I apped for the business platinum as well so we will see what that UW says, different dept. Just telling you what he said, don't shoot the messenger.

 

You didn't just tell what he said. "I hate to beat a dead horse and I'm not saying it's a factor with all creditors but it is for some." That's what you said.

 

So you don't have a personal checking account with WF? And the UW didn't tell you how much that plays a role in WF UW standards? I'll make you a $100 wager to the charity of one another's choice that says if you put $25K or $50K in a personal checking account and let it sit for 30-45 days WF will approve you for a personal CC and you won't hear a peep about INQ's. WF is a relationship based lender for the most part and is mainly interested in cross selling products. But again, the UW didn't bring all that up to you now did they? They just blew smoke up your a$s about an ambiguous reason like INQs.

 

At the end of the day, no one has to listen to what any of the people here have to offer. But as General Mattis so famously stated, "the problem with being too busy to read is that you learn by experience (or by your men's experience), i.e. the hard way. By reading, you learn through others' experiences, generally a better way to do business, especially in our line of work where the consequences of incompetence are so final for young men."

Edited by Konrad2012

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It's still not the inquiries.

 

Let your new accounts age at least 6 months.

Edited by mendelssohn

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On 4/19/2017 at 2:19 AM, credithacker said:

I have my business accounts with Wells Fargo, account is well funded and run $240k+ through that account.

I apped for the business platinum as well so we will see what that UW says, different dept. Just telling you what he said, don't shoot the messenger.

what was the result?

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This thread caught my attention when I saw "Experian Preferred" And yet...

...and yet I haven't seen a post or comment as to WHO/WHICH CARD, ETC is pulling from Experian-only.

Any assistance here? Things are cleaning up good on my profile and yesterday I paid a chunk into a credit card (NFCU) that showed 5-%% usage. Thats now going down to under 20%, which should change things for me. I know I have 4 hard inquiries and the next hit I want is from Sapphire or Freedom... any help here folks?

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3 hours ago, RelentlessAaron said:

This thread caught my attention when I saw "Experian Preferred" And yet...

...and yet I haven't seen a post or comment as to WHO/WHICH CARD, ETC is pulling from Experian-only.

Any assistance here? Things are cleaning up good on my profile and yesterday I paid a chunk into a credit card (NFCU) that showed 5-%% usage. Thats now going down to under 20%, which should change things for me. I know I have 4 hard inquiries and the next hit I want is from Sapphire or Freedom... any help here folks?

Once you reach member status, you might want to check the CreditPulls database.  You will probably find what you seek there.

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