Originally Posted by
PumpkinSmasher
With seemingly most of the banks tightening standards for new accounts, do they care more about the accounts open or the inquiries? Or does it depend on the bank? For some reason, in the most recent denials I have had, it seems like the banks have cared more about the inquiries as opposed to the accounts. And do banks really only care about inquiries or accounts opened in the last 24 months?
I had 20 inquiries last month and applies for Chase Hyatt and Citi Costco and both were auto approvals with good SL. I have a long history with both bank and held 4 Chase cards and 2 Citi cards at time of application. Two years ago with 3 inquiries and scores in the 750 range I was declined for a Wells Fargo card. Reason given? No relationship with bank. Every bank has an internal scoring system that they do not disclose. The only bank I know that will decline for inquiries is Chase. Without Private Client relationship and in bank application they will decline to approve a non branded card application if you have had 5 inquiries with opened accounts in 24 months.