What does StanC look for generally? How many credit enquiries in last 3/6 months?
Should not be more than 4 enquiries is what I heard last time
One by one every 4-6 months per card is ok.. Dont apply for all at the same time.. And in case any card is rejected.. wait for 3-6 months to apply for another one.. Choose which CC you apply for carefully.. dont apply for premium cards if income doesn't match.. you will get rejected, and will show on CIBIL. Pay on time.. grow score and banks will start approaching you directly...
Only one thing rejection is not labelled in Cibil , everything just comes up as a enquiry . There is no way to find out whether enquiry is converted/approved/rejected
Agree.. but so many enquiries will show... which will pull his score down further.. he is just starting off so many enquiries are not advisable when getting rejected
v strict.. will definitely be viewed negatively
My experience was different. I applied for SBI card in 2019 and they made 5-6 enquiries at that time (3 years ago). It was my first card. I complained to nodal officer at that time but he did not remove those enquiries. These enquiries did not effect my following applications. I have 8 active credit cards as of now. Closed 2 cards.
Yes, its inconsistent many times.I remember when i had applied for a home loan, during tele verification, they asked me to explain every enquiry on cibil for last 1 yr.. so better safe than sorry.. banks can be very unpredictable so we have to be careful.. getting things corrected or changed is a nightmare as you have experienced..
Getting things corrected is really a nightmare. I am currently disputing false personal loan enquiry by ICICI and an additional enquiry by HDFC since a month. Every week getting email from them stating that they will get back within a day/week.
Amex has been really accommodating in this , they corrected a mistake from their end in just 4 days , and the same was reflected on my Cibil in next 2 days
Even IDFC is better in terms of correcting credit data. They corrected Flipkart BNPL (closed in 2021) late payment reflecting in CIBIL within a week of complaint.
What's the ideal gap if applying for amex? Assuming all previous enquiries led to a cc approval?
You can apply immediately if you have high scores of above 800 so a marginal drop won't matter.. if you have borderline cibil around 750, then avoid for atleast 3 - 6 months.. Use the 1st card, pay on time.. build score and then apply.. there will always be offers.. many may different n opinion.. this is mine..
