How do you combine hard inquiries?

[EpicUserName]

I hear that if you apply for more than one card on the same day, you'll only get hit with one HP. How exactly do I do this? If I apply for a discover card and a chase card, will I get hit with only one? If I apply to five chase cards, will it count as only one HP?

 

Thanks everyone.

Edited June 8, 2018 by EpicUserName

[Kat58]

I hear that if you apply for more than one card on the same day, you'll only get hit with one HP. How exactly do I do this? If I apply for a discover card and a chase card, will I get hit with only one? NO If I apply to five chase cards, will it count as only one HP? Don't Do That

 

Thanks everyone.

[get.randy]

Sometimes inquiries from the SAME issuer on the SAME day will be merged into one. YMMV

[cv91915]

Inquiries aren't something you are hit with, they result from your requests for credit.

 

The purpose of an inquiry is to have your credit application reviewed (and hopefully approved). It's literally what they are for.

[bradk14]

I'm sure there are more but the only one I hear of that does this is AmEx where apparently you can make up to 2 apps same day on the same inq. and I can't vouch for that.

 

but I would think it's safe to assume that every request will be one hit and only be pleasantly surprised if and when it isn't.

[policebox]

Number of inquires doesn't matter, until they do.

[shifter]

most of the time multiple inqs from the same creditor on the same day will combine.

 

never will inqs from different creditors combine.

[Analysis]

Number of inquires doesn't matter, until they do.

They certainly matter on mortgage applications.....

[Allkindabroke]

The only fin. inst. I had a related experience with was Penfed. They used one hard pull to open checking and savings, a thrifty credit line, Penfed branded Amex and a Penfed Visa. I believe the csr said there was a time limit on using that pull. I believe it was five business days.

[mendelssohn]

 

Number of inquires doesn't matter, until they do.

They certainly matter on mortgage applications.....

In terms of explaining them, nothing more.

[Analysis]

 

 

Number of inquires doesn't matter, until they do.

They certainly matter on mortgage applications.....

In terms of explaining them, nothing more.

Easier said than done...... We don't know whethera brand new $15k line of credit will show up in a week with a big balance, then we have to reevaluate virtually everything. We re-run the tri merge the morning of the home closing.....

 

New inquiries stop everything for the closing, the 2 families ergo were planning on moving that weekend, the escrow company, etc.

[mendelssohn]

 

 

 

Number of inquires doesn't matter, until they do.

They certainly matter on mortgage applications.....

In terms of explaining them, nothing more.

Easier said than done...... We don't know whethera brand new $15k line of credit will show up in a week with a big balance, then we have to reevaluate virtually everything. We re-run the tri merge the morning of the home closing.....

 

New inquiries stop everything for the closing, the 2 families ergo were planning on moving that weekend, the escrow company, etc.

What you are describing is a surprise inquiry that resulted in a new account, not a situation where someone properly disclosed this in advance.

 

I hid nothing on my mortgage application, explained the 3 inquiries within 120 days and also that I had opened a new Amex card because of the 100K bonus at the time.

[Analysis]

 

 

 

 

Number of inquires doesn't matter, until they do.

They certainly matter on mortgage applications.....

In terms of explaining them, nothing more.

Easier said than done...... We don't know whethera brand new $15k line of credit will show up in a week with a big balance, then we have to reevaluate virtually everything. We re-run the tri merge the morning of the home closing.....

 

New inquiries stop everything for the closing, the 2 families ergo were planning on moving that weekend, the escrow company, etc.

What you are describing is a surprise inquiry that resulted in a new account, not a situation where someone properly disclosed this in advance.

 

I hid nothing on my mortgage application, explained the 3 inquiries within 120 days and also that I had opened a new Amex card because of the 100K bonus at the time.

You're missing it. An inquiry doesn't result in the instantaneous appearance of a tl...

 

But we expect it might, and we stop plenty of mortgages in their tracks when we see some inquiries just prior to closing. Multiple inquiries? Company policies, the mortgage is dead for a time.

[shifter]

That's a red herring. Of course you don't app anything during the mortgage process.

[mendelssohn]

 

 

 

 

 

Number of inquires doesn't matter, until they do.

They certainly matter on mortgage applications.....

In terms of explaining them, nothing more.

Easier said than done...... We don't know whethera brand new $15k line of credit will show up in a week with a big balance, then we have to reevaluate virtually everything. We re-run the tri merge the morning of the home closing.....

 

New inquiries stop everything for the closing, the 2 families ergo were planning on moving that weekend, the escrow company, etc.

What you are describing is a surprise inquiry that resulted in a new account, not a situation where someone properly disclosed this in advance.

 

I hid nothing on my mortgage application, explained the 3 inquiries within 120 days and also that I had opened a new Amex card because of the 100K bonus at the time.

You're missing it. An inquiry doesn't result in the instantaneous appearance of a tl...

 

But we expect it might, and we stop plenty of mortgages in their tracks when we see some inquiries just prior to closing. Multiple inquiries? Company policies, the mortgage is dead for a time.

I didnt miss it. The disclosure requires that you explain each inquiry within 120 days and whether or not it resulted in any new credit. If someone commits fraud, that is a different story.

 

Im also not suggesting that anyone go on an app spree, but inquiries do not automatically stop a mortgage in progress.

[Analysis]

 

 

 

 

 

 

Number of inquires doesn't matter, until they do.

They certainly matter on mortgage applications.....

In terms of explaining them, nothing more.

Easier said than done...... We don't know whethera brand new $15k line of credit will show up in a week with a big balance, then we have to reevaluate virtually everything. We re-run the tri merge the morning of the home closing.....

 

New inquiries stop everything for the closing, the 2 families ergo were planning on moving that weekend, the escrow company, etc.

What you are describing is a surprise inquiry that resulted in a new account, not a situation where someone properly disclosed this in advance.

 

I hid nothing on my mortgage application, explained the 3 inquiries within 120 days and also that I had opened a new Amex card because of the 100K bonus at the time.

You're missing it. An inquiry doesn't result in the instantaneous appearance of a tl...

 

But we expect it might, and we stop plenty of mortgages in their tracks when we see some inquiries just prior to closing. Multiple inquiries? Company policies, the mortgage is dead for a time.

I didnt miss it. The disclosure requires that you explain each inquiry within 120 days and whether or not it resulted in any new credit. If someone commits fraud, that is a different story.

 

Im also not suggesting that anyone go on an app spree, but inquiries do not automatically stop a mortgage in progress.

In our company they do exactly that. I work as mortgage closer in one of these biggest home mortgage company in the nation.

[mendelssohn]

Ok, I would never use a company like that though and not everyone does it that way.

[tiggerlgh]

I had a cable company inquiry on the day of closing.m it delayed. Nothing just another quick LOE and the account was funded. Not all apps delay mortgages even at the end.

[cv91915]

This is how I had to "explain" recent inquiries for a mortgage a few years ago.

 

 

That's right. They gave me a pre-printed form and made me check boxes!

 

Note: I also had to sign and date the next page. So you'll have to deal with that too!!